Single-Family Starts virtually unchanged in March - NAHB (Washington DC)

Combined Starts Lower on Typical Volatility in Multifamily - Single-family housing production held virtually unchanged in March as a double-digit decline in the more volatile multifamily sector brought combined nationwide starts activity down 5.8 percent to a seasonally adjusted annual rate of 654,000 units, according to data released by the U.S. Commerce Department today.

“While more consumers appear to be seriously considering a new-home purchase, builders remain very cautious about starting new projects until they see more actual sales materializing,” said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. “At the same time, in places where buyers are ready to go forward with a purchase, access to credit for both builders and buyers and difficulties in obtaining accurate appraisals are persistent challenges that continue to slow that process considerably.”

Existing-Home Sales decline in March but inventory down, prices stabilizing - NAR (Washington DC)

Existing-home sales were down in March but continue to outpace year-ago levels, while inventory tightened and home prices are showing further signs of stabilizing, according to the National Association of Realtors®.

Total existing-home sales¹, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 2.6 percent to a seasonally adjusted annual rate of 4.48 million in March from an upwardly revised 4.60 million in February, but are 5.2 percent above the 4.26 million-unit pace in March 2011.

NAHB, Chinese manufactures sign major exhbition agreement - NAHB (Washington DC)

The National Association of Home Builders (NAHB) has signed a memorandum of understanding with a major Chinese trade association that will bring a large number of additional manufacturers and product options to the annual NAHB International Builders’ Show in Las Vegas in January 2013. The agreement underscores the International Builders’ Show’s role as the preeminent light construction trade show in the Americas.

A formal signing ceremony was held April 19 in Foshan, China, between officials from the China Building Ceramics & Sanitaryware Association and NAHB’s Immediate Past Chairman Bob Nielsen, a home builder and developer in Reno, Nev., and Mark Pursell, NAHB Senior Vice President for Exhibitions, Marketing and Sales.

Refinance Applications Up, Purchase Applications Down in Latest MBA Weekly Survey - ABA (Washington DC)

Mortgage applications increased 6.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 13, 2012.

The Market Composite Index, a measure of mortgage loan application volume, increased 6.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 6.5 percent compared with the previous week. The Refinance Index increased 13.5 percent from the previous week. The seasonally adjusted Purchase Index decreased 11.2 percent from one week earlier. The unadjusted Purchase Index decreased 10.4 percent compared with the previous week and was 13.9 percent lower than the same week one year ago.