Business Outlook Archive


Clear Capital: Q1 Home Prices Remain Strong over Winter for the First Time in Seven Years

Clear Capital, a provider of data and solutions for real estate asset valuation and collateral risk assessment, recently released its Home Data Index(TM) (HDI) Market Report with data through March 2013.


REALTORS® Continue to Lead the Way on Fair Housing

As the leading advocate for homeownership and housing issues, the National Association of REALTORS® (NAR) joins the nation in observing the 45th anniversary of the 1968 landmark Fair Housing Act, which prohibits discrimination


CoreLogic Reports 54,000 Completed Foreclosures in February

CoreLogic® recently released its National Foreclosure Report for February, which provides data on completed U.S. foreclosures and the overall foreclosure inventory. According to CoreLogic, there were 54,000 completed foreclosures in the U.S. in February 2013, down from 67,000 in February 2012, a year-over-year decrease of 19 percent. On a month-over-month basis, completed foreclosures fell from 58,000* in January 2013 to the February level of 54,000, a decrease of 7 percent.


Mortgage Originations at Five-Year High In New England Area

Regional Spotlight—The recovery year for the local housing market is evident in recent statistics - showing 2012 mortgage activity in New England at the highest level in five years,


Economic Growth Poised to Strengthen

The strong jobs report and the rebound in consumer confidence in February suggested that businesses and consumers set aside their worries about fiscal drag ahead of the looming sequestration deadline, according to Fannie Mae’s Economic & Strategic Research Group. Activity in both the stock and housing markets also picked up recently and continues to act as a tailwind for the economy. Furthermore, the pace of manufacturing and service activity has expanded at a healthy pace and should contribute to growth this quarter. Although income and consumer spending took a hit at the start of the year and may slow again due primarily to tax increases, overall economic growth is expected to pick up in the second half of the year, coming in at 2.1 percent in 2013.


Pending Home Sales Slip on Constrained Inventory

February pending home sales flattened with limited buyer choices, but remained at the second highest level in nearly three years, according to the National Association of REALTORS®.


Shadow Inventory Down 28 Percent from 2010 Peak

CoreLogic, a leading residential property information, analytics and services provider, reported recently that the overall shadow inventory is down 28 percent from its peak in January 2010, when it reached 3 million homes. Current residential shadow inventory as of January 2013 was at 2.2 million units, representing a supply of nine months. This figure represents an 18-percent drop from January 2012, when shadow inventory stood at 2.6 million units. CoreLogic estimates the current stock of properties in the shadow inventory, also known as pending supply, by calculating the number of properties that are seriously delinquent, in foreclosure and held as real estate owned (REO) by mortgage servicers, but not currently listed on multiple listing services (MLSs).


Home Buyer Age Impacts Home Size Preference

A recent study from the National Association of Home Builders (NAHB) shows variations in home buyer preferences with regards to home size when it comes to age, race and ethnicity. NAHB’s “What Home Buyers Really Want,” surveyed more than 3,600 home buyers across the country on various characteristics of new homes. Based on the results, the median desired home size is 2,226 square feet. However, a closer look at the data broken down by buyer characteristics shows significant differences in how large a home different types of buyers want. Age plays an important role in a buyer’s preferences, with the amount of space requirements dropping steadily


From Gloom to Bloom: Expecting the Healthiest Spring Season Since 2007

Freddie Mac recently released its U.S. Economic and Housing Market Outlook through March showing that as we head into the spring home buying season, continued low mortgage rates, increasing house prices, and gradually improving consumer confidence will help support increased home sales. A short preview video and the complete March 2013 U.S. Economic and Housing Market Outlook are available here. Outlook Highlights • Compared to 2012, expect home sales to be up 8 to 10 percent for 2013. • Expect housing starts to increase to 950,000 units for 2013, compared to 780,000 in 2012. • In 2012, real estate added $1.5 trillion to balance sheets, and residential mortgage debt


Home Values Performed 42 Percent Better When Located Near Public Transportation

Location, location, location near public transportation may be the new real-estate mantra according to a new study released recently by the American Public Transportation Association (APTA) and the National Association of Realtors® (NAR). Data in the study reveals that during the last recession, residential property values performed 42 percent better on average if they were located near public transportation with high-frequency service. “When homes are located near public transportation, it is the equivalent of creating housing as desirable as beachfront property,” says APTA President and CEO Michael Melaniphy.


Suburban Blight & the Affordable Housing Conundrum

As the urban revival in some American cities pushes out lower-income earners to the nearby suburbs, many of those edge cities are struggling to redefine their purpose—and identity—in a new economy.


Buying in Bloom: Mortgage Rates Stage for Start of Spring Season

Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates reversing course from the previous week and heading lower with the start of the spring


Existing-Home Sales and Prices Continue to Rise in February

February existing-home sales and prices affirm a healthy recovery is underway in the housing sector, according to the National Association of REALTORS®. Sales have been above year-ago levels for 20 consecutive months, while prices show 12 consecutive months of year-over-year price increases. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.8 percent to a seasonally adjusted annual rate of 4.98 million in February from an upwardly revised 4.94 million in January,


Eye on the Economy: Home Building Job Growth Ahead

Housing construction activity has increased significantly over the last year across the three primary sectors of home building: single-family, multifamily and remodeling. And that growth in turn means good news for those businesses that support residential construction, including building suppliers and other associated enterprises. While the NAHB forecast for this year calls for additional growth, there are likely to be monthly ups and downs along the way. For example, Census construction spending data reported flat headline growth in January due to declines in the volatile remodeling spending category. Spending on new single-family homes continued to expand, rising 3.6 percent over December’s pace,


Survey Shows Next Gen of Homeowners Prefer Customized Spaces

There’s a new type of homebuyer on the market. They know what they want and are ready to get their hands dirty to transform a house to meet their unique needs. Stereotypical luxury and prototypical homes do not entice them; rather these consumers strive to own homes that stand apart and suit their personal lifestyle… Enter the next generation of homebuyers. Better Homes and Gardens® Real Estate has released national survey findings of 18-35 year-old Americans that reveal the next generation of homeowners are rewriting the rules to homeownership and reinterpreting traditional norms to fit their values. Results indicate that the next generation of homeowners seeks essential, purposeful homes (77 percent) equipped with the technological capabilities