California home permits declined 44 percent in 2009
California homebuilders pulled 36,209 permits statewide in 2009, a 44 percent decline compared with 2008, and 83 percent lower compared with 2004, the peak of the current cycle, according to the California Building Industry Association (CBIA).  Last year also marked the second consecutive year of record-low housing production in California, according to CBIA.
Read more: cbia.org

Home sales up, prices down nationwide
Home sales in 25 metro areas increased 1.5 percent nationwide in November compared with the previous month, and 46.7 percent compared with November 2008, according to a report by Radar Logic Inc.  Prices decreased 4.2 percent across all metro areas surveyed;
Read more: radarlogic.com

New rule affects homeowners in foreclosure avoidance program
The U.S. Dept. of the Treasury and the Dept. of Housing and Urban Development (HUD) recently announced changes to its Home Affordable Modification Program (HAMP).  The changes, designed to help improve the conversion from trial loan modifications to permanent modifications, take effect June 1.  Mortgage servicers may elect to implement the changes sooner.
Read more: latimes.com

Rising FHA default rate foreshadows a crush of foreclosures
The share of borrowers who are falling seriously behind on loans backed by the Federal Housing Administration jumped by more than a third in the past year, foreshadowing a crush of foreclosures that could further buffet an agency vital to the housing market’s recovery.
Read more: washingtonpost.com 

Long commutes make risky borrowers, study says
Mortgage lenders should consider transportation costs associated with living in a particular area when evaluating whether to issue loans to home buyers, according to a new study sponsored by the Natural Resources Defense Council.
Read more: sfgate.com

New wave of foreclosures coming?
For the past year, the Federal Housing Administration has backed home loans that most big lenders wouldn’t touch.
Read more: MSNmoney

Contracts to buy homes inch up in December
The number of people preparing to buy a home rose slightly in December, a positive sign heading into the spring home buying season.
Read more: latimes.com