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Industry news roundup for November 22, 2010

November 22nd, 2010 by Berit Griffin

The New Water Cooler
“Builders are slowly revising their perceptions about social media being time consuming to sustain and difficult to track. Builders that dip into these waters also realize that social media don’t sell houses, at least not in the traditional ways other advertising and marketing do. Social media’s power lies in its informality and frequency. They provide common ground for two-way sharing between a brand and a prospect, and the opportunity for a company to harness the enthusiasm of its customers as they use social media avenues to spread the word about the builder either directly (check out the latest news in my new-home neighborhood) or indirectly (look at this great decorating tip).”

Homebuilder sentiment rises slightly in November
USA Today
“The National Association of Home Builders said Tuesday its monthly index of builders’ sentiment edged up in November to 16, the highest reading since June.”

Economist group expects slow growth in housing
Professional Remodeler
“Most analysts surveyed are expecting a “sizable advance” in housing starts in 2011, NABE reported. They also are predicting an average home price increase of just 1.2 percent.”

Shadow Inventory of Homes Rising
Developments Blog (Wall Street Journal)
“The “shadow inventory” of unlisted bank-owned homes and potential foreclosures increased to 2.1 million units in August, up 10% from one year earlier, according to new estimates from CoreLogic, a real-estate research firm.”

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