New home sales tumbled in October while the median home price dropped to the lowest point in seven years. Sales of new single-family homes declined 8.1 percent to a seasonally adjusted annual rate of 283,000 units in October, the Commerce Department reported Wednesday. It was the fourth time the sales rate has dropped in the [...]
Continue reading …Construction of new homes fell in October, fresh evidence that the housing industry remains under duress. Construction of new homes and apartments sank 11.7 percent last month to a seasonally adjusted annual rate of 519,000 units, the Commerce Department said Wednesday. But that was mainly because apartment construction, which represents less than 20 percent of [...]
Continue reading …New-home sales prices have reached an historic low, based on records kept as far back as 1963 – and further declines are forecasted. The information comes from the Census Bureau’s American Housing Survey. The study, which examines the housing market strictly from the view of homeowners rather than from real estate or mortgage industry perspective, provided [...]
Continue reading …The Colorado Housing and Finance Authority has received $45.1 million in federal stimulus money to help finance the construction of 1,800 affordable rental units and create about 750 jobs. The money is part of the Tax Credit Assistance Program and Tax Credit Exchange Program, both established in the American Recovery and Reinvestment Act. CHFA will distribute the money in [...]
Continue reading …WASHINGTON (A.P.) – New U.S. home sales rose by the largest amount in more than eight years last month, in another sign the housing market is finally bouncing back from the worst downturn in decades. The Commerce Department said Monday that sales rose 11 percent in June to a seasonally adjusted annual rate of 384,000, [...]
Continue reading …The first 123 homes at the United States Air Force Academy have been renovated. They’re all part of a multi-phase, five-neighborhood privatization program that will affect five neighborhoods. The first phase includes 257 units. Forest City Military Communities and Hunt Building Company won the contract to build and manage the housing areas last year. Both [...]
Continue reading …Once again local home values profiled favorably when compared to Denver or to other states, at least based on results of the latest Standard & Poor’s/Case-Schiller Home Prices Index survey. Denver saw a 5.1 percent decline in home values from January 2008 to January 2009, but the single-digit result paled in comparison to the other [...]
Continue reading …In its fourth quarter recap of the Colorado Springs residential real estate market published this month, the Denver-based Genesis Group provided a forecast for the remainder of 2009. Acknowledging current “bleak conditions,” Genesis reporter Sue Selle said Colorado Springs is better positioned to improve once the national economy begins to recover. She also cited the [...]
Continue reading …CSBJ readers are probably aware that residential interest rates on thirty-year fixed rate conventional mortgages have dropped as low as 5 and 7/8 percent. Hard to believe, but thankfully true. Christine Meacham at Auer Mortgage says these low rates may be around for a few weeks. Some national financial analysts predict that the post-election climate [...]
Continue reading …Once again, there’s a lot of news to report. From the two large Bethesda office building and Pace Plaza retail center sales reported last week to this week’s leases and transactions, there’s never a dull moment on the Colorado Springs real estate scene. Bill May of Classic Mortgage said last week that commercial mortgage rates [...]
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