Movement To Expand Home Buyer Tax Credit Gains Steam
Some federal bills would increase amount available for all buyers. But budget deficits raise questions about the extent of state programs, particularly in California.
Some federal bills would increase amount available for all buyers. But budget deficits raise questions about the extent of state programs, particularly in California.
Source: BUILDER Online
By John Caulfield
Pressure on lawmakers to extend and increase the federal tax credit for home buyers has intensified in recent weeks. Congressional committees are now weighing no fewer than seven housing tax credit-related bills. Prominent business groups have lent their support for such measures. And governors of several states have authorized their own tax credits or advances on the federal credit. So far, though, only lawmakers in California have indicated they'd like to see their state's largesse extend beyond this year. Read more.
Pressure on lawmakers to extend and increase the federal tax credit for home buyers has intensified in recent weeks. Congressional committees are now weighing no fewer than seven housing tax credit-related bills. Prominent business groups have lent their support for such measures. And governors of several states have authorized their own tax credits or advances on the federal credit. So far, though, only lawmakers in California have indicated they'd like to see their state's largesse extend beyond this year. Read more.
A price index of lumber and panels used in actual construction for June 26, 2009
*Western - regional species perimeter foundation; Southern - regional species slab construction.
Crow's Market Recap -- A condensed recap of the market conditions for the major North American softwood lumber and panel products as reported in Crow’s Weekly Market Report. Read more.
*Western - regional species perimeter foundation; Southern - regional species slab construction.
Crow's Market Recap -- A condensed recap of the market conditions for the major North American softwood lumber and panel products as reported in Crow’s Weekly Market Report. Read more.
Builders Indicate 'Cautious Optimism'
Sales, traffic improving even in move-up and active adult markets
Sales, traffic improving even in move-up and active adult markets
Source: BUILDER Online
By Alison Rice
The mood of the moment for builders? Cautious optimism. At the Jones Company of Tennessee, traffic has improved in May and June compared to the early months of 2009. "We are cautiously optimistic," said Bridget Wright, marketing director for the Franklin, Tenn.-based firm. Read more.
The mood of the moment for builders? Cautious optimism. At the Jones Company of Tennessee, traffic has improved in May and June compared to the early months of 2009. "We are cautiously optimistic," said Bridget Wright, marketing director for the Franklin, Tenn.-based firm. Read more.
Poised for a Comeback
The window industry's annual market report contains both good news and bad
The window industry's annual market report contains both good news and bad
Source: REPLACEMENT CONTRACTOR Magazine
With housing starts down in double digits for 2008, the window industry could hardly expect to be booming. And guess what? It's not.The recently released "2008/2009 AAMA/WDMA U.S. National Statistical Review and Forecast," a numbingly thorough examination of the door, window, and skylight industry's trends and prospects, found little to celebrate. Read more.
Existing-Home Sales Rise in May
Sales of existing homes showed another gain in May, benefiting from favorable affordability conditions and a first-time buyer tax credit, according to the National Association of Realtors®. May's increase was the first back-to-back monthly gain since September 2005.
Sales of existing homes showed another gain in May, benefiting from favorable affordability conditions and a first-time buyer tax credit, according to the National Association of Realtors®. May's increase was the first back-to-back monthly gain since September 2005.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 2.4 percent to a seasonally adjusted annual rate1 of 4.77 million units in May from a downwardly revised level of 4.66 million units in April, but remained 3.6 percent below the 4.95 million-unit pace in May 2008. Read more.
Harvard's 2009 State of the Nation's Housing Report Sees Challenges to Recovery, But Strong Future Demand
The worst housing downturn in generations continues to grind on, finds a study released today by the Joint Center for Housing Studies of Harvard University. Despite some stabilization in homebuilding and home sales in the spring, real home prices continued to fall and foreclosures mount in most areas in the first quarter of the 2009. With mortgage interest rates heading higher in June and the economy still contracting, a sustained recovery for housing still faces an uphill climb. “Although there are some signs of improvement or at least steadiness in new construction and sales,” says Nicolas P. Retsinas, Director of the Joint Center, “housing starts stand near 60+ year lows and any life in home sales is coming from distressed foreclosure sales, temporary first-time buyer tax credits, and low interest rates that moved higher in recent weeks.” Read more.
The worst housing downturn in generations continues to grind on, finds a study released today by the Joint Center for Housing Studies of Harvard University. Despite some stabilization in homebuilding and home sales in the spring, real home prices continued to fall and foreclosures mount in most areas in the first quarter of the 2009. With mortgage interest rates heading higher in June and the economy still contracting, a sustained recovery for housing still faces an uphill climb. “Although there are some signs of improvement or at least steadiness in new construction and sales,” says Nicolas P. Retsinas, Director of the Joint Center, “housing starts stand near 60+ year lows and any life in home sales is coming from distressed foreclosure sales, temporary first-time buyer tax credits, and low interest rates that moved higher in recent weeks.” Read more.
New Home Sales Fall in May
Sales of new one-family houses in May 2009 were at a seasonally adjusted annual rate of 342,000, 0.6 percent below the revised April rate of 344,000, according to estimates released by the U.S. Census Bureau. The performance is 32.8 percent below the May 2008 estimate of 509,000. Read more.
Sales of new one-family houses in May 2009 were at a seasonally adjusted annual rate of 342,000, 0.6 percent below the revised April rate of 344,000, according to estimates released by the U.S. Census Bureau. The performance is 32.8 percent below the May 2008 estimate of 509,000. Read more.
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