Monthly Archives December 2013

Mortgaging Down Nationally

The Mortgage  Bankers Association’s Weekly Applications Survey covers more than 75 percent of  all U.S. residential mortgage applications and is a measure of both refinancing  and home purchase demand.

According to the most recent release, total mortgage  loan application volume fell by 5.5 percent last week from one week earlier.  Both the Refinance Index and the Purchase Index fell 6 percent from the previous  week. Mike Fratantoni, MBA’s vice president of research and economics, said the  market index fell to its lowest level in more than a dozen years. According to  Fratantoni, purchase and refinance demand dropped due to increasing interest  rates...

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Taos, NM Real Estate New Construction Will Rebound with the Rest of the Country

According to  the U.S. Census Bureau and the Department of Housing and Urban Development, new  residential construction spiked 22.7 percent in November and is now nearly 30  percent above last year’s level.
The increase was the largest since January 1990  and brought housing starts to a seasonally adjusted annual rate of 1,091,000.  Despite the improvement, new home construction remains below historical average.  From 1959 through 2000, housing starts averaged 1.5 million per year.
Still,  with single-family housing starts up 20.8 percent month-over-month and  demographics and household formation suggesting more growth, new home  construction should continue to improve. The gains were better than economists  expected and indicate a strengthening economy.
And a strong economy is w...
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Taos, NM Real Estate on Track to Boom in 2014

December 5, 2013 – Markets in 54 out of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity, according to the National Association of Home Builders/First American Leading Markets Index (LMI), released today. The index’s nationwide score of .86 indicates that, based on current permits, prices and employment data, the nationwide market is running at 86 percent of normal economic and housing activity.

The LMI figures for November showed that 55 housing markets were operating at or above their last normal levels and the nationwide market was operating at 85 percent of normal growth...

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Are Smaller Communities the Way to Go in Buying a Home?

Does a smaller community mean better and more stable housing market? We Taosenos believe there are significant market factors here which offer better pricing on existing homes and a better quality of life for residents. Consider Taos for your perfect get-away home, your retirement condo, or starter home casita.

The Census Bureau’s American Community Survey collects a  wide range of important statistics about communities across the country. A  recent housing brief released by the Bureau – which used the survey to focus on  homeownership rates and home values across the country – found that small  counties fared better following the recession as compared to larger counties...
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