By Inman News, Thursday, July 29, 2004. Home ownership in the United States rose to a record-high rate of 69.2 percent in the second quarter, with 73.4 million Americans calling themselves homeowners, according to a Census Bureau report released today. The second-quarter home-ownership rate rose from 68 percent in the second quarter of 2003, and increased from 68.6 percent in the first quarter of 2004. When adjusted for seasonality, the current home-ownership rate at 69.3 percent was higher than 68.1 percent shown a year ago and also higher than the rate last quarter, 68.7 percent. more...
By Inman News, Thursday, July 29, 2004. The Conference Board's Help-Wanted Advertising Index – a key barometer of America's job market – dipped one point in June to 38. The index was 38 one year ago. more...
By Inman News, Thursday, July 29, 2004. Long-term mortgage interest rates moved higher for the first time in five weeks, fueled by a rise in consumer confidence, according to surveys conducted by mortgage buyer Freddie Mac and Bankrate. In Freddie Mac's weekly survey, the 30-year fixed-rate mortgage averaged 6.08 percent for the week ended today, up from last week when it averaged 5.98 percent. The average for the 15-year fixed-rate mortgage this week is 5.49 percent, up from last week when it averaged 5.39 percent. Points on both the 30- and 15-year averaged 0.6. more...
By Samantha Peterson, Thursday, July 29, 2004. SAN FRANCISCO–The sun is setting in the West. But it's rising in the East. That was the view of the future Richard Mendenhall, principal of WMWorks, shared Wednesday afternoon with attendees at Inman News' Real Estate Connect 2004. Mendenhall, part of a session on "A look at the future: What's coming, why and when," said most Americans have outdated or limited views of countries such as China, India and Malaysia. more...
By Glenn Roberts Jr., Thursday, July 29, 2004. Editor's note: This two-part story includes highlights from an Inman News Special Report, "Controlling the real estate transaction: Who's in charge?" The full 40-page report is available free to Inman News members. more...
By Inman News, Thursday, July 29, 2004. LandAmerica Financial Group today reported its second-quarter 2004 net income sank slightly to $61.5 million from $62 million a year ago. Net income per diluted share was down slightly at $3.32, compared to $3.33 in the second quarter of 2003. Revenues for the second quarter totaled $903.8 million, up 8.3 percent from $834.3 million a year ago. more...
By Inman News, Thursday, July 29, 2004. Sales of existing single-family homes in New York increased in June by more than 27 percent compared to the previous month, according to preliminary single-family sales data accumulated by the New York State Association of Realtors. The sales total showed growth of more than 17 percent compared to a year ago, setting a new sales record for the month of June. The preliminary data also showed a median selling price increase of more than 34 percent compared to the same period a year earlier. more...
By Inman News, Thursday, July 29, 2004. Online consumer-direct lender E-Loan's net income plummeted from approximately $8.1 million in the second quarter of 2003 to $270,000 in the second quarter of 2004, the company announced today. Net income per share for the second quarter of 2004 was zero compared with $0.13 per share for the second quarter of 2003. Second-quarter revenue fell to $34.7 million from $46.1 million the same period a year ago, but was 8 percent above the $32 million reported in the first quarter of 2004. In comparison to the first quarte more...
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