My Blog

US pending home sales rise to highest in 2 1/2 years Part 2

1/9/2013

By CHRISTOPHER S. RUGABER

 

ReMax Alliance serving Huntsville, Madison, Hampton Cove and all of North Alabama.


Home sales are on track to rise 10 percent this year to their highest level in five years, buoyed by ultra-low mortgage rates and steady job gains. The Realtors' group forecasts that sales may rise in 2013 to about 5.1 million. That's still below the more than 5.5 million that is considered consistent with a healthy market.

The housing recovery that began earlier this year is looking sustainable for a number of reasons. The supply of previously occupied homes for sale has finally thinned out and is at an 11-year low. At the same time, more people are looking to buy or rent a home after living with relatives or friends during and in the aftermath of the Great Recession.

The combination of stronger demand and limited supply is pushing up home prices. That could encourage more sellers to put their homes on the market because they can expect a better price.

Builders are also more optimistic that the recovery will endure and are stepping up construction. The pace of home construction was nearly 22 percent higher in November compared with a year earlier. Builders are on track this year to start work on the most homes in four years.

Give Michael Clayton a call at 256-527-9659. I'm here to help. You can also email me; Michael@BestOnlineHomeSearch.com - Also visit my website at www.bestonlinehomesearch.com

US pending home sales rise to highest in 2 1/2 years Part 1

1/9/2013

By CHRISTOPHER S. RUGABER

 

ReMax Alliance serving Huntsville, Madison, Hampton Cove and all of North Alabama.


A measure of Americans who signed contracts to buy homes increased last month to its highest level in two and a half years, the latest sign of improvement in the once-battered housing market.  The National Association of Realtors said Friday that its seasonally adjusted pending home sales index rose 1.7 percent in November from October to 106.4. That's the highest since April 2010, when a homebuyer tax credit caused a spike in sales. And after excluding those months when the tax credit was available, it's the best reading since February 2007.

The increase followed a 5 percent gain in October and suggests higher sales of previously occupied homes in the coming months. There's generally a one- to two-month lag between a signed contract and a completed sale. In November, signed contracts to buy homes rose in the Northeast and West, and ticked up slightly in the Midwest. They were unchanged in the South.

Give Michael Clayton a call at 256-527-9659. I'm here to help. You can also email me; Michael@BestOnlineHomeSearch.com - Also visit my website at www.bestonlinehomesearch.com

A New Housing Boom by Chris Isidore @CNNMoney Part 4

12/12/2012

ReMax Alliance serving Huntsville, Madison, Hampton Cove and all of North Alabama.

The housing rebound can have a ripple effect that could help get the entire economy growing at a much stronger pace, which will add to more demand for housing.

"That turn in the [housing] market is occurring now and it should become a boom by 2015. It will be powerful enough ... to lift the entire U.S. economy," said Roger Altman, chairman of Evercore Partners and former deputy Treasury secretary, in a column for the Financial Times.

Altman said he expects housing will add 4 million jobs to the economy over the next five years, as pent-up demand for home purchases drives building and home prices higher.

Give Michael Clayton a call at 256-527-9659. I'm here to help. You can also email me; Michael@BestOnlineHomeSearch.com - Also visit my website at www.bestonlinehomesearch.com

A New Housing Boom by Chris Isidore @CNNMoney Part 3

12/12/2012

ReMax Alliance serving Huntsville, Madison, Hampton Cove and all of North Alabama.

Construction is expected to be even stronger, with numerous experts forecasting home construction to grow by at least 20% a year for each of the next two years. Some believe building could be back near the pre-bubble average of about 1.5 million new homes a year by 2016, about double the 750,000 homes expected this year.

"We think the recovery is for real this time around," said Rick Palacios, senior analyst with John Burns Real Estate Consulting. "If you look across the U.S. economy right now, there are only a handful of industries looking at 20-30% growth over the next 4-5 years, and housing is one of those."

Home builder stocks are up 162% in the last 12 months, led by a 250% jump at PulteGroup(PHM). Other leading builders including DR Horton(DHI), Toll Brothers(TOL), KB Home(KBH) and Lennar(LEN) have all seen their stocks more than double over that time. New orders at publicly-traded builders are up 30% since January, according to Kim.

Palacios said stocks in other sectors, from manufacturers of drywall to flooring to kitchen and bath fixtures, have all more than doubled as well this year.

Give Michael Clayton a call at 256-527-9659. I'm here to help. You can also email me; Michael@BestOnlineHomeSearch.com - Also visit my website at www.bestonlinehomesearch.com

A New Housing Boom by Chris Isidore @CNNMoney Part 2

11/19/2012
ReMax Alliance serving Huntsville, Madison, Hampton Cove and all of North Alabama.

Barclays Capital put out a report recently forecasting that home prices, which fell by more than a third after the housing bubble burst in 2007, could be back to peak levels as soon as 2015. "In our view, the housing market had undergone a dramatic over-correction during the prior five years, resulting in pent-up demand for housing purchases that would spark a rapid rise in housing starts," said Stephen Kim, an analyst with Barclays, in a note to clients. In addition to what Kim sees as a big rebound in building, he's bullish on home prices, expecting rises of 5% to 7.5% a year.  

Give Michael Clayton a call at 256-527-9659. I'm here to help. You can also email me; Michael@BestOnlineHomeSearch.com - Also visit my website at www.bestonlinehomesearch.com

A New Housing Boom by Chris Isidore @CNNMoney Part 1

11/19/2012

ReMax Alliance serving Huntsville, Madison, Hampton Cove and all of North Alabama.

The long-battered housing market is finally starting to get back on its feet. But some experts believe it could soon become another housing boom. Signs of recovery have been evident in the recent pick-ups in home prices and construction. Foreclosures are also down and the Federal Reserve has acted to push mortgage rates near record lows.
  

But while many economists believe this emerging housing recovery will produce only slow and modest improvement in home prices, construction and jobs, others believe the rebound will be much stronger.

Give Michael Clayton a call at 256-527-9659. I'm here to help. You can also email me; Michael@BestOnlineHomeSearch.com - Also visit my website at www.bestonlinehomesearch.com

U.S. Housing Market Up 15 In September

10/24/2012

ReMax Alliance serving Huntsville, Madison, Hampton Cove and all of North Alabama.

 Review this article by Danielle Deavours:

Existing Home Sales up in September

U.S. builders started construction on single-family homes and apartments in September at the fastest pace since July 2008, a further indication that the housing recovery is strengthening.

The Commerce Department says builders broke ground at a seasonally adjusted annual rate of 872,000 in September. That's an increase of 15 percent from the August level. Applications for building permits, a good sign of future construction, jumped nearly 12 percent to an annual rate of 894,000, also the highest since July 2008.

The strength in September came from both single-family construction, which rose 11 percent, and apartments, which increased 25.1 percent.

Construction activity is now 82.5 percent higher than the recession low hit in April 2009, although activity is still below healthy levels.

Give Michael Clayton a call at 256-527-9659. I'm here to help. You can also email me; Michael@BestOnlineHomeSearch.com - Also visit my website at www.bestonlinehomesearch.com

Home Sale Tips - Part 5 of 5

9/22/2012

ReMax Alliance serving Huntsville, Madison, Hampton Cove and all of North Alabama.

 This is part 5 of a 5 part series on things you can do to help you prepare your home for selling:

1.     Check smells regularly. Besides getting rid of bad odors from pets and mildew, introduce nice fresh fragrances.

2.      Make rooms lighter and larger for showings with good lighting.

3.     Go with plants rather than flowers indoors since they last longer.

4.      Pay attention to your bathrooms. Specifically, make sure you have freshly laundered towels, new soap in soap dishes, spotless mirrors, and no mildew in view.

5.     Be sure your house is priced competitively with the current market and homes in your area.

Michael Clayton a call at 256-527-9659. I'm here to help. You can also email me; Michael@BestOnlineHomeSearch.com - Also visit my website at www.bestonlinehomesearch.com

Home Sale Tips - Part 4 of 5

9/21/2012

ReMax Alliance serving Huntsville, Madison, Hampton Cove and all of North Alabama.

This is part 4 of a 5 part series on things you can do to help you prepare your home for selling:

1. Improve a homes healthfulness by using paints and adhesives with low or no VOCs.

2. Use what you have, and arrange each room in a conversational way if possible.

3. Remove and replaced faded draperies, fabrics, and rugs, or leave windows and floors bare to avoid showing lack of attention,

4. Replace old, dated, or worn bedding.

5. Toss out old magazines.

Michael Clayton a call at 256-527-9659. I'm here to help. You can also email me; Michael@BestOnlineHomeSearch.com - Also visit my website at www.bestonlinehomesearch.com

Home Sale TIps - Part 3 of 5

9/18/2012

ReMax Alliance serving Huntsville, Madison, Hampton Cove and all of North Alabama.

This is part 3 of a 5 part series on things you can do to help you prepare your home for selling:

1. Remove outdated wallpaper, replacing it with paint and preferably a neutral color

2. Remove, store, or discard excessive accessories on tabletops and walls

3. Get the house inspected before its listed to know its condition

4. Outfit closets for extra storage to make rooms look larger and less cluttered.

5. Tighten a homes envelope to improve energy efficiency and savings.

Michael Clayton a call at 256-527-9659. I'm here to help. You can also email me; Michael@BestOnlineHomeSearch.com - Also visit my website at www.bestonlinehomesearch.com

 

Page:  of 000  |