Home Builders Get Jitters for First Time in a Year

Sat, 23 Feb 2013 12:43:06 +0000

Of the three components making up the index, current sales conditions fell one point to 51, still the only component solidly in the positive. Sales expectations over the next six months rose one point to 50, but buyer traffic remained the weakest, falling four points to 32.

(Read More: Foreclosures Fall Due to New Laws)

Regionally the Northeast saw improvements in builder sentiment, as did the West, but the Midwest and South both slipped, down two points each. The Northeast is seeing gains in construction due to the rebuilding effort following Superstorm Sandy. That was apparent in another index released Monday gauging home remodeling. The Buildfax remodeling index showed seasonally adjusted annual rates of remodeling in the Northeast at 636,000 in December of 2012 — up 39 percent from November and up 37 percent from a year ago.

“The last time the Northeast broke 600,000 estimated residential remodels was five years ago,” wrote BuildFax’s Joe Emison in a release. “Unfortunately, the rest of the country saw both month-over-month and year-over-year declines in residential remodeling activity.”

Article source: http://www.cnbc.com/id/100469988

Will Price Gap Between Sacramento and San Francisco Bring Home Buyers East?

Sun, 06 Nov 2011 11:12:12 +0000

Twenty-nine cents on the dollar. That’s what homebuyers now pay for a typical house in the Sacramento region compared to buyers in San Francisco. And if history is any guide, that mounting price gap could have a big impact on Sacramento’s housing market and economy in the not-too-distant future.

The last time the spread between Bay Area median prices and Sacramento median prices grew so big was a decade ago, just before tens of thousands of Bay Area transplants arrived in Sacramento, turning a healthy housing market into a bona fide boom.

Since then, that wave of transplants has slowed to a drip, with barely more residents relocating from the Bay Area to Sacramento than heading in the other direction.

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Article source: http://www.gayapolis.com/news/artdisplay-realestate.php?artid=11946

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Home Builders Get Jitters for First Time in a Year

Will Price Gap Between Sacramento and San Francisco Bring Home Buyers East?