Market Conditions
Market Conditions
Remodeling Spending To Tick Up Through Mid-2025
The Leading Indicator of Remodeling Activity report says things will trend up after a modest downturn
NAHB
NAHB: Remodelers Face Challenges and Opportunities
Remodelers face a uniquely strong market yet remain challenged by codes and costs
NAHB
NAHB Announces Action Plan for Housing Affordability
Six of the proposed 10 action items are important to residential remodelers
Market Conditions
Metros with the Highest and Lowest Remodel ROI
First-time homebuyers can find fixer-upper listings priced between 5 to 10% lower than move-in ready homes. The high return on investment of these projects shows that remodeling remains a strong option to navigate the current housing market
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Report: Remodeling spending will rise significantly in first half of 2011
Remodeling spending may jump as much as 9.2 percent in the first quarter of 2011, according to a report by Harvard University’s Joint Center for Housing Studies.
Los Angeles, Chicago Areas Lead in Remodeling Spending
The counties around Los Angeles and Chicago top the nation in remodeling spending, according to NAHB
Report: Number of underwater borrowers increases
More homeowners fell underwater in the fourth quarter as home prices continued to drop.
Republicans vote to cancel two mortgage programs
The House Financial Services Committee last week moved to cancel two new Obama administration mortgage programs. The Republican-led committee voted 33 to 22 for the cancellation, the Wall Street Journal reported. The voting followed party lines.
Regulators push for 20 percent down payment rule
Bank regulators are backing a rule that would require a 20 percent down payment on lower risk mortgages that would be exempt from new lending rules.
California all-cash home sales increase, account for a third of transactions
All-cash buyers accounted for 30.9 percent of home and condominium sales in California in January, with even higher percentages in some wealthy Southern California communities. The trend is likely the result of both low home prices and an increase in foreclosures on the market.
Fannie Mae: Americans’ attitude toward housing market worsens
Americans are increasingly pessimistic about the economy and the housing market according to the results of a Fannie Mae survey.
New home sales decrease 12.6% in January
Sales of newly built single-family homes decreased 12.6 percent in January to a seasonally adjusted 284,000 units, according to data released by the U.S. Census Bureau and Department of Housing and Urban Development. Regionally, new-home sales fell in both the South and West, while the Northeast saw a gain of 54.5 percent.
NAR: Existing home sales continue to rise
Existing home sales rose for the third month in a row in January, rising above sales levels from one year ago, according the latest data from the National Association of Realtors (NAR).
Home sales may have been over-counted since 2007
The National Association of Realtors may have over-counted home sales as far back as 2007. According to NAR, 4.9 million homes were sold in 2010, down from 5.2 million sales in 2009. But real-estate analytics firm CoreLogic estimates that only 3.3 million homes were sold in 2010.