Americans Ready to Spend Money — Including on Housing

As a positive sign for the U.S. economy and housing conditions, Americans are reportedly more optimistic about buying a home, according to the PulteGroup Home Index survey. Overall attitudes toward buying a home is trending positive, and Margaret Gramann, senior vice president of sales for PulteGroup, Inc., commented, “For the first time in years, Americans …

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Fannie Mae: Housing is “on a sustained growth path”

While impending fiscal cuts at the federal level will likely put a damper on economic growth in the first half of this year, home-price growth and an increase in homebuilding suggest housing is “on a sustained growth path,” according to a monthly economic outlook released by Fannie Mae’s Economic & Strategic Research Group. The lowest …

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Shadow Inventory is Down

The number of homes lurking in the nation’s “shadow inventory” has dropped 18 percent over the past year and 28 percent over three years, reducing the threat to home prices that such distressed properties posed in the past. Irvine-based data firm CoreLogic reported that as of January, 2.2 million U.S. homes were in the shadow …

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November Pending Home Sales Index at 31-Month High

The Pending Home Sales Index (PHSI) increased for the third straight month in November, improving 1.7 percent to 106.4, the National Association of Realtors reported Friday. Economists had expected a slightly fast, 1.8 percent increase to 106.7. The index, the NAR said, is at its highest level since April 2010. The index for October was …

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