News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Brent Nyitray / Market Realist / August 1, 2013
Foreclosures are probably one of the most potent political issues with respect to the housing market right now
Foreclosures have been blamed for driving down the real estate market and holding down prices. They also cause a great amount of social pain and political focus. The stated purpose of all of the federal government’s activity in response to the crisis was to prevent foreclosures—although the unstated reason was to take supply off the real estate market in order to support prices.
In this series, Brent Nyitray looks at foreclosures and how they affect homebuildersRead More
Jed Kolko / Trulia / July 30, 2013
In June, the housing market was 54% back to normal, down from 60% in May. But looking back at the first half of 2013 reveals a housing recovery that’s moving ahead with few red flags.
Instead of our usual monthly Housing Barometer, we’re taking a mid-year temperature check of the housing market while looking ahead at what to expect throughout the rest of this year. All three of our regular Housing Barometer measures – new construction starts, existing home sales, and the delinquency + foreclosure rate – stumbled in June, pushing the recovery down from 60% “back to normal” in
Realty Trac / July 9, 2013
Foreclosure Starts on Pace to Hit 800,000 for Year, REOs Nearly 500,000 for Year, Florida, Nevada, Illinois Post Highest State Foreclosure Rates in First Half of Year
IRVINE, Calif. – July 11, 2013 — RealtyTrac® (www.realtytrac.com), the leading online marketplace for real estate data, today released its Midyear 2013 U.S. Foreclosure Market Report™, which shows a total of 801,359 U.S. properties with foreclosure filings — default notices, scheduled auctions and bank repossessions — in the first half of 2013, a 19 percent decrease from the previous six months and down
Dan Levy / Bloomberg Businessweek / May 30, 2013
Foreclosure (HOMFCLOS)-related U.S. home sales fell 22 percent in the first quarter from a year earlier as rising prices reduced the incentive to sell for owners who owe more than their properties are worth, RealtyTrac said.
A total of 190,121 homes in some stage of foreclosure or taken by banks were sold this year through March 31, down 18 percent from the previous three months, the data seller said today. Those deals, including short sales, or transactions in which lenders let homeowners sell for less than what they owe, accounted for 21 percent of first-quarter residential transactions,Read More
Journal of Light Construction / May 15, 2013
They started building their property portfolios by paying low-ball prices in cash for foreclosed bank-owned properties. But now, big investment companies have started to purchase new houses too, according to a report in Bloomberg BusinessWeek (“Private Equity Taps Builders as Foreclosures Vanish,” by John Gittelsohn).
“Landsmith LP paid $32.5 million this month for 250 Houston-area houses that were built last year,” the report says. “The firm, which began buying properties to rent in 2009, has 2,000 lots for new homes under contract and expects to purchaseRead More