Tag Archives: home ownership statistics

Home ownership may be a distant American dream

Takeaway: Affordability with low mortgage rates is not increasing monthly home sales. The American dream lives on with 72% of respondents from a survey by the National Association of Realtors (NAR) saying they would like to own versus rent. In our opinion, single-family homes are desirable for families that want a good school system, safe […]

Economic Update: New Home Sales Rise 7.3%

Sales of new single-family homes rose 7.3% in April, to an annual rate of 323,000. The rate is higher than the 303,000 expected by the consensus, but is down 23.1% from last April, when sales were boosted by the homebuyer tax rebate. The median sales prise rose 4.6% from a year earlier, to $217,900, the […]

The chicken or the egg? Isn’t housing supposed to lead the recovery?

In most recent economic recoveries, residential construction has led the general economic recovery.  Home purchases are very sensitive to interest rates, which tend to be their lowest at the end of a recession. Consequently, interest sensitive purchases, such as homes and automobiles, are the first to rebound at the start of a recovery. This time […]

Does anyone want to buy a house any more?

The Mortgage Bankers Association reported that mortgage applications fell 5.6% last week while the US Census Bureau reports that home ownership slipped again in the first quarter of the year to 66.4% compared to peak of 69.2% in the 2004 fourth quarter. Is it possible that the housing bust has convinced some people that owning […]

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