Posts Tagged ‘decline’

MH Gaining Strength in Hoosier State

January 17th, 2013 Comments off

Mark Bowersox of the Indiana Manufactured Housing Association (IMHA) reports Indiana witnessed a 6.6 percent decline in MH shipments Nov. 2012 over Nov. 2011, but for the year shipments have increased 21.1 percent. As MHProNews has learned, the state’s production of manufactured homes Jan. through Nov. 2012 rose to 4,386, a 3.2 percent increase over the 4,252 homes for the same period of 2011.

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Home Prices Continue Upward

December 27th, 2012 Comments off

HousingWire reports four of the five hardest-hit housing market states are witnessing positive home price increases year-over-year. Of the 19 states that received $7.6 billion in aid from the federal government, California, Florida, Arizona, and Georgia had increases in Oct. over Oct. 2011, while Illinois experienced a 1.3 percent decline in Chicago. San Francisco saw an 8.9 percent increase from the previous Oct. while Los Angeles’ home prices grew 6.2 percent. As MHProNews learned independently, Florida has had over 500,000 foreclosures. Tampa home prices have risen 5.9 percent year-over-year, and in Miami, prices grew 8.5 percent. While Atlanta prices fell 0.4 percent from Sept. to Oct. of this year, they rose 4.9 percent Oct. to Oct. Meanwhile, in Arizona Phoenix is experiencing a growth rate of 21.7 percent Oct. year-over-year, and an increase of 1.4 percent Sept. to Oct. this year.

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Building Permit Applications Rise

December 19th, 2012 Comments off

CNNMoney reports U.S. Census Bureau data indicates new home construction fell three percent from Oct. numbers but still was 21.6 percent above year-ago levels. The decline of new home construction to an annual pace of 861,000 units in November may be the result of Hurricane Sandy hitting the Northeast, which saw a drop of 5.2 percent Oct. to Nov. 2012. Similarly, building permits in the Northeast fell five percent in Nov. compared to Nov. 2011, while permits in the Midwest spiked 49.5 percent, hit 29.2 percent in the south and 22.2 percent in the West. As MHProNews has learned, overall new building permits increased 3.6 percent over Oct. 2012 and 26.8 percent over Nov. 2011.

(Photo credit: HousingWire)

New Home Construction Hits Four-year High

October 17th, 2012 1 comment

The National Association of Home Builders says statistics from HUD and the U.S. Census Bureau report new home construction shot up 15 percent to a seasonally-adjusted annual rate (SAAR) of 872,000 units. New single-family home construction accounted for 11 percent of the increase, 603,000 units, the best rate since Aug. of 2008. New multi-family home production spiked 25.1 percent to 269,000 units, the best pace since Sept. 2008. Meanwhile, permit issuance for new home construction rose 11.6 percent in Sept. to 864,000 units. MHProNews has learned new home construction and permit issuance rates are the strongest numbers in both categories in over four years. Regionally, new home construction rose in three of the four area, with only the Northeast showing a decline.

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Foreclosure Filings Fall

October 12th, 2012 Comments off

According to nationalmortgagenews foreclosure filings dropped seven percent in Sept. to the lowest reading since the fourth quarter of 2007, a total of 180,427 properties. RealtyTrac tells MHProNews filings fell year-over-year 16 percent. For the third quarter 2012, the 531,576 foreclosure filings amount to a five percent decline from the second quarter and 13 percent from the same period last year. Foreclosures declined the most in nonjudicial states such as Nevada, Oregon, California, Georgia, Texas and Arizona. Florida, Illinois, Ohio, New York and New Jersey, all judicial states, showed an increase in foreclosures year-over-year in Sept. as well as for Q3 2012.

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Shadow Inventory Declines

October 10th, 2012 Comments off

According to nationalmortgagenews ,CoreLogic says residential shadow inventory as of July 2012 dropped to 2.3 million units from 2.6 million units a year ago, a decline of 10.2 percent. Of the 2.3 million, one million are seriously delinquent, 900,000 are going thru foreclosure, and 345,000 are already real estate owned (REO). “This is yet another hopeful sign that the housing market is slowly healing,” said Anand Nallathambi, president and CEO of CoreLogic. As MHProNews has learned, Florida, California, Illinois, New York and New Jersey account for 45% of all distressed properties in the country.

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Skyline Q1 2013: Improved Net Loss

October 9th, 2012 Comments off

RVBusiness says manufactured home and recreational vehicle manufacturer Skyline Corp. has reported an improved net loss for its first quarter 2013, as well as a slight drop in sales. This quarter loss amounted to $3.5 million as compared to a $6.8 million loss a year ago. Total sales fell from $50.3 million for the same period a year ago to $49.9 million Q1 2013. RV sales dropped from $21.1 million a year ago to $19 million the first quarter, while MHProNews has learned manufactured housing sales rose from $29.1 million a year ago to $30.9 million. The company said a drop in the RV sector resulted from a decline in sales to Canadian dealers.

(Image credit: Skyline Corp.)

New Home Sales Stabilized in August

September 28th, 2012 Comments off

The National Association of Home Builders reports the pace of new home sales held steady in August at the seasonally-adjusted annual rate (SAAR) of 337,000 units, virtually unchanged from July, according to data from HUD and the U.S. Census Bureau. NAHB Chief Economist David Crowe says, “This latest report indicates that new-home sales continue to run at a steady pace that’s well ahead of what we were seeing this time last year, and at this rate, the third quarter of 2012 is going to be well ahead of the second quarter.” He also notes homes in the higher price range, $400,000 and above, sold well in August, while first-time buyers continue to have a difficult time obtaining credit. Regionally, the sale of homes in the Northeast rose 20 percent, 1.8 percent in the Midwest, and 0.9 percent in the West. As MHProNews has learned, the South posted a decline of 4.9 percent in sales.

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Pending Home Sales Rise in California

September 26th, 2012 Comments off

As HousingWire reports, the pending home sales index rose 2.7 percent from 115.8 in July to 118.9 in August even with available inventory levels falling, according to the California Association of Realtors (CAR). However, the pending sales index in Aug. 2011 was 121.4. The decline, says CAR President LeFrancis Arnold, is due to a gradual drop in the last five months of availability of homes for sale. Meanwhile, MHProNews has learned real estate owned (REO) home sales comprised only 14.4 percent of August sales, a drop from 17.4 percent in July and 27.8 percent in Aug. 2011.

(Photo credit: Paul Sakuma/AP Photo)

Mortgage Apps Rise

September 13th, 2012 Comments off

nationalmortgagenews (NMN) tells MHProNews the Mortgage Bankers Association (MBA) says mortgage applications jumped 11 percent for the week ending Sept. 7 after several weeks of decline. Noting the holiday may have given potential borrowers an extra day to apply online, the trade group says refinancings accounted for 80 percent of the applications, up by a point over the previous week. According to information from NMN and the Quarterly Data Report, for Q2 refis accounted for 72 percent of all business.

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