News
News
Remodeling Spending To Tick Up Through Mid-2025
The Leading Indicator of Remodeling Activity report says things will trend up after a modest downturn
Business
Curbio Joins NAR As New Member Benefits Partner
National Association of Realtors members receive access to the Curbio home improvement platform
NAHB
NAHB Announces Action Plan for Housing Affordability
Six of the proposed 10 action items are important to residential remodelers
Home Improvement
Re-Bath Expands its Reach with New Franchise
The company signs a deal with brothers who are first-time franchisees
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U.S. home prices rise in October
Homes prices across the U.S. rose between September and October, although prices remain lower than in October 2009.
Group urges regulators to create standards for mortgage-servicing industry
A group of analysts, academics and investors signed a letter urging regulators to create nationals standards for the mortgage servicing industry, the Wall Street Journal reported.
Rising mortgage rates cause surge in first-time buyers
Rising mortgage interest rates have reignited first-time home buyers’ interest in purchasing a home over the last several months, UPI reported. The rates for 30-year fixed-rate mortgages began to rise from record lows this fall, increasing from 4.17 percent to 4.83 percent between November and December.
Americans maintain positive attitude about homeownership
Despite the recent housing crisis, most Americans still desire to own a home, but their attitudes may not line up with financial realities, CNN reported. A survey by Fannie Mae found that more 51 percent of people polled said the housing crisis did not change their desires to buy a home. Twenty-seven percent said that they were even more likely to buy because of the crisis.
Tax deal extends, shrinks energy efficiency credits
The tax bill passed by both houses of Congress this week does extend the credits, but at the levels they were at before the stimulus package.
Construction material prices rise nearly five percent since last year
Construction material prices have risen in the last year, while finished-building price indexes remained flat, adding additional financial stress to builders and contractors already facing the effects of high unemployment. An analysis by the Associated General Contractors of America reported that material prices rose 0.5 percent in November and 4.8 percent in the last year. The producer price indexes rose 0.4 percent in November, and 3.5 percent in the last year.
Report: Mortgage modification program won’t meet goals
New congressional report says program will fall well short of original target
NAHB survey: Builder confidence remains flat
Builder confidence in new single-family homes remained flat in December, according to the National Association of Homebuilders (NAHB)/Wells Fargo Housing Market Index. The index remained at 16, the same as in November.
Negative equity drops for third straight quarter
The number of residential properties with mortgages in negative equity in the U.S. dropped in the third quarter of 2010, marking the third quarter in a row the rate has decreased. CoreLogic reported that 10.8 million, or 22.5 percent, of residential properties were in negative equity at the end of the third quarter.
Increase in foreclosures expected in 2011
Foreclosures are expected to peak in 2011, but the long-term forecast is improving, according to a report by the Wall Street Journal. According to Rick Sharga of RealtyTrac, an online marketplace for foreclosed properties, the number of foreclosures in 2011 will top both 2009 and 2010, which had 900,000 and 1.2 million bank repossessions, respectively.