Dennis Norman

Yes, the headline is correct….New home sales in June were up 23 percent from May, but unfortunately the revised May annual new home sales rate of 267,000 was the lowest rate of sale on record therefore even after a 23.6 percent increase it only brought June up to 330,000 new homes, a rate [...] Related posts:

1. New Home Sales in Midwest drop 7.6 percent in July; All other regions saw increase for July
2. New Home Sales in US through October; UP 5.1 percent OR DOWN 24.1 percent from a year ago, take your pick
3. New-Home Sales Crash In May after Sugar-Rush of Tax Credit Sales

The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued a their report on New Residential Construction for June 2010 showing a decrease in building permits and a decrease in new home starts from May.

The report shows the following:

1. Building Permits Jump in March; New Home Construction Still Outpacing Sales
2. New home starts and completions in July down from June; Permits are up
3. New Home Permits Drop Almost 10 Percent in May; New Home Starts Drop 17 Percent

Dennis Norman

Less Is More

Over the past decade or so it seems everything has gotten “super-sized” to the point of absurdity in my opinion. Therefore I find it refreshing to see that, according to the “Home Trends 2010″ report by the Real Estate Buyer’s Agent Council, home buyers are scaling down both in size and [...] Related posts:

1. What homes are selling in St. Louis?
2. Nearly 233,000 Foreclosure and Bank-Owned Homes Sold in First Quarter
3. Homes are affordable; Should you buy? Rent? Do home prices need to fall further?

Dennis Norman

Last month after the new home sales reports came out I had this to say:

“I’m very encouraged by home sales in March and April, both in new homes and existing home sales and, if it wasn’t for the fact the homebuyer tax-credit incentive expired April 30th, no doubt a factor [...] Related posts:

1. Tax Credit Deadline Spurs New Home Sales in April; Prices Drop
2. Pending Home Sales Increase In April as Buyers Rush to Beat Tax Credit Deadline
3. Home Sales Fall Slightly in May; Still Propped-Up By Tax Credit Deals

The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued a their report on New Residential Construction for May 2010 showing a decrease in building permits and a decrease in new home starts from April.

The report shows the following:

1. New Home Building Permits and Starts Down In June
2. Building Permits Jump in March; New Home Construction Still Outpacing Sales
3. New home starts and completions in July down from June; Permits are up

Dennis Norman

After seeing a spike in permits for new homes in St. Louis in March, with the exception of the City of St. Louis, all the St. Louis metro area counties saw a decline in new home permits in April, some rather steep based upon the latest data reported by the Home Builders Association [...] Related posts:

1. New home building permits in St. Louis down 10 percent from a year ago; Multi-family permits down 54 percent
2. Building Permits Jump in March; New Home Construction Still Outpacing Sales
3. New Home Building Permits and Starts Down In June

Dennis Norman

Earlier this month I did a post about important legislation in Missouri, specifically HB 2058, which would make badly needed changes to the Missouri Mechanic’s Lien Statute, because if it didn’t pass purchasers of new homes would face hurdles obtaining long-term fixed-rate mortgages as title companies have threatened to stop providing mechanic’s lien [...] Related posts:

1. No More Fixed-Rate Loans On New Homes If Missouri Lawmakers Don’t Act Quickly
2. Mortgage Delinquencies Increase In May; 1 in 8 Borrowers At Risk of Losing Home
3. MHDC approves $20 Million incentive for Missouri home buyers

Dennis Norman

1. Pending Home Sales Increase In April as Buyers Rush to Beat Tax Credit Deadline
2. New-Home Sales Crash In May after Sugar-Rush of Tax Credit Sales
3. Existing Home Sales Increase In April As Tax Credits End

Dennis Norman

UPDATE – May 17, 2010 – THANKS TO MISSOURI LAWMAKERS (and the efforts of the Missouri Association of REALTORS and St. Louis Home Builders Association, readers of this post that responded, and others) THE MECHANICS LIEN LAW PASSED!  ASSUMING THE GOVERNOR SIGNS IT INTO LAW FINANCING ON NEW HOMES AS WE KNOW IT [...] Related posts:

1. New Home Buyers At Risk of Losing Fixed-Rate Mortgages Again
2. Refinancing borrowers choose fixed-rate loans over ARMS
3. Interest rates drop below 5 percent for 30 year fixed rate loan; applications increase

Dennis Norman

1. St. Louis Real Estate Market shows signs of stabilizing
2. Building Permits Jump in March; New Home Construction Still Outpacing Sales
3. Existing Home Sales Jump in March – St. Louis Shows Strong