Tag Archive for ‘home building’

Pending Home Sales Retreat

The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts, decreased 2.6% in August 2012 to 99.2, down from the upwardly revised level of 101.9 in July.  However, the August 2012 PHSI was 10.7% higher than the same period a year ago, and the July PHSI reached its highest level since April 2010 when the home buyer tax… Read More ›

Mortgage Delinquencies

According to the Mortgage Bankers Association, 3.1 million households are 90 days or more late on their payment or in the foreclosure process and collectively called seriously delinquent. While still excessive by all comparisons to history, the number has dropped 28% from a high of 4.3 million at the end of 2009. The decline has been gaining speed and is… Read More ›

New Home Sales Hold Steady

The US Census Bureau and HUD reported new home sales for August remained virtually unchanged from a revised July level at 373,000. The last two months set the highest levels in new home sales since the momentary bump provided by the home buyer tax credit in 2010. The current levels are driven by underlying pent up demand, buyers taking advantage… Read More ›

The Drop in Property Taxes that Never Happened

Property taxes are an important source of revenue for state and local governments to finance services, particularly education. Some analysts expected large declines in property tax collections for state and local governments in the wake of the Great Recession. However, this drop has never happened, despite historic price declines for owner-occupied housing. In fact, recent data demonstrate that property tax… Read More ›

How Homeowners’ Tax Rates Could Go Down, but Their Tax Bills Go Up

NAHB has published a new paper analyzing the mortgage interest deduction (MID). The MID has been in the news a lot recently, as the talk heats up of possible tax hikes in 2013 . The new research adds to NAHB’s existing tax policy analysis by providing a means to examine the possible impacts of future comprehensive tax reform proposals. Analysis of “winners” and “losers” of tax reform requires data… Read More ›

NAHB’s Construction Forecast Webinar

NAHB’s Fall 2012 Construction Forecast Webinar will be held on Wednesday, October 17, 2012 from 2:00pm to 4:00pm ET. How is the market unfolding as the housing recovery quickens? David Crowe, Chief Economist, NAHB Mark Zandi, Chief Economist, Moody’s Economy.com Robert Denk, Assistant Vice President for Forecasting and Analysis, NAHB The fragile state of the national and world market Foundations… Read More ›

Existing Home Sales Increase

Existing home sales in August increased 7.8% from July, and were up 9.3% from the same period a year ago. The National Association of Realtors (NAR) reported August 2012 total existing home sales were at a seasonally adjusted rate of 4.82 million units combined for single-family homes, townhomes, condominiums and co-ops. That compares to 4.47 million units in July and… Read More ›