IHS Global, a firm specializing in economic and financial information, predicts that construction spending in 2011 will be flat, according to its Fourth Quarter U.S. Construction Briefing. Although overall spending fell 8.3 percent in 2010, the report predicts that gains in the residential and commercial sectors will help it level.
Nearly half (49 percent) of U.S. adults are at least somewhat likely to consider purchasing a foreclosed property, up from 45 percent in May 2010, according to the latest results of an ongoing survey tracking homebuyers' attitudes toward foreclosed homes by Harris Interactive on behalf on Trulia and RealtyTrac.
Americans continue to grapple with uncertainty about the housing market, with 58 percent of U.S. adults expecting recovery to take at least another two years, according to the latest results of an ongoing survey tracking homebuyers' attitudes toward foreclosed homes by Harris Interactive on behalf on Trulia and RealtyTrac.
Data from real-estate brokerage firm ZipRealty Inc. showed that the number of homes for sale declined by 3.8 percent in November in 26 major metropolitan areas, the Wall Street Journal reported. The information covers single-family homes, condos and townhouses for sale in cities where the Emeryville, Calif.-based firm operates. The inventory of homes was still 11.6 percent higher than November of last year, however.
America’s 10 largest publicly traded home builders have started to improve their policies and practices relating to the environment and resources, but much progress remains to be achieved, according to a new study by Calvert Investments, a sustainable and responsible investment firm. KB Home and Pulte ranked at the top of Calvert’s list, while Meritage Homes, Toll Brothers, and Standard Pacific all improved against Calvert’s previous ranking. DR Horton and Ryland Group lost ground.
The Pending Home Sales Index rose to 89.3 in October, a 10.4 percent gain over the previous month, according to the National Association of Realtors. The index, which is based on contracts during October, remained 20.5 percent lower than in October 2009, when the deadline for the homebuyers tax credit caused a surge.
Consumer confidence in the U.S. increased in November, rising to its highest level in five months. The Conference Board’s sentiment index rose to 54.1, exceeding estimates by a Bloomberg survey of economists that it would increase to 53. Meanwhile, the Institute for Supply Management’s business gauge rose to it highest since April, indicating that business activity also is increasing.
The U.S. housing industry is likely to see increased demand for rental properties, according to the latest Fannie Mae National Housing Survey, which collected data from 3,417 households. For the first time in the survey’s history, delinquent borrowers are more likely to say that they would rent their next home instead of buying.
The S&P/Case-Shiller home-price indexes showed that home prices went down between August and September, and that third quarter prices also were down, according to a report by the Wall Street Journal. The indexes also indicated that the rate of decline may be accelerating.
A survey by Fannie Mae showed that Americans' confidence in the housing market dropped during the third quarter of 2010. The survey, which polled 3,417 households in July, August, and September, indicated that 85 percent think it is a bad time to sell a home, two percent higher than in June. Sixty-eight percent think it's a good time to buy a home, down two percent from June.