This past week the W Hotel of Fort Lauderdale held a high-end cocktial party to celebrate the launch of the hotel' s new luxury condo residences sales initiative with newly formed MMD Realty. The W Ft. Lauderdale in an upscale 4.5 acre oceanfront condo-hotel that has a total of 171 condominium hotel residences and 346 hotel rooms. Read More
It's a tale of two markets; distress home sales versus normalized sales, that is creating appraisal pricing issues in many markets across the U.S. today. According to a recent nationwide survey conducted by the National Association of Home Builders (NAHB), one out of three builders are reporting losing signed sales contracts during the preceding six months ... Read More
Frank Nothaft Based on Freddie Mac's latest Primary Mortgage Market Survey (PMMS), average fixed mortgage rates largely unchanged and near their record lows helping to keep housing affordability high for those borrowers who are in the market. The 30-year fixed... Read More
Today the Greater Las Vegas Association of Realtors (GLVAR) reported a monthly increase in single-family home sales and prices. Read More
Based on the National Association of Home Builders (NAHB) most recent Multifamily Production Index (MPI), a leading indicator for the multifamily market, shows a continued improvement for the fifth consecutive quarter for the U.S. apartment and condominium housing market. Read More
According to three leading U.S. economists, despite national and global economic headwinds, Florida's real estate market is entering 2012 on an upward trend. But clouds may be on the horizon. "Our state is in a mini-recovery," said Florida Realtors Chief Economist Dr. John Tuccillo at the state association's 2012 Real Estate and Economic Forecast Conference in Orlando. Read More
Based on the most recent quarterly survey by NAHB's Economics and Housing Policy Group on the availability of credit to the housing industry, commercial banks continued year to hold tight reins on acquisition, development and construction loans (A, D & C loans). Read More
(MIAMI, FL) -- According to the Miami Association of Realtors, pended during the month of October in Broward County increased 25 percent, up from 2,633 to 3,356 compared to a year earlier, according to the Broward Council of the Miami Association of Realtors. Compared to the previous month, pended sales increased seven percent. Read More
(MIAMI, FL) -- According to the Miami Association of Realtors, October cumulative pending home sales - including single-family homes and condominiums - in Miami-Dade County were 10 percent above what they were a year earlier, up from 10,264 to 11,245, and 0.4 percent below the previous month, down from 11,296. Read More
Based on Freddie Mac's newest Primary Mortgage Market Survey (PMMS), average fixed mortgage rates changing little and remaining near their historic lows helping to keep home buyer affordability high. The 30-year fixed mortgage has averaged at or below 4.00 percent for the fifth consecutive week ... Read More
Based on Lender Processing Services' October Mortgage Monitor report, mortgage delinquencies continue their decline, now nearly 30 percent off their January 2010 peak.Meanwhile, foreclosure inventories are on the rise, reaching an all-time high at the end of October of... Read More
According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending November 25, mortgage applications decreased 11.7 percent from one week earlier. This week's results include an adjustment to account for the Thanksgiving holiday. Read More
Freddie Mac announced today that they have ordered all evictions involving foreclosed occupied single family and 2-4 unit properties that had Freddie Mac mortgages to be suspended from December 19, 2011 to January 2, 2012. Read More
According to the latest S&P/Case-Shiller Home Price Index released today, home prices nationally did not register a significant change in the third quarter of 2011, with the U.S. National Home Price Index up by only 0.1% from its second quarter level. The national index posted an annual decline of 3.9%, ... Read More
Homebuilders across the U.S. were encouraged with today's economic news of an increase in new home sales this past month. According to newly released data from the U.S. Commerce Department, sales of newly built, single-family homes inched up 1.3 percent to a seasonally adjusted annual rate of 307,000 units in October. Read More
According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), sales of new single-family houses in October 2011 were at a seasonally adjusted annual rate of 307,000. Read More
According to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending November 18, mortgage applications decreased 1.2 percent from one week earlier (which included the Veterans Day holiday). The Market Composite Index, a measure of mortgage loan application volume, decreased 1.2 percent ... Read More
Based on Freddie Mac's latest Primary Mortgage Market Survey (PMMS), fixed mortgage rates changing little and remaining near their historic lows while adjustable-rate mortgages averaged new record lows. The 30-year fixed has averaged at or below 4 percent for the fourth consecutive week. Read More
(MIAMI, FL) -- According to Miami Association of Realtors, sales of existing single-family homes in the Miami Metropolitan Statistical Area (MSA) rose 41 percent in October, from 546 to 769, compared to October 2010. Sales of existing condominiums increased 63 percent, from 739 to 1,202, compared to October 2010. Read More
This week Freddie Mac released its U.S. Economic and Housing Market Outlook for November showing that despite positive economic signs consumers remain worried about their financial well being - a major reason why home sales remain relatively lackluster, despite the most affordable home-buyer market in decades. Read More
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| U.S. Mortgage Rates | Current Rate | Last Week |
|---|---|---|
| 30 yr. Fixed | 3.87% | 3.95% |
| 15 yr. Fixed | 3.19% | 3.27% |
| 5/1 ARM | 2.86% | 2.90% |
Source: Bankrate.com
| U.S. Housing Stats | Nov. 2011 | Oct. 2011 |
|---|---|---|
| Existing Home Sales (Annualized Rate) | 4.42m | 4.25 |
| Existing Home Prices (Median) | $164,200 | $162,500 |
| Existing Home Inventory (all U.S.) | 2.58m | 2.73m |
| Existing Home Supply (Months) | 7.0 | 7.7 |
| New Home Sales (Annualized Rate) | 315,000 | 307,000 |
| New Home Prices (Median) | $214,100 | $212,300 |
| New Home Inventory (all U.S.) | 158,000 | 162,300 |
| New Home Supply (Months) | 6.0 | 6.3 |
| Building Permits (Single Family) | 435,000 | 428,000 |
| Housing Starts (Single Family) | 447,000 | 437,000 |
| Housing Completions (Single Family) | 440,000 | 443,000 |
| Pending Home Sales Index (PHSI) | 92.2 | 89.1 |
| Home Builder Confidence Index (HMI) | 20 | 17 |
Source: NAR & U.S. Commerce Department
| U.S. Foreclosure Stats | Nov. 2011 | Oct. 2011 |
|---|---|---|
| Residential Filings | 224,394 | 230,678 |
| Year Over Year % Change | 14% | 31% |
Source: RealtyTrac
Global Regions Home Price Index (3Q, 2011)
| Region | Annual Price Change | Last Quarterly Change |
|---|---|---|
| Asia Pacific | 6.94% | 0.20% |
| Europe | -0.53% | -0.14% |
| Latin America | 7.62% | 2.56% |
| Middle East / Africa | 2.30% | -0.74% |
| North America | 0.04% | 1.31% |
Source: Knight Frank
50 Country Home Price Index (3Q, 2011)
| Country | Annual Price Change | Quarterly Change |
|---|---|---|
| 1. Hong Kong | 19.3% | -1.1% |
| 2. Estonia | 14.3% | 3.0% |
| 3. India | 13.9% | -0.6% |
| 4. Taiwan | 12.7% | 1.7% |
| 5. Slovenia | 9.0% | 4.7% |
| 6. China | 8.9% | 2.0% |
| 7. Norway | 8.3% | 0.3% |
| 8. Colombia | 7.6% | 2.6% |
| 9. France | 6.7% | 2.8% |
| 10. Iceland | 6.7% | 1.7% |
| 11. Malaysia | 6.6% | -1.3% |
| 12. Turkey | 6.3% | 2.1% |
| 13. Singapore | 6.2% | 1.1% |
| 14. South Africa | 5.5% | 1.1% |
| 15. Austria | 5.1% | 4.1% |
| 16. Indonesia | 4.5% | 0.5% |
| 17. Luxembourg | 4.4% | 2.3% |
| 18. Switzerland | 4.2% | 0.3% |
| 19. Canada | 4.0% | 3.8% |
| 20. Germany | 2.8% | 2.7% |
| 21. Belgium | 2.8% | -0.8% |
| 22. New Zealand | 2.7% | 1.6% |
| 23. Israel | 2.7% | -3.3% |
| 24. Morocco | 1.4% | 1.1% |
| 25. Finland | 1.3% | -1.1% |
| 26. Lithuania | 1.2% | -3.2% |
| 27. Sweden | 1.1% | 0.0% |
| 28. Malta | 0.1% | 2.0% |
| 29. Dubai, UAE | -0.3% | -1.8% |
| 30. United Kingdom | -0.5% | -0.1% |
| 31. Denmark | -0.5% | -0.5% |
| 32. Croatia | -0.9% | 0.8% |
| 33. Italy | -1.4% | -0.4% |
| 34. Australia | -2.2% | -1.2% |
| 35. Hungary | -2.7% | -1.9% |
| 36. Netherlands | -2.9% | -1.1% |
| 37. Portugal | -3.2% | -2.1% |
| 38. Japan | -3.2% | -0.8% |
| 39. United States | -3.9% | -1.2% |
| 40. Greece | -4.1% | -2.1% |
| 41. Slovak Republic | -4.3% | -0.6% |
| 42. Jersey | -4.3% | -5.0% |
| 43. Latvia | -4.9% | -1.0% |
| 44. Czech Rep. | -5.2% | -0.6% |
| 45. Spain | -5.5% | -1.3% |
| 46. Poland | -5.8% | -2.4% |
| 47. Bulgaria | -6.1% | -0.8% |
| 48. Cyprus | -6.6% | -0.9% |
| 49. Ukraine | -8.4% | -3.6% |
| 50. Russia | -10.7% | 1.7% |
Source: Knight Frank
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