DJ CME Lumber Review: Short Covering Takes Prices Limit Up

The March contract ended up $10.00, or 7.24%, at $148.10, while May closed $10.00, or 6.42%, higher at $165.70. The July contract was $10.00, or 5.89%, higher at $179.80.

Lumber Price May Exit the Woodshed on Output Drop: Chart of Day

Jan. 29 (Bloomberg) -- A collapse in U.S. wood-product output is setting the stage for a rebound in lumber prices that are the lowest in at least 22 years on the Chicago Mercantile Exchange

Lumber Price May Exit the Woodshed on Output Drop: Chart of Day

Jan. 29 (Bloomberg) -- A collapse in U.S. wood-product output is setting the stage for a rebound in lumber prices that are the lowest in at least 22 years on the Chicago Mercantile Exchange

Home sales show surprising strength in Dec.

WASHINGTON - Sales of existing homes posted an unexpected increase last month, as sales of bargain-basement foreclosures in California and Florida boomed, closing out the worst year for the U.S. real estate market in more than a decade.

And now for some good news: The mother of all housing corrections appears to be nearing an end.

Nationwide, prices of new and existing homes are now only about 7% away from being as affordable as they were during the 1980s -- when the housing market was booming. At that time, median home prices equaled 2.9 times median household incomes.

DJ CME Lumber Review: Most Modestly Higher On Short Covering

Chicago Mercantile Exchange lumber futures Thursday shook off a bearishly-construed housing starts report released before the session began, and most contracts closed slightly higher on short covering.

New home construction falls to a record low

New-home construction plunged to an all-time low in December, capping the worst year for builders on records dating back to 1959.

California sales soar as prices plunge

December's sales of new and existing homes and condos in Southern California and the San Francisco Bay Area gained an average of 43 percent from a year ago, real estate research company DataQuick reported this week.

Isakson: Fixing housing crisis key to economic recovery

U.S. Senator Johnny Isakson, R-Ga., spoke on the Senate floor last week and argued that Congress must take steps to jump-start housing demand in order to boost the slumping economy.

DJ CME Lumber Review: Short Covering Takes Prices Higher

Chicago Mercantile Exchange lumber futures Friday ended mostly higher in a lightly traded short-covering rally before the three-day weekend.

DJ CME Lumber Review: January Expires With Strong Support

The January contract expired with a gain of $3.10 per 1,000 board feet, or 2.23%, at $142.10, while March ended up $1.50 at $167.20.

Freddie Mac: 30-year mortgage rate falls for 11th week

Thursday the average 30-year fixed-rate mortgage fell for the 11th week in a row to 4.96%, with an average 0.7 point for the week ending Jan. 15

Obama to Use Up to $100 Billion of TARP on Housing

President-elect Barack Obama will use up to $100 billion in financial-rescue funds to ease the mortgage-foreclosure crisis and will limit the money to the finance and housing industries

Kenneth Rosen: Housing Will Bottom Out This Year

U. S. News & World Report - January 13, 2009 05:41 PM ET - Kenneth Rosen, chairman of the Fisher Center for Real Estate and Urban Economics at the University of California-Berkeley...

Shift to original TARP could ease housing crisis

The Treasury is being urged to soak up billions of dollars of soured mortgage investments in a move that would return the $700 billion financial rescue fund to its original purpose.

DJ CME Lumber Review: Mostly Higher In Short Covering

The nearby January contract settled up $0.90 per 1,000 board feet at $162.10, while March ended up $4.00, or 2.26%, at $181.00. May closed $1.50 higher at $195.50.

House Bill Aims to Stabilize Housing, Addresses Foreclosure and Stimulus

PRNewswire/ -- A bill that embraces the need for righting the housing market --- the first big step toward economic recovery --- was introduced Friday in the U.S. House of Representatives.

Report: Housing Markets Will Roar Back in 2009

FAIR OAKS, CA - The nation’s foreclosure hemorrhage has finally slowed and 2009 should see a significant decline in foreclosures as buyers return, pushing home prices up and fueling a real estate recovery, according to the 2009 Outlook from ForeclosureS.com.

Report: Housing Markets Will Roar Back in 2009

FAIR OAKS, CA - The nation’s foreclosure hemorrhage has finally slowed and 2009 should see a significant decline in foreclosures as buyers return, pushing home prices up and fueling a real estate recovery, according to the 2009 Outlook from ForeclosureS.com.

U.S. Banks Offer Mortgage Rates Below 5% as Fed Buys Securities

The largest U.S. banks are starting to offer fixed home loans below 5 percent...

US Senate Budget chair wants housing aid in stimulus

Senate Budget Chairman Kent Conrad on Wednesday urged short-term measures to address the crumbling housing market be included in the massive stimulus package...

It's a first-time homebuyer's market

Federal help and willing sellers speed the process

Home-Mortgage Rates' Next Stop: Below 5%

Fed's Buying Plan Helps the Market; Latest Survey Puts the Average on 30-Year Loan at 5.10%

DJ CME Lumber Review: Prices Drift Lower In Lack Of Direction

The nearby January contract settled down $0.40 per 1,000 board feet at $169.00, while March ended down $0.80 at $187.00. May closed $2.00 lower at $200.30.

Developer says there's never been a better time to buy

...claims there has never been a better time to buy, offering a wealth of incentives to suit all budgets and housing needs....

U.S. Mortgage Rates Fall to Lowest in Three Decades

The average rate on a 30-year fixed mortgage tumbled for a ninth straight week, to 5.10 percent from 5.14 percent a week earlier