But today’s new-home buyer may surprise you.
Let’s start by looking at a few builder and consumer statistics presented during the International Builders’ Show in Orlando Thursday. Read more
Home prices were on the downswing in the third quarter, according to the latest report from both the Case-Shiller Index and the Federal Housing Finance Agency.
The indices found that while levels were below third quarter 2010 numbers and the annual rate of decline for the last quarter range from 3.6 to 3.9 percent.
“Home prices drifted lower in September and the third quarter,” says David M. Blitzer, Chairman of the Index Committee at S&P Indices. “The National Index was down 3.9% versus the third quarter of 2010 and up only 0.1% from the previous quarter. Three cities posted new index lows in September 2011 – Atlanta, Las Vegas and Phoenix. Seventeen of the 20 cities and both Composites were down for the month. Over the last year home prices in most cities drifted lower. The plunging collapse of prices seen in 2007-2009 seems to be behind us. Any chance for a sustained recovery will probably need a stronger economy.” Read more
by Phoebe Chongchua
It’s billed as the American Dream and yet for some it’s been an all-time American nightmare.
Still “the home is central to American life” writes the National Association of Homebuilders in its report titled: Homeownership Works, released earlier this year.
Of course the report aims to show how housing is vital not just to homeowners but to the nation’s growth. The publication looks at the contributions that homeownership make to the economy specifically through residential construction, remodeling, rental housing, and various other related aspects of the industry. Read more