Housing Outlook Brightens

Market Turnaround Expected

Home starts and sales are on an upword path according to Chief Economist David Crowe of the National Association of Builders (NAHB).

“No one is anticipating that an upward path for housing will run in a straight-line trajectory,” said Crowe. “The economy is in an uneven recovery and we can expect some corresponding ups-and-downs in the housing market in the months ahead. However, NAHB believes that on the whole, we can expect a slow and gradual recovery in housing starts, home sales and the overall housing market in 2012.”

According to the NAHB, new-home sales are expected to climb from a record-low of 305,000 units in 2011 to 357,000 this year and 505,000 in 2013. Existing single-family sales are expected to follow suit and rise from 3.8 million last year to 4.4 million in 2012 and 5.4 million next year.

Housing starts are also anticipated to move in the same upward trajectory, Crowe said, with single-family housing production increasing from 434,000 units last year to 503,000 this year and a more solid 660,000 in 2013.

On the multifamily side, starts posted a healthy 55 percent increase in 2011 over 2010.

“A lot of newly formed households have become renters, so we need more rental units,” Crowe said. “We don’t expect to see the same rate of increase moving forward, but we should continue to see a healthy recovery.”

NAHB is anticipating that multifamily starts will rise from 177,000 units last year to 216,000 in 2012 and 235,000 in 2013. With many households choosing to stay in place and remodel their homes rather than move, residential remodeling is expected to rise 12 percent this year and another 7.9 percent in 2013.

Are you a renter considering a new home purchase to avoid rising rent? Contact an Inlanta Mortgage  loan professional to get pre-approved today! Or maybe you are interested in taking advantage of low mortgage interest rates to purchase a different home? Whatever you financing needs, Inlanta Mortgage professionals are here for you. Click here to located a licensed mortgage loan progessional near you.

Inlanta Mortgage operates more than 30 branches in 15 states and offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016.

 

 

 

Housing Outlook Brightens

Market Turnaround Expected

Home starts and sales are on an upword path according to Chief Economist David Crowe of the National Association of Builders (NAHB).

“No one is anticipating that an upward path for housing will run in a straight-line trajectory,” said Crowe. “The economy is in an uneven recovery and we can expect some corresponding ups-and-downs in the housing market in the months ahead. However, NAHB believes that on the whole, we can expect a slow and gradual recovery in housing starts, home sales and the overall housing market in 2012.”

According to the NAHB, new-home sales are expected to climb from a record-low of 305,000 units in 2011 to 357,000 this year and 505,000 in 2013. Existing single-family sales are expected to follow suit and rise from 3.8 million last year to 4.4 million in 2012 and 5.4 million next year.

Housing starts are also anticipated to move in the same upward trajectory, Crowe said, with single-family housing production increasing from 434,000 units last year to 503,000 this year and a more solid 660,000 in 2013.

On the multifamily side, starts posted a healthy 55 percent increase in 2011 over 2010.

“A lot of newly formed households have become renters, so we need more rental units,” Crowe said. “We don’t expect to see the same rate of increase moving forward, but we should continue to see a healthy recovery.”

NAHB is anticipating that multifamily starts will rise from 177,000 units last year to 216,000 in 2012 and 235,000 in 2013. With many households choosing to stay in place and remodel their homes rather than move, residential remodeling is expected to rise 12 percent this year and another 7.9 percent in 2013.

Are you a renter considering a new home purchase to avoid rising rent? Contact an Inlanta Mortgage  loan professional to get pre-approved today! Or maybe you are interested in taking advantage of low mortgage interest rates to purchase a different home? Whatever you financing needs, Inlanta Mortgage professionals are here for you. Click here to located a licensed mortgage loan progessional near you.

Inlanta Mortgage operates more than 30 branches in 15 states and offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016.

 

 

 

Housing Outlook Brightens

Market Turnaround Expected

Home starts and sales are on an upword path according to Chief Economist David Crowe of the National Association of Builders (NAHB).

“No one is anticipating that an upward path for housing will run in a straight-line trajectory,” said Crowe. “The economy is in an uneven recovery and we can expect some corresponding ups-and-downs in the housing market in the months ahead. However, NAHB believes that on the whole, we can expect a slow and gradual recovery in housing starts, home sales and the overall housing market in 2012.”

According to the NAHB, new-home sales are expected to climb from a record-low of 305,000 units in 2011 to 357,000 this year and 505,000 in 2013. Existing single-family sales are expected to follow suit and rise from 3.8 million last year to 4.4 million in 2012 and 5.4 million next year.

Housing starts are also anticipated to move in the same upward trajectory, Crowe said, with single-family housing production increasing from 434,000 units last year to 503,000 this year and a more solid 660,000 in 2013.

On the multifamily side, starts posted a healthy 55 percent increase in 2011 over 2010.

“A lot of newly formed households have become renters, so we need more rental units,” Crowe said. “We don’t expect to see the same rate of increase moving forward, but we should continue to see a healthy recovery.”

NAHB is anticipating that multifamily starts will rise from 177,000 units last year to 216,000 in 2012 and 235,000 in 2013. With many households choosing to stay in place and remodel their homes rather than move, residential remodeling is expected to rise 12 percent this year and another 7.9 percent in 2013.

Are you a renter considering a new home purchase to avoid rising rent? Contact an Inlanta Mortgage  loan professional to get pre-approved today! Or maybe you are interested in taking advantage of low mortgage interest rates to purchase a different home? Whatever you financing needs, Inlanta Mortgage professionals are here for you. Click here to located a licensed mortgage loan progessional near you.

Inlanta Mortgage operates more than 30 branches in 15 states and offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016.

 

 

 

Housing Expectations 2012

Housing Expectations 2012

Mortgage Rates Expected to Rise
The Mortgage Bankers Association’s latest forecast indicates that the rate on the 30-year fixed rate mortgage will average about 4.3% in the second quarter of 2012.  Although those mortgage rates are still quite low –  especially when you compare it to the 6% or 7% borrowers paid at the height of the housing boom –  that’s still a bump up from the 3.88% 30-year fixed rate mortgage average reported in Freddie Mac’s Weekly Primary Mortgage Market Survey on April 12, 2012.

Homebuyers Face Off with Investors
Favorable mortgage rates, low home prices and rising rent costs have made the current housing market the perfect opportunity for investors. This means, when looking for bargains, homebuyers will face off with investors.

“This is true particularly at the lower end of the market and with first-time homebuyers” said Jed Smith, managing director of quantitative research for the National Association of Realtors. “One of the strongest recent housing trends: Many investors pay cash. These cash offers are an obstacle for buyers who need mortgages because sellers prefer buyers who can pay cash to close quickly,” Smith said.

Investors bought about 23% of the homes sold in January, according to the NAR’s latest numbers. That’s up from 21% in December, and that trend is not expected to shift this spring.

More Homebuyers Expected to Jump in the Game
Industry experts expect more homebuyers may soon get off the sidelines. According to Fannie Mae’s March 2012 consumer attitudinal National Housing Survey, several key housing market indicators point to increasing numbers of home purchases. Read more about rising rent prices and Fannie Mae’s survey here.

Whether you are ready to make the leap to home ownership or not, it is never too early to begin learning about the process. Explore our other blog posts on the Home Buying Process here. Learn why home ownership matters, why you need to get pre-approved for a mortgage before shopping and more.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016.