Housing Market Remains ‘Disaster’ In Westmoreland County

Map of Pennsylvania highlighting Westmoreland County (Photo credit: Wikipedia)

Veteran housing contractor Greg Kinzler of Washington Township knows all too well the lingering effects the nation’s 2008 recession has had on the region’s homebuilding market.

“It’s still a disaster, what’s going on. How do you expect the housing market to be booming? There are numerous factors causing the housing market to drop,” said Kinzler, president of Sparkle Construction – SPP Inc.

Activity in Westmoreland’s residential construction market has fallen so sharply that only 430 building permits were issued in 2013 for new single-family and multi-unit residences, less than half the 1,028 building permits issued 10 years earlier, according to U.S. Census Bureau statistics.

Prospective homebuyers are having a difficult time meeting banks’ credit requirements, Kinzler said.

Read more: http://triblive.com/news/westmoreland/6641819-74/market-building-homes#ixzz3CBkiMq9i
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Latest Housing Stats: One York Area Posted 60 Percent Jump In Median Sale Price

Map of Pennsylvania highlighting York County (Photo credit: Wikipedia)

York, PA – If you sold a house in York during the first three months of the year, chances are good that you made a profit from the deal.

Between Jan. 1 and March 31, the median sale price of a home in the York City School District jumped 60 percent while the number of homes sold fell 10 percent, according to data released Thursday by the Realtors Association of York & Adams Counties.

Overall, during the first quarter, the median sale price for a home sold in York County climbed 4 percent from $135,000 in 2013 to $139,997 this year.

Read more: http://www.ydr.com/local/ci_25539459/one-area-posted-60-percent-jump-median-sale

Regional Housing Market Rebounds

Map of Pennsylvania highlighting Chester County (Photo credit: Wikipedia)

Prudential Fox and Roach Realtors’ most recent HomExpert market report showed positive signs in the housing market for Chester County and the Greater Philadelphia region.

“We’re seeing an increase in sales and median and average sale prices, and we’re seeing a reduction in inventory and a significant reduction in days-on-market,” Prudential Fox and Roach Senior Vice President of Marketing Steve Storti said, “So, we’re seeing a market that is significantly improving, and we hope it continues.”

In April, 517 homes sold in Chester County, with a median price of $287,000.  The number sold was 15 percent higher than April 2012, and 64 percent more than April 2011.

In the first quarter of 2013, Greater Philadelphia saw a 7.8 percent home sales increase over the same quarter a year ago.  Chester County had 1,027 existing home sales during the quarter, up 6.8 percent over 2012.

Read more:  http://www.pottsmerc.com/article/20130611/FINANCE01/130619868/regional-housing-market-rebounds#full_story

Lower Pottsgrove Faces 500 Units As Housing Market Picks Up

Location of Lower Pottsgrove Township in Montgomery County (Photo credit: Wikipedia)

LOWER POTTSGROVE — Two large developments being proposed in the township and totally more than 500 units may be part of a regional uptick in the housing market.

One proposal, still in its early stages, would site as many as 300 housing units, a hotel, bank and day care center on 42 acres between South park and Evergreen roads at the Sanatoga interchange with Route 422.

The second is a redux of a 2005 proposal to develop 140 acres on the west side of North Pleasant View Road that would add 265 more units to the mix.

“I can tell you absolutely I am seeing more (housing) going on,” said Trappe attorney Robert Brant, who is representing MasterHouse, the developer that plans to present the Sanatoga interchange proposal at a May 6 meeting of the board of commissioners.

Read more:  http://www.pottsmerc.com/article/20130329/NEWS01/130329177/lower-pottsgrove-faces-500-units-as-housing-market-picks-up#full_story

Housing’s Dead — Is It Time to Buy?

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BOSTON (The Street Ratings) — No one’s buying homes, never mind homebuilder stocks. Companies such as Pulte(PHM), DR Horton(DHI) and Lennar(LEN) may even be the most contrarian investment today.

The outlook for the housing market, as reported by the mass media, is not good. In case you’ve missed them, here are a few of the headlines from over the past several weeks:

“No recovery in sight for U.S. housing market”

“July real estate market fell short of expectation”

“Housing data shows sector is still weak”

To read the rest of the story, click here:

http://business-news.thestreet.com/berksmont-news/story/housings-dead-is-it-time-to-buy/11224534