Recent reports from the National Association of Realtors and the Census Bureau/HUD showed sharp increases in unit sales and prices, as well as increases in the inventory of homes for sale for April. Has housing turned the corner? Look again. Sales up, prices up, what’s wrong with this picture? The last time both prices and sales of new homes increased in the same month was last September. In all of 2012, sales and prices moved in opposite directions in seven of the 12 months. What of course is missing from the two data sets is any indication of demand.
In April, the share of sales involving foreclosures and short sales maintained their downward path, falling to the lowest level since 2009, according to the Campbell/Inside Mortgage Finance HousingPulse Tracking survey. Using a three-month moving average, the survey found distressed sales accounted for 33 percent of home purchases in April, a decrease from 35.6 percent in March and 43.6 percent in April 2012. As expected, investor activity also slowed during the same time period.
Strong majority of buyers believe market has shifted toward sellers. Read More
Freddie Mac's total mortgage portfolio expanded in April, but growth slowed as purchase and issuance activity declined from March, the GSE reported. According to Freddie Mac's monthly volume summary, its total portfolio ... read more
As home values improve and servicers continue to ramp up efforts to reduce delinquent pipelines through short sales and loan modifications, the composition of RMBS loan pools outstanding should also improve, according to ... read more
Although data shows women generally earn less income than men, results from a recent Experian study found women come out ahead when comparing how mortgage debt is managed. According to the study, men were more likely to ... read more