LOS ANGELES — Sales of U.S. homes facing foreclosure are on the rise and outpacing sales of bank-owned homes, a reflection of stepped-up efforts this year by lenders to avoid foreclosing on homes with mortgages gone unpaid. In the third quarter, sales of homes already in the foreclosure process jumped 22 percent compared with the [...]
WASHINGTON — U.S. builders increased their spending on construction projects in October by the largest amount in five months, led by a surge in housing. The Commerce Department said Monday that construction spending rose 1.4 percent in October. It was the largest gain since a 1.7 percent increase in May. The uptick increased construction spending to a seasonally [...]
The housing market has been making consistent gains this year, helping prop up an economy that is being squeezed by a global slowdown and looming spending cuts and tax increases.
LOS ANGELES – U.S. homes are entering the foreclosure process at a slower pace than a year ago, and fewer properties are being repossessed by lenders, new data show. Between January and October, 971,533 homes were placed on the path to foreclosure, down 8 percent from the same period last year, foreclosure listing firm RealtyTrac Inc. [...]
HENDERSON, Nev. — This suburb in a battleground state is pockmarked with half-built subdivisions, foreclosed homes and voters like Leslie Levin. Levin, who retired from his job as a real estate attorney at age 49, is not the sort to pine for big government programs. But he is steadily losing the rental properties he owns [...]
Confidence among U.S. homebuilders remains at its highest level in six years, reflecting improved optimism over the strengthening housing market this year and a pickup in visits by prospective buyers to builders’ communities.
WASHINGTON — U.S. builders started construction on homes in September at the fastest rate since July 2008 and made plans to build even more homes in the coming months. The gains show the housing recovery is strengthening and could help the economy grow. The Commerce Department said Wednesday that home construction rose 15 percent last [...]
WASHINGTON – The Federal Reserve wants to find a clearer way to signal to the public when it might start raising interest rates. The Fed has told investors that it plans to keep short-term rates low for at least another three years. But it appears to be leaning toward setting a more specific target, according to [...]
WASHINGTON — Average U.S. rates on fixed mortgages fell again to new record lows Thursday. The decline suggests the Federal Reserve’s stimulus efforts may be having an impact on mortgage rates. Mortgage buyer Freddie Mac said the rate on the 30-year loan dropped to 3.40 percent. That’s down from last week’s rate of 3.49 percent, [...]
“[Arborteum has] been such a stable property. When (a tenant) goes out, they have three or four people waiting it get in. They’ve not had many vacancies at all,” said Andy Misiaveg, a partner in The Shopping Center Group.