Pending home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year, according to the National Association of Realtors. The Pending Homes Sales Index rose 8.2 percent to 88.8 in May from an upwardly revised 82.1 in April.
KB Home's revenues totaled $271.7 million in the second quarter of 2011, down 27 percent from $374.1 million in the second quarter of 2010. The decrease was mainly due to lower housing revenues.
House prices rose slightly in April, after 10 consecutive months of decline
Data through April 2011, released Tuesday by S&P Indices for its S&P/Case-Shiller Home Price Indices, show a monthly increase in prices for the 10- and 20-City Composites for the first time in eight months. The 10- and 20-City Composites were up 0.8 percent and 0.7 percent, respectively, in April versus March
Sales of new homes beat expectations for May, but are still at historically low levels, according to the U.S. Census Bureau. May sales were at a seasonally adjusted annual rate of 319,000, 13.5 percent above May 2010's record low.
CertainTeed Corporation and the Residential Energy Services Network announced that they are joining forces to help increase residential energy efficiency.
The Masonry Veneer Manufacturers Association (MVMA) publicly announced the winners of the second annual MVMA Design Awards.
Sales of existing homes dropped 15 percent from a year ago, NAR reported
Washington, D.C., has seen home prices grow 220 percent over the last two decades, easily the top growth rate in the country since 1991, according to the Federal Housing Finance Agency’s House Price Index for the first quarter of the year. Even with the severe price drops of the last five years, prices are up 81 percent nationwide for the last 20 years.
Courts all over the country are hearing cases about foreclosure challenges. The outcomes of the hundreds of lawsuits making their ways through the courts could ultimately determine the future of the housing market.