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 | July pending home sales rise |
| Pending home sales, a measure of sales contracts signed for the purchase of existing homes, climbed 5.2% in July, according to the National Association of Realtors. However, pending home sales were 19.1% below the July 2009 rate. Lawrence Yun, NAR's chief economist, said he expects home sales to remain soft in the months ahead, but that improved affordability should help with a recovery in the housing market. - 9/2/2010
| | Mortgage rates again set new lows |
| Thirty-year fixed-rate mortgages (FRMs) averaged 4.32% for the week ending September 2, down from last week's average of 4.36%. Last year at this time, the 30-year FRM averaged 5.08%. The 15-year FRM averaged a record low of 3.83% this week, down from last week's average of 3.86%. A year ago at this time, the 15-year FRM averaged 4.54%. One-year adjustable-rate mortgages (ARMs) averaged 3.50% this week, down from last week's average of 3.52%. At this time last year, the one-year ARM averaged 4.62%. - 9/2/2010
| | Mortgage applications increase |
| The Mortgage Bankers Association's Index of Mortgage Applications increased 2.7% for the week ending August 27. The refinance component of the index increased 2.8% from the previous week, and is at its highest level since May 1, 2009. The purchase component increased 1.8% from a week earlier. The refinance share of mortgage activity increased to 82.9% of total applications. - 9/1/2010
| | Canadian housing expected to stabilize |
| After rebounding in the second half of 2009 and early 2010, Canadian housing starts are expected to moderate in the second half of 2010, according to Canada Mortgage and Housing Corp. Starts are expected to stabilize at levels consistent with demographic fundamentals in 2011. CMHC forecast that housing starts in 2010 would total 184,900 units. Starts in 2011 were forecast at 176,900 units. - 9/1/2010
| | Home prices advance in June |
| U.S. home prices in 20 U.S. cities rose 4.2% in June compared to the same month in 2009, according to the S&P/Case-Shiller index of property values. Analysts noted that the index is a moving three-month average, meaning that June data are influenced by transactions in April and May that benefited from the federal home buyers tax credit. A pullback in demand since the credit ended, plus foreclosures and continued high unemployment, could weigh on prices over the near term. - 8/31/2010
| | Mortgage delinquency rates fall |
| Mortgage delinquency rates declined in the second quarter to 9.85%, from 10.06% in the first quarter, according to the Mortgage Bankers Association. "Foreclosure starts are down and the inventory of homes anywhere in the process of foreclosure fell for the first time since 2006," said Jay Brinkmann, MBA's chief economist. "The disappointing news is that, after declining since the beginning of 2009, the rate of short-term delinquencies is going up and the increase in these short-term delinquencies may ultimately drive the foreclosure measures back up." - 8/26/2010
| | New home sales hit record low |
| U.S. sales of new single-family houses were at a seasonally adjusted annual rate of 276,000 units in July, 12.6% below the revised June rate and 32.4% below the July 2009 estimate, according to the Census Bureau. The July report marked the lowest rate of sales since data collection began in 1963. The median sales price of new houses sold in July was $204,000, the lowest since late 2003. The seasonally adjusted estimate of new houses for sale at the end of July was 210,000, representing a supply of 9.1 months at the current sales rate. - 8/25/2010
| | July existing home sales fall sharply |
| U.S. sales of pre-owned homes were at a seasonally adjusted annual rate of 3.83 million units in July, down 27.2% from June and 25.5% below the level of July 2009, according to the National Association of Realtors. Sales were at the lowest level since the series was started in 1999, and single-family sales -- accounting for the bulk of transactions -- are at their lowest level since May 1995. The national median existing home price in July was $182,600, up 0.7% from a year ago. Distressed sales were unchanged from June, accounting for 32% of transactions in July. Total housing inventory at the end of July increased 2.5% to 3.98 million homes for sale, representing a 12.5-month supply at the current sales pace, up from an 8.9-month supply in June. - 8/24/2010
| | Housing remains highly affordable -- NAHB |
| Bolstered by favorable interest rates and low house prices, housing affordability for a sixth consecutive month remained near its highest level nationwide since the series was first compiled nearly two decades ago, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. The index indicated that 72.3% of all new and existing homes sold in the second quarter of 2010 were affordable to families earning the national median income of $64,400. - 8/19/2010
| | U.S. home prices rose 1.4% in June |
| U.S. home prices increased 1.4% in June from a year ago and gained 3.7% compared to a revised figure in May, according to CoreLogic's Home Price Index. Home prices have posted gains compared to year-ago levels for five consecutive months. - 8/17/2010
| | Canadian home sales declined in July |
| Canadian home sales fell 6.8% in July, according to the Canadian Real Estate Association. The decline was almost entirely the result of a downturn in British Columbia and Ontario, where sales fell 14.1% and 8%, respectively. Sales in the Prairies and Quebec were on par with June levels. - 8/17/2010
| | U.S. housing starts rise 1.7% |
| U.S. housing starts were at a seasonally adjusted annual rate of 546,000 units in July, up 1.7% from the revised June estimate of 537,000 and 7.0% below the July 2009 estimate, according to the Census Bureau. Single-family starts were at a SAAR of 432,000, down 4.2% compared to the revised June figure and lagging the year-ago level by 13.6%. Multifamily starts rose 32.6% from June and were up 31% compared to a year ago. Building permits authorized in July were at a SAAR of 565,000 units, down 3.1% from the June rate. - 8/17/2010
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