Monthly Archives: June 2011

Existing Home Sales | Existing Home Sales Post First Gain In Seven Months In May

Pending sales of existing U.S. homes bounced back from a seven-month low in May, but demand for home loans sank last week and the market continues to struggle under the weight of a glut of unsold properties.The National Association of Realtors said on Wednesday its Pending Home Sales Index increased 8.2 percent to 88.8, bouncing back from April’s seven-month low. Pending homes sales lead existing    .. more …

New Home Sales | Instant View: Pending Home Sales Jump In May

NEW YORK (Reuters) – Pending sales of previously owned U.S. homes rose more than expected in May, a trade group said on Wednesday, but a glut of unsold properties remains a drag on the housing market.STEVEN WOOD, CHIEF ECONOMIST, INSIGHT ECONOMICS, DANVILLE, CALIFORNIA:”Pending homes sales have been on a rollercoaster ride over the past 2 years because of the on-again, off-again home buyers’ tax    .. more …

Mortgage Interest Rates | NAHB Study Finds Loan Limit Declines A Discouraging Prospect For Recovering Housing Market

RISMEDIA, June 29, 2011″A drop in some mortgage loan limits for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac and the Federal Housing Administration scheduled to occur on Oct. 1 will reduce housing demand and place downward pressure on home prices in major housing markets, according to a new study from the Economics and Housing Policy Group at the National Association of    .. more …

Existing Home Sales | Good News: Home Prices Mixed

In April, home prices were mixed. The Case-Schiller Composite 10 City index (C-10) rose an ever-so-slight 0.01% on a seasonally adjusted basis, and is down 3.04% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) fell by 0.09% on the month and is down 3.93% from a year ago.Prices for both indexes rose on a not-seasonally-adjusted basis. Of the 20 cities,    .. more …

New Home Sales | New-home Sales Fell In May, Median Price Rose

Fewer people bought new homes last month, the latest sign that the struggling housing market won’t rebound this year.New-home sales fell 2.1 percent in May to a seasonally adjusted annual rate of 319,000 homes, the Commerce Department said Thursday. That’s far below the 700,000 homes per year that economists say must be sold to sustain a healthy housing market.The median sales price rose 2.6    .. more …

Mortgage Interest Rates | SDSU Study Shows Land Values Booming: Increase Is Third Highest In Past Two Decades

An SDSU study shows agricultural land values are booming again in South Dakota, charting a 16.5 percent increase in 2010-2011, the third-largest since South Dakota State University economists began tracking the farm real estate market in 1991. High commodity prices were the main factor driving the land market, according to a majority of those surveyed.However, SDSU economists note that the    .. more …

Mortgage Interest Rates | Is The Reserve Bank The Cure Or The Disease?

Embargoed for media release until 1am Wednesday 15 June2011Is the Reserve Bank the cure or thedisease?This report reviews New Zealand’s experiencewith an independent central bank since 1989. It provides anassessment of whether the Reserve Bank (RBNZ) has been morethe cure or the disease from an economic wellbeing or humanperspective. This question is addressed first for the DrDon Brash era    .. more …

New Home Sales | New-home Sales Fall In May, But Median Price Climbs

WASHINGTON — Fewer people bought new homes last month, the latest sign that the struggling housing market won’t rebound this year. New-home sales fell 2.1 percent in May to a seasonally adjusted annual rate of 319,000 homes, the Commerce Department said Thursday. That’s far below the 700,000 homes per year that economists say must be sold to sustain a healthy housing market. The median sales    .. more …

Mortgage Interest Rates | South Dakota Study Suggests Ag Land Values Are Booming

Newswise – Agricultural land values are booming again in the Northern Great Plains, if a South Dakota study is any indication.The latest annual study of land market trends from South Dakota State University economists suggests South Dakota land values charted a 16.5 percent increase in 2010-2011, the third-largest since SDSU economists began tracking the farm real estate market in 1991.High    .. more …

Mortgage Interest Rates | Banks Cut Mortgage Rates For Chch Residents Forced To Relocate

~li~ Related Banks planning for Chch mortgage defaults watch Co-op bank to reward loyal customers watch ANZ National Bank and state-owned Kiwibank will cut two percentage points off prevailing mortgage interest rates for up to 12 months, to help Christchurch homeowners who are forced to relocate. ANZ National, the country’s biggest lender, has set aside $1 billion to offer the cheap mortgages,    .. more …