The price of newly constructed homes refuses to budge downwards. After hitting the cyclical low of $204,000 in October of 2010, the typical transaction price of new homes has been around $220,000. In July, the median sold price of a new home was $222,000. Though construction workers’ wages have not changed in the past four […]... Read More
This is a guest blog post by Lora McCray, NAR’s Manager of Housing Opportunity. Last month the NAR’s Housing Opportunity program released the findings from its 2011 Housing Pulse Survey, which is an annual survey we conduct to gain information on consumers’ attitudes and concerns about affordable housing. We wanted to get a sense, particularly […]... Read More
It is widely believed that the rate on the 30-year fixed rate mortgage tracks the 10-year Treasury bond. This is true, but during certain episodes the relationship between the two rates appears to weaken, which leads some to suspect that the two have become unhinged. In fact, rational market dynamics are at work.
The 30-year fixed […]... Read More
One of the benefits of living in the Washington D.C. area is the free national museums. There is no such thing as a free lunch, so aside from charitable gifts, the nation’s taxpayers are footing the bill. A taxpayer subsidy can be justified if the service or product provides societal benefits well beyond the individual […]... Read More
The National Flood Insurance Program (NFIP) is essential to successfully completing half a million home sales annually. When NFIP lapsed from May 31 to July 2 in 2010, the REALTORS® Confidence Index showed 6 percent of REALTORS® had at least one delayed or cancelled home sale, amounting to 46,886 transactions during that 33-day period or […]... Read More
The housing market has been providing mixed messages lately. Relatively good news is spouted by the media one day, followed by bad news the next. From home prices and mortgage default rates to home sales and housing starts, housing-related data appear to move in incongruous paths. One particular area where messages get mixed relates to […]... Read More