Monthly Archives: April 2012

Texas Mortgage Market Update – For the week of April 30, 2012 – Those who continue to work the housing market are in fact seeing more opportunity. Thursday’s Pending Home Sales rose in March to their highest level in almost two years when the looming expiration of the homebuyer tax credit was boosting sales. This National Association of Realtors (NAR) index is a measure of contracts signed for existing homes, which typically close a month or two out. It was UP a seasonally adjusted 4.1% for the month and UP a non-seasonally adjusted 10.8% from a year ago. Continue reading →

Texas Mortgage Market Update – For the week of April 23, 2012 – People say home building can’t recover any time soon. Yet the signs continue to mount that a recovery is underway. Off 5.8% for March, Housing Starts are up 10.3% from a year ago, to a 654,000 unit annual rate. The monthly drop came from volatile multi-family starts, while single-family units were down only 0.2%. And the number of homes under construction was up for the seventh month in a row! Even Building Permits are up 30.1% versus a year ago. It’s early in the home building recovery, but some are saying we could get to 1.5 million units by 2016. Continue reading →

Texas Mortgage Market Update – For the week of April 16, 2012 – When people tell you the housing market isn’t showing many positive signs, here are some facts that may change their minds. As of January, the National Association of Realtors (NAR) reported the housing inventory of for-sale homes has fallen to its lowest level since March 2005 — 2.3 million homes, about a six-month supply. Meanwhile, total home sales rose 13% in the last six months, according to another industry survey. Continue reading →

Texas Mortgage Market Update – For the week of April 9, 2012 – Hopefully, more people will be taking a shot at buying a home, with home ownership regaining its appeal as rents head higher. A real estate research firm reported average apartment rents UP 2.7% last year, while the national vacancy rate went below 5% for the first time since 2001. Increasing rents, plus very affordable home prices and near record low mortgage rates, have made home buying cheaper than renting in most areas, spurring on first-time buyers. Continue reading →

Texas Mortgage Market Update – For the week of April 2, 2012 – Last week’s housing reports supported the fact there are great opportunities in today’s real estate market, as long as you don’t look at just part of the data and jump to conclusions. For example, February Pending Home Sales, measuring contracts on existing homes, were off 0.5% for the month. But wait a second, Pending Home Sales are now UP 13.9% over a year ago! Continue reading →