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Census: New Home Sales Weaker Than Expected In June, Fall 6.8 Percent From Revised May Numbers

The Census Bureau released new home sales data for June, and the numbers were lighter than expected. New home sales for June posted at a seasonally adjusted annual rate of 482,000, much lighter than the 550,000 expectations, and down 6.8 percent from the revised May numbers of 517,000.  The previous three months were revised downward by a total of 49 thousand. Per the Census, the average price of new home sold in June was $328,700, below the $338,100 figure in June of 2014 and the lowest average price posted all year. The median price of [...]

KB Home Reports 2% Increase In Q2 2015 Deliveries With 30% Larger Community Count

KB Home reported second quarter 2015 earnings today, and the results were unsurprisingly tepid. Even though KB's average community count was 30 percent higher than the same quarter a year ago (248 vs 191 last year), KB was only able to muster a 2 percent increase in home deliveries for the second quarter. KB Home's revenues were up 18 percent from the same period a year ago, and average selling prices increased 7 percent, rising from $313,200 last year to $334,200. Despite the higher prices, KB's net income fell, and the company's housing gross profit [...]

By | 2016-02-02T11:41:46+00:00 June 19th, 2015|Economy, Markets, Real Estate|0 Comments

January New Home Sales Beat Expectations

The Census Bureau reported that new homes sales were better than expected in January, posting at a seasonally adjusted annual rate of 481,000 vs expectations of 471,000. The inventory of new U.S homes stood at 5.4 months of supply in January. Bad weather apparently wasn't an issue, as sales in the Midwest rose 21 percent for the month. The average price of a new home was $348,300 in January, down sharply from December but up 3.2 percent from a year ago. This was a decent report for home builders, but now the real challenge begins. [...]

By | 2016-09-29T13:15:47+00:00 February 25th, 2015|Development, Economy, Mortgage Rates, New Home Sales, Real Estate|0 Comments

Warped, Manipulated, Flipped & Distorted – The New U.S. Housing Market

That's the message from Jim Quinn at The Burning Platform. As much as I would like to disagree with him, he's right. The reflation of U.S. real estate has been a spectacle to behold, particularly when you consider the mountains of fraud that were buried fines that were paid and money that was printed along the way to make it possible. By most measures, 2013 was a banner year in terms of U.S. housing, at least as far as prices were concerned.  But what about the health of actual market?  That's a question posed by Quinn, and ignored [...]

Mortgage Monitor – 2013 Loans Best Vintage In Years, But Housing Headwinds Remain

Black Night Financial (formerly LPS) is out with its latest Mortgage Monitor report, and it notes that 2013 was a good year in terms of performing vintages. Loan performance improved significantly. The report also notes that home equity originations are up, not surprising with the recent rise in home prices around the country. The rise in home equity loans is concerning considering that much of the recent home price appreciation has been driven by artificial stimuli. The collapse in refinance originations is also highlighted in the report, noting that 4 million fewer loans are 'refinancible' [...]

By | 2014-07-24T12:10:45+00:00 January 14th, 2014|Mortgage Rates, Real Estate|0 Comments

Protecting Your Exterior Pipes And Backflow Preventer In A Hard Freeze

Katy TX and West Houston generally get colder temperatures than areas closer to downtown Houston. In the event of a hard freeze, there are some things you can do to avoid some unpleasant plumbing surprises.  This is a quick how-to video of what you can do to protect your backflow prevention device and exterior pipes if freezing temperatures stick around for longer than normal. You can keep your backflow preventer from exploding in a hard freeze by turning off the valve for the incoming water supply and then opening the bleed valves (test ports) to release any pressure. Make [...]

By | 2016-02-02T03:16:11+00:00 January 4th, 2014|Texas Real Estate|0 Comments