Jacksonville new home construction growth in a contributing factor for higher PHSI in the South.   The Jacksonville new home construction market is no doubt helping boost the overall Pending Home Sales Index (PHSI), which is a forward-looking indicator based on contract signings. The PHSI climbed 3.3 percent to 105.9 in July from 102.5 in June. The index is at its highest level since August 2013 (107.1). A PHSI of about 100 is considered an average.
Pending home sales in the South increased 4.2 percent to an index of 119.0 in July. PHSI is a good indicator of the health of the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed. Economists…

    Square footage matters. 200 square feet free from ICI Homes. By: Alan Aptheker  In Julington Creek, ICI has Magnolia Preserve and Plantation Grove. In Magnolia Preserve, they're offering to match buyers who purchase 200 square feet of extra space, with another 200 square feet for free. You've see free kitchen packages, free appliance premiums, even waived lot premiums, but this might be a new one in Jacksonville new construction offers.   Mandarin's Julington Creek Plantation has about 1,200 acres of natural areas which include over 100 acres of ponds. Inside, outside, this goes to show that Jacksonville home buyers are looking for big spaces in and around their homes. For the same price, why not, especially when it comes to resale…

Living large is the trend for new construction homes in Jacksonville. By: Alan Aptheker   Jacksonville new construction is big, literally. As a measure of how large a home you can buy for your money, low price per square foot is typically the metric used. Jacksonville new construction homes are some of the lowest price-per-square-foot in the nation, averaging about $233 per square foot, bested only by Oklahoma City and Dallas/Ft. Worth.
  Builder Magazine recently published their "Top 5 Cities for Buying Big Homes" list. Wide open spaces - big closets, open kitchens with an expansive living/dining areas, double vanities, etc., all factor into the current clamor for bigger homes.  And to build a big home, you need a large lot. Lots in…

Scary. Home Mortgage rates could be edging closer to 5% by the end of 2014. 
By: Alan Aptheker Low mortgage rates have been a great incentive to buy a home. An even greater incentive is the threat of high mortgage rates. In October, the Fed will make a stealthy move that could hit you right in the mortgage payment.
Fed policy is really boring, but suffice it to say at least they've kept mortgage rates low by buying Mortgage Backed Securities. When the Fed buys these assets, the Fed gets fatter. It loans more money to banks. Banks get fatter. They loan more money to people like you and me. We buy things like houses.  
In short, the Fed feels the economy is getting strong enough to stand up on its own. But the Fed has three distinct…