Home prices continue to weaken, as eight cities hit their lowest levels since the peak in 2006 and 2007, according to the latest S&P/Case-Shiller Home Price Indices. The data showed that in November Atlanta; Charlotte, N.C.; Detroit; Las Vegas; Miami; Portland, Ore.; Seattle; and Tampa, Fla., all dropped to levels below spring 2009 lows.

Existing home sales rose in December for the fifth time in the last six months, indicating a recovery as the housing market continues to stabilize. According to the National Association of Realtors, existing homes sales jumped 12.3 percent last month, reaching a seasonally adjusted rate of 5.28 million.

Housing starts declined in the last month of 2010, reaching their slowest pace since October 2009, new Commerce Department data show. On a positive note, building permit issuance rose 16.7 percent in December 2010, which might indicate that builders are upbeat about the upcoming spring selling season.

Long-time remodeling industry figure Mark Richardson is joining Professional Remodeler magazine as columnist

Union members shut down a Mortgage Bankers Association conference in Washington, D.C., yesterday in protest of PulteGroup Inc.’s use of $900 million in tax breaks meant to spur job creation

The National Association of Home Builders’ Housing Market Index remained steady this month at 16 for the third month in a row, indicating that home builders’ confidence is still low. Perceptions on current single-family home sales and sales expectations for the next six months remained the same as last month. Perceptions of prospective buyer traffic gained one point.

A survey of homeowners who purchased a home last year found that their primary motivations were affordability and the desire for more living space. The survey by Weichert Realtors Inc. polled 1,261 buyers who bought a home between July 1 and Dec. 31. Twenty-eight percent said their main reason for purchasing a home was “favorable financing,” double the amount in 2008.

The average size of single-family homes completed last year fell 3 percent, the National Association of Home Builders announced last week at the International Builders’ Show. The average size of homes completed in 2010 was 2,377 sf, down from a peak of 2,521 sf in 2007.

The U.S. Consumer Product Safety Commission has so far been unable to persuade Chinese makers of defective drywall to compensate U.S. homeowners, Insurance Journal reported. The drywall in question was imported to the U.S. after Hurricane Katrina as part of the effort to rebuild damaged homes. Approximately 4,000 homeowners have since filed complaints about the product.

In a letter addressed to U.S. Environmental Protection Agency (EPA) Administrator Lisa P. Jackson, the National Association of the Remodeling Industry (NARI) requested stricter enforcement of the Lead Renovation, Repair and Painting (LRRP) Rule.