New home sales unexpectedly drop

New home sales unexpectedly drop: "New home sales unexpectedly drop
WASHINGTON -- Feb. 28, 2005 -- January's new home sales fell 9.2 percent compared to December 2004 the U.S. Commerce Department reported this morning. The drop surprised economists who had predicted a slight increase and raised concerns about housing market changes following an expected increase in mortgage interest rates.

About 1.11 million new homes sold at a seasonally-adjusted annual rate in January, which was also 4.2 percent less than the number recorded one year earlier in January 2003.

A one-month drop in January may not herald a slowdown in new home sales, but economists have predicted a slowdown for a while and any negative news tends to increase speculation that the housing market has lost some strength. In 2004, home sales hit a record high, up about 9 percent, according to Briefing.com

The Midwest reported the steepest drop with a 40.3 percent slowdown, followed by the Northeast with a 17.1 percent decline. In the South, new home sales fell 3.3 percent, while sales rose 5.6 percent in the West.

The seasonally adjusted estimate of new houses for sale at the end of January was 438,000 -- a supply of 4.7 months at the current sales rate.

� 2005 FLORIDA ASSOCIATION OF REALTORS"

U.S. home prices look cheap to Europeans

U.S. home prices look cheap to Europeans: "This year, for the first time, the Miami-Fort Lauderdale-West Palm Beach region has cracked the Association of Foreign Investors in Real Estate's list of top five U.S. markets for foreign buyers, trailing only Washington, New York, Los Angeles and San Francisco.
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'Everything looks inexpensive' to Europeans right now'.
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Southern Florida is not alone. Although the phenomenon is difficult to quantify, 'what we've been hearing from our members is that the amount of European investment is skyrocketing,' said Jeff Hornberger, manager of international business development for the National Association of Realtors.

Fed suggests limits on mortgage portfolios

Federal Reserve Chairman Alan Greenspan said Thursday before the U.S. Congress that he did not believe the nation's housing is overpriced except possibly in a few unique areas. Greenspan also recommended more oversight of large mortgage companies such as Fannie Mae and Freddie Mac.

Fed suggests limits on mortgage portfolios

Rates on 30-year mortgages increase for the first time this year

Rates on 30-year mortgages increase for the first time this year: "Rates on 30-year mortgages increase for the first time this year (2005)"

Rates on 30-year mortgages fall for sixth straight week

Rates on 30-year mortgages fall for sixth straight week: "WASHINGTON -- Feb. 11, 2005 -- Rates on 30-year mortgages fell for a sixth consecutive week as lower-than-expected employment gains helped keep the lid on inflation worries."

Study: Most Florida real estate not overvalued

Study: Most Florida real estate not overvalued: "Study: Most Florida real estate not overvalued
CLEVELAND -- Feb. 10, 2005 -- Is Florida real estate overvalued? A study by National City Corp., one of the nation's largest financial institutions according to Hoovers, finds some slight evidence of overpricing in South Florida markets. However, in other areas such as Tampa and Daytona Beach, real estate appears undervalued."

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Freddie Mac's Weekly Primary Mortgage Market Survey

This week's Average 30 Yr Mortgage Rate Drops to 5.63%
Freddie Mac's Weekly Primary Mortgage Market Survey

Avg 30yr Mortgage Rate drops to 5.63%

2/3/05 Freddie Mac's Weekly Primary Mortgage Market Survey
Freddie Mac's Weekly Primary Mortgage Market Survey

New home sales top 1 million again in 2004

New home sales top 1 million again in 2004: "WASHINGTON -- Feb. 1, 2005 -- Sales of new single-family homes for 2004 topped one million and set a new annual sales record for the fourth consecutive year, according to U.S. Commerce Department figures released yesterday. "