new home builders colorado

new home builders colorado
In the last month, in which the existing sales fell again, and it is reported that a large number of builders are facing the worst ever quarterly deserve. This home builders believe that the main reason for this chaos in the Flat stresses is the continuous sub-prime mortgage crisis.

The National Association of Realtors said that during the month of August it was noted that the purchases of previously owned homes fell by 4.3 per cent of what the month of July, ie sending sales slipping to five-year low. During the month of July, the annual turnover stood at 5.75 million dropped that down to 5.50 million. Statistics says that the existing sales have almost 13 percent over the last 12 months.

On the other hand, the LENNAR Corporation said its largest quarterly loss in its history after it wrote $ 848 million in the value of real estate. The company net loss was $ 513.9 million, or we can say $ 3.25 per share, compared with profit of $ 206.7 million, or $ 1.30 per share, during the same period last year. The shares of the Corporation LENNAR were up 4 percent in midday trading, at $ 23.20.

The shocking news in the housing, along with a disappointing report on the trust of customers from the Conference Board, whose index fell to 99.8 in September of 105,6 in August. This decrease was much more than what was predicted. Its index is at its lowest level in the past two years. A group of analysts believes that the reason for consumer concern is the weak job market and stagnant salaries, are likely to declines in consumer spending and job creation during the coming months.

Joshua Shapiro, chief economist of the United States, a New York company believes that research is under the cabinet is only because of the negative conditions in the residential real estate, affects and creates the changes in the attitude of consumers and consumer spending ability.

LENNAR has a drop of 44 percent of revenue last quarter and has 35 percent of its work force. It turned out to be another sufferer of high stocks and credit disease that many problems for the home builder at the time of the last few months. The Chief Executive Officer Stuart Miller said in a statement today that because of the continued decline in net margin and for this reason, more injuries to our inventory. He added that the staff in the business for the fourth quarter.

On the other hand, Darlene Williams, U.S. Assistant Secretary of Housing and Urban Development hopes that even if the current crisis in the market for sub prime mortgages should remain as they have a very important role in increasing home ownership in the United States. She hoped that the U.S. Congress would Federal Housing Administration, reforms to expand federal support of mortgages.

Martin Lukac represents RateTake refinancing rate market. RateTake hit consumers with multiple lenders offering low prices. Do you have too much debt? Get assistance and debt relief you will be amazed at what we can do together.