Northeast Leads Gain in Pending Home Sales
Pending home sales for the country increased last month, and the gain was led by activity in the Northeast.
Northeast Leads New US Home Sales to 7-Year High
More than seven years have passed since the rate of new home sales was as good as it was last month. The rate soared in the Northeast.
1st Time Buyers Help Existing Home Sales Surge
Sales of pre-owned homes leapt last month to the highest level in more than five years, and it was first-time home buyers who helped fuel the surge.
Mortgage Executives See Home Prices Rising
Senior mortgage executives are optimistic about home prices, though a diminishing share expect loan demand to increase over the next three months.
Boomerang Borrowers Could Boost Mortgage Biz
Lending to all borrowers who were negatively impacted by the mortgage crisis but have since recovered would exceed $400 billion over the next few years if all of them returned to the housing market. But many won't even be aware of their eligibility.
Average LTV Declines
Residential lenders saw improvement in their collective equity position as more underwater borrowers moved to a positive-equity position.
Building Permits Soar Despite Drop in Construction
The bad news is that home builders started construction on fewer homes last month. The good news is that new permits for home construction were solidly higher.
Pending Home Sales Climb to 9-Year High
The number of residential properties under contract increased last month to the highest level in nine years. In addition, home price gains were strong.
New Home Sales Explode in Midwest
The nation's new home sales took off last month, and in the Midwest -- sales of new houses skyrocketed.
Tight Supply Constrains Existing Home Sales
Monthly sales of previously owned homes slowed, and a stubbornly tight supply of properties was blamed for the weakness.