Real Estate Investors Cooling on Homes

Washington, DC, July 23, 2013 -- There are signs that investors are cooling on the distressed housing market, according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.

Current homeowners are providing much of the buying power currently driving the housing market, Campbell said, while investors are continuing to lose steam in the face of rapidly escalating home prices.

The new HousingPulse data shows that current homeowners were the only group that saw its share of home purchases rise last month – from 43.8% in May to 44.6% in June based a three-month moving average. First-time homebuyers witnessed a slight drop in marketshare, going from 36.0% to 35.7% during the same one-month period.

But the bigger story was the continuing slide in investor participation in the housing market. In June, the investor share of home purchase transactions fell to 19.7%, HousingPulse results show. That was down from a 23.1% share found as recently as February and the lowest level recorded since September of 2012.

Another factor in the slide in investor activity is the supply of distressed properties, which has been shrinking at a rapid rate. The HousingPulse Distressed Property Index shows that the percentage of home purchases involving foreclosures or short sales tumbled to 28.2% in June, a big drop from the 40.3% level recorded a year earlier. It also was the lowest distressed property share recorded in at least three and half years.

Thirty-one percent of sales were all cash, Campbell said. That share is usually below 10%.



Other Archived Articles

Growth in Services Sector Picks Up in March   Full Article
Tempe, AZ, April 3, 2014 -- Growth in the U.S. services sector accelerated in March, according to the Institute for Supply Management.

Jobless Claims Tick Higher Last Week   Full Article
Washington, DC, April 3, 2014 -- Initial claims for unemployment benefits edged higher unexpectly last week, according to the Labor Department.

Zillow To Help Chinese Invest in U.S. Real Estate   Full Article
New York, NY, April 3, 2014 -- Zillow said it would begin providing real-estate listings for Chinese real-estate portal Beijing Yisheng Leju Information Services.

Planned Job Cuts Plunge in March   Full Article
Chicago, IL, April 3, 2014 -- Planned job cuts fell to 34,399 in March, which was down 30% from a year ago and 18% from the previous month, according to outplacement firm Challenger, Gray & Christmas.

Finkell Forming New Hardwood Company   Full Article
Only, TN, April 3, 2014 -- Don Finkell, former head of hardwood maker Anderson, is getting back into business with a wood flooring startup called OEM Wood Floors.

Unilin's Winters Named NALFA Member of Year   Full Article
Dallas, TX, April 3, 2014 -- Unilin’s Jane Winters recently won the flooring industry’s "NALFA Member Of The Year” award.

J+J Flooring Names Metzger Director of Design   Full Article
Dalton, GA, April 3, 2014 -- J+J Flooring Group has named industry veteran Daniel Metzger as director of design.

Surya Names Curtin Vice President Sales   Full Article
Calhoun, GA, April 3, 2014 -- Rug company Surya said it has named Jim Curtin as vice president of sales, national accounts.

Factory Orders Rise More Than Expected   Full Article
Washington, DC, April 2, 2014 -- Factory orders rose 1.6 % in February, the U.S. Commerce Department said Wednesday

Jobs Growth Picks Up in March   Full Article
Roseland, NJ, April 2, 2014 -- Private firms grew their payrolls in March by the most in three months, according to the ADP Employment Report.

Mortgage Application Volume Declines   Full Article
Washington, DC, April 2, 2014 -- Mortgage application volume fell last week on lower refinancing demand, according to the Mortgage Bankers Association.

Analyst Lowering Mohawk Estimates Due to Weather   Full Article
New York, NY, April 2, 2014 -- Flooring industry analyst Stifel Nicolaus said it is lowering its first quarter estimates for Mohawk due to weather issues but is maintaining a "buy" rating on the stock.

Mohawk a Finalist for Atlanta Environmental Award   Full Article
Calhoun, GA, April 2, 2014 -- Mohawk said it is a finalist in the Metro Atlanta Chamber’s E3 environmental awards for Atlanta area businesses.

Haines Vice President of Operations Dies   Full Article
Glen Burnie, MD, April 1, 2014 -- Distributor Haines said its vice president of operations, Mark Blakely, died March 27 from health complications.

Manufacturing Keeps Expanding in March   Full Article
Washington, DC, April 1, 2014 -- U.S. manufacturing continued to expand in March at a higher pace than in February, according to the Institute for Supply Management.

Construction Spending Edges Up in February   Full Article
Washington, DC, April 1, 2014 -- Construction spending ticked up in February, according to the Commerce Department.

Perfect Timing for New Chocolate Flooring   Full Article
Vancouver, BC, April 1, 2014 -- For a limited time, BuildDirect is offering real chocolate plank flooring.

Del Conca Opens U.S. Manufacturing Facility   Full Article
Loudon, TN, April 1, 2014 -- Del Conca USA held a ribbon-cutting ceremony for its new manufacturing facility in Loudon.

Vinyl Institute Names Vice President of Marketing   Full Article
Alexandria, VA, April 1, 2014 -– The Vinyl Institute has named Susan Wade vice president of marketing and communications.

Tandus Centiva Offering Green Innovation Grant   Full Article
Dalton, GA, March 31, 2014 -- Tandus Centiva said it will award $3,000 in Green Innovation grant funds to a K-12 school.