One of the most interesting results of poring through economic data reports is that the details often tell a different story than the headline. Coverage of the recent report on housing permits and starts, for example, was dominated by the increases in both metrics, suggesting a revival of the housing sector, a response some analysts suggested is due to tight inventories of existing-single family homes on the market. However, a closer look revealed a more important phenomenon.
Read More »Real Estate Group Makes Recommendations on CRE Tax Reform
The Real Estate Roundtable, a group of leaders representing real estate businesses and trade associations, published a release urging lawmakers to take a pro-growth approach to tax reform that considers the commercial real estate (CRE) sector's role in the larger economy. In a letter, the group says a restructuring of taxes should recognize "commercial real estate's vast economic contributions" and include "transition rules" to minimize disruptions to real estate.
Read More »NAHB Improving Markets Index Grows to 274
The National Association of Home Builders' (NAHB) Improving Markets Index (IMI) showed no signs of slowing down in March.
Read More »Zillow: Home Values Up 5.8% in February
Zillow's Home Value Index registered a national value of $158,100 last month, which represents a slight 0.1 percent increase from January.
Read More »Why Are Some Markets Less Impacted by Low Rates?
Pro Teck recently examined the effect of the Federal Reserve's commitment to keep interest rates low on home prices, which have historically increased during such programs.
Read More »Mortgage Rates Turn Down Amid Eurozone Woes
After spiking last week, mortgage rates took a dive this week as tension broke out in Europe over the financial crisis in the island country of Cyprus.
Read More »Existing Home Sales, Prices Up in February
Existing-home sales rose 0.8 percent in February to 4.98 million, the National Association of Realtors reported Thursday. Economists had expected the sales pace to climb to 5.01 million from January├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós originally reported 4.92 million. January sales were revised up to 4.94 million.
Read More »Trulia: Gap Closing Between Cost of Buying vs. Renting
Data from Trulia shows that once all costs are factored, buying a home is 44 percent cheaper than renting at this point.
Read More »FOMC Continues Interest Rate, Investment Policies
With an upbeat assessment of the economy, the Federal Open Market Committee (FOMC) voted 11-1 Wednesday to leave interest rates unchanged and to continue its program of purchasing agency mortgage-backed securities (MBS) and longer-term Treasury securities to "maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative." Kansas City Fed President Esther George, who opposed a similar action in January, cast the lone dissenting vote.
Read More »Closing Rates Rise in February, Purchase Activity Makes Strides
Ellie Mae released its Origination Insight Report for February, revealing that the closing rate for loan applications initiated 90 days prior--in November--was 56.8 percent.
Read More »