Category Archives: ***HOUSING WATCH

HOUSING WATCH: FLORIDA UPDATE

Posted on July 29, 2010 by Denis Ouellet

Florida existing single-family home sales improved 15% y/y in June, decelerating relative to May’s 18% y/y increase. Despite a positive tailwind from the homebuyer tax credit, y/y gains in single-family sales (representing closings) have moderated since April. Positively, though, it … Continue reading →

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MORTGAGE APPLICATIONS RISE FOR 2nd WEEK

Posted on July 28, 2010 by Denis Ouellet

The Mortgage Bankers Association’ purchase applications climbed 2.0% last week. Purchase applications improved for the second consecutive week. The index has increased 6% over the past two weeks and is back to late-June levels. This is another glimmer of hope … Continue reading →

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CHINA RESIDENTIAL MARKET REMAINS HEALTHY

Posted on July 28, 2010 by Denis Ouellet

CLSA’a Andy Rothman remains optimistic on China and its housing sector: Our view on the residential market is based in part on our belief that housing fundamentals in China are very healthy – – strong demand, primarily from owner/occupiers; very … Continue reading →

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QUICK READS

Posted on July 22, 2010 by Denis Ouellet

Senate Approves Jobless-Benefits Bill The Senate voted to approve an extension of U.S. jobless benefits through November, providing a four-month lifeline to long-term unemployed Americans unable to find work. (WSJ) Brazil raises interest rates to 10.75% Rise in key Selic … Continue reading →

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MORTGAGE PURCHASE APPS FINALLY IMPROVE

Posted on July 21, 2010 by Denis Ouellet

Purchase applications improve 3.4%. Purchase applications improved for the first time in over a month, with the seasonally adjusted purchase index rising 3.4% in this morning’s release. This is an encouraging sign, in our view, that demand could be slowly … Continue reading →

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HOUSING WATCH: LAS VEGAS MARKET IS GETTING SICKER

Posted on July 15, 2010 by Denis Ouellet

The tax credit expiry has had not positive effect!!!! The double dip in housing is happening. “Fortunately”, housing is now only 2.5% of the economy. Las Vegas single family sales fell 11% y/y in June, matching the 11% y/y decrease … Continue reading →

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Apartment Vacancies Fell in Quarter

Posted on July 8, 2010 by Denis Ouellet

(…) The national apartment vacancy rate stood at 7.8% at the end of June, according to Reis Inc., a New York real-estate research firm. That was down from the 8% vacancy rate during the first quarter, which was the highest … Continue reading →

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Q2 FORECLOSURE FILINGS DROP 49% IN SOUTH FLORIDA

Posted on July 6, 2010 by Denis Ouellet

Lenders filed 49 percent fewer foreclosure actions against borrowers in the tricounty South Florida region in the second quarter of 2010 compared to a year earlier, according to a new report by CondoVultures.com. Banks initiated about 14,500 foreclosure actions in … Continue reading →

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HOUSING WATCH: TEXAS UPDATE

Posted on June 29, 2010 by Denis Ouellet

Sales up 18% y/y. Existing home sales in Texas moderated in May, rising 18% y/y relative to April’s +26% y/y result. In our view, y/y sales comparisons (representing closings) are likely to remain relatively strong next month as pending contracts … Continue reading →

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New Home Sales at Historic Low

Posted on June 24, 2010 by Denis Ouellet

Now you know why you should not rely on economists expectations. And the meaning of “pushing on a string” and, likely, double dip, at least for the housing market. After the March and April readings of new home sales beat … Continue reading →

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Existing Home Sales Surprise to the Downside

Posted on June 22, 2010 by Denis Ouellet

The Data: 5.66 million = May existing home sales (seasonally adjusted annual pace); up 19.2% y/y, down 2.2% m/m, below consensus of 6.2 million 3.892 million = May existing home inventory (for-sale listings); up 1.1% y/y, down 3.4% m/m, representing … Continue reading →

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HOUSING WATCH: PHOENIX UPDATE

Posted on June 21, 2010 by Denis Ouellet

Phoenix existing homes sales fell 2% y/y in May, after rising 8% y/y and 17% y/y in April and March, respectively. This is Phoenix’s first y/y decline in sales since May 2008. We believe a limited supply of lower-price-point listings … Continue reading →

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