Pockets of strength push US housing market rebound

(Reuters) - The tide is turning in some parts of the long suffering U.S. housing market, with several regions, such as hard hit California, showing signs of life.

DJ CME Lumber Review: May Ends Limit-Up After Economic Reports

The May contract settled $10.00 per 1,000 board feet, or 5.98%, higher at $177.30, while July ended $8.00, or 4.53%, higher at $184.50. The September contract was up $8.50, or 4.51%, at $196.90.

Housing tax credits clear Georgia Senate

Under the legislation, which originated in the House, home purchasers would receive income-tax credits of up to $3,600, or $1,200 for each of three years. To qualify, homeowners would have to apply for the credit within six months of the date the governor signs the measure.

New-Home Sales in U.S. Rose 4.7% to a 337,000 Pace

Sales increased 4.7 percent to an annual pace of 337,000 after a 322,000 rate in January

Existing-home sales rose 5 percent in Feb.

Biggest jump in more than five years

DJ CME Lumber Review: Light Trading Leaves Prices Mixed

The May contract settled down $1.90 per 1,000 board feet, or 1.13%, at $165.60, while July ended $1.10 lower at $175.40. The September contract was off $0.30 at $186.50.

Could the Housing Market Be at a Bottom?

The adjustment down for home sales has been nothing short of unbelievable but has it been enough? Just maybe.

DJ CME Lumber Review: Prices End Mostly Higher After Quiet Day

The May contract settled up $1.10 per 1,000 board feet at $160.90, while July ended $0.80 higher at $171.40. The September contract was off $0.30 at $182.10.

CME Lumber Review: March Expires $4 Lower In Weak Cash

The March contract settled down $4, or 2.78%, at $140, while May ended 90 cents lower at $159.10. The July contract was off $0.60 at $169.30.

CME lumber uneven ahead of March expiration

Demand for lumber continued to languish, and most prices finished flat to down,' Random Lengths said. 'Despite extensive curtailments across the U.S. and Canada, many traders observed that production continued to outweigh demand.

Georgia House passes housing tax credit

Georgians who buy a single-family home would get a three-year tax credit under legislation that sailed through the House on Thursday. Lawmakers voted 162-4 to allow home purchasers to receive income-tax credits of up to $3,600, up to $1,200 for each of three years. To qualify, homeowners would have to apply for the credit within six months of the date the governor signs the bill.

Low Mortgage Rates Could Spur Housing Rebound

The average 30-year fixed mortgage cost 5.03%, down from 5.15% a week ago and 6.13% a year ago.

Housing Market Showing Some Positives

There's finally a glimmer of hope in the Las Vegas real estate market. Home sales were up sharply last month.

CME lumber turn mostly lower on slow cash trade

At 10:15 a.m. CDT (1515 GMT) March lumber 2LBH9 was off 60 cents at $146.00 per tbf with May 2LBK9 off 90 cents at $161.60 per tbf.

CME lumber up on further mill curtailments

Mills continue to announce expanded curtailments, including Weyerhaeuser which announced additional cutbacks at some of its Oregon and Washington state mills.

Recession Deepens in Nonresidential Building Market

Nonresidential building jobsite spending declined 6% in the last three months after a long expansion. The decline is 10% for commercial buildings and 3% for institutional buildings.

Big home builders buying lots, getting ready to build

After a housing collapse that has virtually halted new home construction, national builders are looking for and buying lots at fire-sale prices, a signal that they are out of new home inventory and plan to start building again.

New Tax Credit Entices Home Buyers

Boise, Idaho -- More and more people are buying homes and a recent change by the federal government is the reason, making home buying more attractive to people who may otherwise wait out the current economic crisis.

DJ CME Lumber Review: Inches Higher In Quiet Trade

The March contract settled up $0.40 per 1,000 board feet at $146.00, while May ended $1.90, or 1.2%, higher at $159.90.

CME lumber futures higher early on short covering

Chicago Mercantile Exchange lumber futures moved higher early on Tuesday amid short covering which was partly prompted by the rally in the stock market, traders said.

CME lumber futures higher early on firm cash

At 10:10 a.m. CST (1610 GMT) on Friday, March lumber 2LBH9 was up $1.10 at $151.10 per tbf and May 2LBK9 up $2.30 at $162.30.

DJ CME Lumber Review: Late Short Covering Brings Mixed Close

The March contract settled up $2.50 per 1,000 board feet, or 1.7%, at $149.50, while May closed $0.30 higher at $158.20.

New homes shrink to fit budgets

Builders find smaller floor plans, less pricey options in demand as buyers become more value-conscious.

Stimulus offers hope for home sales slump - First-time buyers offered $8,000 tax credit

The home must be a primary residence purchased between Jan. 1 and Dec. 1, 2009, and the adjusted gross income must not exceed $75,000 for single taxpayers or $150,000 for married couples. Someone who has not purchased a primary residence in the three years prior to the purchase of the new home in 2009 is eligible for the credit.

DJ CME Lumber Review: Ends Lower In Light Long Liquidation

The March contract settled down $2.00 per 1,000 board feet, or 1.34%, at $147.00, while May closed $2.10, or 1.31%, lower at $157.90.