Lennar Corp. is investing in failed bank loans and distressed real estate assets to boost revenue as demand for new houses shows few signs of revival.
U.S. mortgage foreclosure filings dropped for a second straight month in February, and notched the smallest annual increase in four years as housing-rescue efforts contained activity.
According to a new report from London-based research firm Capital Economics, houses in the United States are nearly 20% undervalued when compared to global markets.
Pending home sales dropped in January and more declines are expected, according to the National Association of Realtors.
Homebuilder Hovnanian Enterprises Inc has posted its first profit since 2006, helped by a tax benefit.
Americans remain strongly committed to federal support for home buyers, according to a recent survey of U.S. households. Roughly 68% of those polled said the government should continue to support housing, and 65% believe the government should be doing more to keep families from losing their homes to foreclosure.
Orleans Homebuilders Inc. announced that it has defaulted on a $350 million loan, due to insufficient funds to repay the amount owed to its creditor. It also failed to renegotiate the terms of the loan.
Market conditions for residential remodeling dropped during the fourth quarter of 2009 to 36.4 from 39.8 in the third quarter, according to the latest National Association of Home Builders’ Remodeling Market Index (RMI). The RMI measures remodeler perceptions of market demand for current and future residential remodeling projects, and any number below 50 indicates that more remodelers say market conditions are getting worse than report improving conditions.
Builder confidence in the market for newly built, single-family homes rose two points to 17 in February as favorable home buying conditions and signs of healing in the job market helped boost the National Association of Home Builders/Wells Fargo Housing Market Index.
After 18 months of not funding single-family loans, the Wisconsin Housing and Economic Development Authority (WHEDA) re-entered the affordable home loan market with the help of Fannie Mae. The WHEDA Fannie Mae Advantage is available beginning March 1st.