Housing shortage may cause home values to rise by 2011

"... now is an ideal time to buy, but those thinking of selling should wait for the housing shortage."

Calif housing market may be near bottom: JPMorgan

U.S. stock market report [.N] 1256 ET 26Feb2009-Calif housing market may be near bottom: JPMorgan

DJ CME Lumber Review: Ends Higher In Short Covering

The March contract settled up $3.00 per 1,000 board feet, or 2.05%, at $149.00, while May closed $2.10, or 1.33%, higher at $160.00. The July contract was up $5.70 at $171.90.

DJ CME Lumber Review: Short Covering, Stops Take Prices Higher

The March contract settled up $6.30 per 1,000 board feet, or 4.51%, at $146.00, while May closed $7.60, or 5.06%, higher at $157.90.

US GOVTS: Treasury To Move 'Quickly' On Housing Plan

The Department of Housing and Urban Development today allocated nearly 75% ($10.1 bln) of its funding provided by the stimulus plan approved by Congress earlier this month.

House to take up housing bill on Thursday

The U.S. House of Representatives is expected to vote on a bill on Thursday that would let bankruptcy judges rewrite home loans and shield mortgage servicers who modify loans from bondholder lawsuits.

Housing Prices in 20 U.S. Cities Fall a Record 18.5%

Home prices in 20 U.S. cities declined 18.5 percent in December from a year earlier, the fastest drop on record, as foreclosures climbed and sales sank.

Homebuilders welcome government relief efforts

Local homebuilders and affordable-housing advocates are finding ample things to like in the newly signed economic stimulus package and the Obama administration’s mortgage relief plans

DJ CME Lumber Review: Sets Three-Week Lows In Early Selling

The March contract settled down $4.60 per 1,000 board feet, or 3.05%, at $146.30, while May closed $3.30, or 2.02%, lower at $159.90. The July contract was off $1.30 at $174.80.

DJ CME Lumber Review: Ends Mostly Higher In Spread Trading

The March contract settled up $1.40 per 1,000 board feet at $150.90, while May closed $0.20 higher at $163.20. The July contract was up $1.60 at $176.10.

Housing starts plunge 17% to record low in January

Housing starts have dropped at double-digit rates for three straight months, falling at an 86% annual rate over that period.

DJ CME Lumber Review: Traders Ignore Housing Data, Obama Plan

Chicago Mercantile Exchange lumber futures traders Wednesday appeared to ignore the U.S. Commerce Department's January housing starts report, despite a steeper-than-expected decline.

Builders Launch Tax Credit Web Site

The National Association of Home Builders (NAHB) has launched a newly-designed web site that provides detailed information about the $8,000 tax credit for first-time home buyers

U.S. NAHB Builder Confidence Improves from Record Low

Confidence amongst home builders moved up slightly from an all-time low in February, according to a report issued by Wells Fargo and the National Association of Home Builders (NAHB) on Tuesday.

Why Now Is The Best Time To Build A Home

If the construction market was a store, these days it would be having the biggest blow out sale in a decade.

DJ CME Lumber Review: Sharply Lower On Outside Pressure

The March contract settled down $5.00, or 3.23%, at $150.00, while May closed $5.30, or 3.12%, lower at $164.50.

Supply and Demand: Housing Sales Increase in California and Florida

According to the Sacramento Association of Realtors, homes sales in 2008 (20,587) almost doubled compared to the previous year

DJ CME Lumber Review: Firm On Spreading, Short Covering

KANSAS CITY, Feb 13, 2009 (Dow Jones Commodities News via Comtex) -- Chicago Mercantile Exchange lumber futures Friday closed higher in the front months and flat to firm in the deferred contracts.

Experts: Now's the time to buy a home

Tax incentives and the raging buyer’s market have made this the perfect time to buy a new house

Homeowners no longer denying lost equity

Survey: 70% see better outlook for home values in '09

Builder Confidence In Multifamily Market Remains Low

The deepening recession and ongoing credit crunch continue to drag down builder confidence in the multifamily housing market, according to the latest results of the Multifamily Rental Market Index (MRMI) and Multifamily Condo Market Index (MCMI), released today by the National Association of Home Builders (NAHB).

‘Give And Take’ Continues as Stimulus Bill Takes Shape

Senate Majority Leader Harry Reid announced a deal on economic stimulus legislation Wednesday,

Reed Construction Data index is falling from peak in December

Lumber prices, metals prices, energy prices, and prices of other construction materials are forecast to fall further

DJ CME Lumber Review: Down, Extend Losses To 1 1/2-Week Lows

March closed down $4.20 per 1,000 board feet at $153.50. It lost 2.7% on the day. May was down $6.40, or 3.7%, and closed at $167.00. The summer and fall contracts were lower as well. From the latest cycle highs hit a week ago, March has fallen $20.20 and May is off $20.50.

Positive Signs Emerge in Housing Market

Several reports of late indicate that we may be nearing the bottom of the housing downturn.

DJ CME Lumber Review: Ends Mostly Lower In Spreads, Liquidation

The March contract settled down $6.20 per 1,000 board feet, or 3.71%, at $160.80, while May closed $3, or 1.7%, lower at $173.30. The July contract was up $0.20 at $187.40.

Home builders optimistic for '09

Despite a sluggish economy, local building contractors say this is a great time to build your dream home or remodel the one you own because materials, labor and lumber costs are low.

Stimulus plan's tax breaks could boost housing market

Part of the plan would grant a $15,000 tax break for new homebuyers.

DJ CME Lumber Review: Ends Mixed Amid Position Rolling

The March contract settled up $1.70, or 1.03%, at $167.00, while May closed $2.70, or 1.51%, lower at $176.30. The July contract was off $0.60 at $187.20.

Housing market ripe for investment: Here’s what you need to know

Huge inventory, low interest rates and highly motivated sellers all combine to make this an ideal time to pick up a house or two — or even three.

Housing crisis needs fixing now

Someone is addressing the housing crisis. Remember that? It’s what brought us here. It’s what continues to make ugly out of our banks’ balance sheets.

Confidence 'returning to market'

Consumer confidence is returning to the housing market with two-thirds of people thinking now is a good time to buy a new home, a survey has found. Around 66% of people said they thought it was currently a good time to buy a property, but just 2.1% said it was a good time to sell one, according to property website Rightmove.

Housing industry welcomes homebuyer tax credit

The new credit, approved by the Senate Wednesday night, works like this: Buyers would get 10 percent of the purchase price of any home, up to $15,000, applied to their tax bill.

DJ CME Lumber Review: Sharply Lower Amid Long Liquidation

The March contract settled down $8.40, or 4.84%, at $165.30, while May closed $8.50, or 4.53%, lower at $179.00. The July contract was off $9.80, or 4.96%, to $187.80.

Weyerhaeuser closes Alabama mills, cuts 300 jobs

Timber, pulp and wood products company Weyerhaeuser Co. said Thursday it is closing its veneer and lumber mills in Pine Hill, Ala. indefinitely, affecting 300 workers.

DJ CME Lumber Review: Short Covering Pushes Prices Higher

The March contract ended up $5.60, or 3.54%, at $163.70, while May is $2.00, or 1.14%, higher at $177.50. The July contract rose $0.70 to $188.70.

Lumber Caps Biggest Three-Day Rally Since 1986 on Output Cuts

In three sessions, futures jumped 19 percent, the most since at least April 1986.