editor - This author has written 326 posts on RealEstateEconomyWatch.com.
Tue, Dec 17, 2013
Approximately 791,000 more homeowners returned to a state of positive equity during the third quarter of 2013 leaving only 6.4 million homes still underwater, according to the latest analysis by CoreLogic. The total has fallen from 7.2 million homes, or 14.7 percent of all residential properties with a mortgage, at the end of the second quarter [...]
Fri, Dec 13, 2013
In October, , the five healthiest were San Jose (Market Health Index of 9), San Francisco (8.9), Los Angeles (8.6), San Diego (8.4) and Denver (8.1). among the country's top 30 largest metro markets covered by Zillow while in September Homes .com reported a majority of the nation's largest markets, 52 percent, have recovered more than half of the equity lost during the housing depression.
Fri, Dec 13, 2013
Home sales in November saw a surprisingly steep drop, down 16.8 percent from October and falling 10.9 percent year over year. This is the first time in 2013 home sales have dipped below 2012 levels.
Mon, Dec 9, 2013
There were 48,000 completed foreclosures in the U.S. in October 2013, down from 68,000 in October 2012, a year-over-year decrease of 30 percent. On a month-over-month basis, completed foreclosures have decreased 25.6 percent, from 64,000 reported in September, according to CoreLogic.
Mon, Dec 9, 2013
Affordability problems for renters have skyrocketed over the past decade both in number and the share of renters facing them, according to a new report on rental housing from the Harvard Joint Center for Housing Studies. The inability of so many to find housing they can afford dramatically impacts the health and well-being of U.S. renters, as lower-income households cut back on food, healthcare, and savings, just to keep up.
Mon, Dec 2, 2013
National and regional rates of growth showed clear signs of winter chills in November, as summer buying activity gave way to the typical winter slow down. Nationally, home prices cooled off to a 10.8% year-over-year growth, a slight tapering over the previous quarter's 11.0% yearly growth
Mon, Nov 25, 2013
Despite a seasonal slowdown in activity, the housing market continued to post some interesting metrics in October, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
Fri, Nov 22, 2013
The Villages in Sumter County, Fla.; Sugar Land, Texas; Statesboro, Ga.; and Hays County and Austin, Texas have a number of things in common-especially their position atop the latest list of places homebuyers would love to live.
Thu, Nov 21, 2013
Freddie Mac Tuesday forecasted economic growth in the 2.5 to 3.0 percent range in 2014, more than 0.5 percentage points better than is projected for 2013 with the unemployment rate falling below 7 percent, perhaps by mid-2014.
Tue, Nov 19, 2013
October witnessed solid price increases, steady inventory and strong demand continuing well into the fall, according to Realtor.com's data.
Thu, Nov 14, 2013
October foreclosure filings rose 2 percent increase from September but were down 28 percent decrease from a year ago, according to RealtyTrac. The report also shows one in every 978 U.S. housing units with a foreclosure filing during the month.
Wed, Nov 13, 2013
In the 19 largely West Coast markets tracked by the Redfin online brokerage, both home prices and sales dropped slightly in October. But Redfin says no need to worry.
Wed, Nov 13, 2013
The rate of borrowers 60 days or more delinquent on their mortgages dropped 23.3% in the past year, ending Q3 2013 at 4.09% from5.33% in Q3 2012of all homeowners with a mortgage according to Transunion, one of the nation's top three credit bureaus.
Tue, Nov 12, 2013
Rising rates caused residential loan originations took a hit in the third quarter, and fourth quarter volume is poised for a further decline. But the top three lenders and servicers maintained their standings.
Thu, Nov 7, 2013
Home price increases will end up at 6.7 percent year-over-year before slowing to roughly 4.3 percent next year, on average, and eventually falling to 3.4 percent by 2018, a panel of more than 100 forecasters concluded.
Tue, Nov 5, 2013
Yet another national market report is featuring Motor City's improving price picture. But there's no reason to be envious. Detroit is a very long way from being healed.
Mon, Nov 4, 2013
The overall market share of single buyers declined from 32 percent in 2010 to 25 percent in both 2012 and 2013. First-time home buyers slipped to a 38 percent market share in the past year from 39 percent in a preview of NAR's 2013 Profile of Home Buyers and Sellers.
Thu, Oct 31, 2013
Home prices increased by 10.1 percent in the second quarter of 2013 compared to a year ago and prices nationwide are now 16 percent above the trough, reached in the fourth quarter of 2011, but still remain 24 percent below the peak, reached in the first quarter of 2006.
Tue, Oct 29, 2013
One year after Hurricane Sandy made landfall on the U.S. eastern seaboard, RealtyTrac today reported that foreclosure activity in the first nine months of 2013 is up 33 percent compared to the first nine months of 2012 in the 7-county region including the five boroughs of New York and Long Island.
Tue, Oct 29, 2013
S&P Dow Jones Indices released for its S&P/Case-Shiller1 Home Price Indices showing that the 10-City and 20-City Composites increased 12.8% year-over-year. Compared to July 2013, the annual growth rates accelerated for both Composites and 14 cities.
Mon, Oct 28, 2013
Prices increased on a month-over-month basis in 253 of the top 300 markets, fewer than 293 in July, according to Homes.com's Local Market Index for August.
Fri, Oct 25, 2013
Once a lowly line item on the nation's list of housing choices, single family rentals-once known as rental homes-- today are the hottest thing going.
Wed, Oct 23, 2013
Despite fears that higher mortgage rates could cripple a recovering housing market, the vital signs for housing remained remarkably good in September, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
Thu, Oct 17, 2013
Recovering prices helped short-term flippers earn an average gross profit of $54,927 on single family home flips in the third quarter, up 12 percent from a year ago.
Thu, Oct 17, 2013
Only about 20 percent of today's mortgage applications will pass muster with the new QM rule that takes effect January 10, according to a leading software platform used by lenders to comply with the Dodd-Frank Act and other federal rules and regulations covering mortgage lending.
Wed, Oct 16, 2013
The latest FNC Residential Price Index shows continued growth of August home prices as the U.S. housing recovery remains well underway but uneven results in markets across the nation
Wed, Oct 2, 2013
Insurance claims can cause significant increases in on homeowners' policies according to the state where they are located according to a new study commissioned by insuranceQuotes.com
Tue, Oct 1, 2013
Some 46 percent of renters are uninsured even though renters are more satisfied with their insurance than homeowners, according to a new JD Powers study released today.
Mon, Sep 30, 2013
Both the price of new homes and the cost of mortgages to buy rose in August. New home prices rose an average of $6,000 and loans rose 26 basis points.
Fri, Sep 27, 2013
Home-selling speeds fell for the fourth month in a row. In August, 27.9 percent of homes went under contract in less than two weeks, down from 29 percent in July and 33.7 percent in April.
Mon, Sep 23, 2013
Utilizing home pricing data for the period ending July 2013, the Homes.com Price Index showed gains for single-family properties in all 100 markets, up from 87 in the previous reporting period.
Mon, Sep 23, 2013
National home value appreciation in August rose 0.4 percent from July but August marked the third consecutive month in which monthly home values rose more slowly than the month prior.
Thu, Sep 19, 2013
Mortgage originations have increased by 10 percent from a year ago, a gain not quite as large as existing home sales. More important, a look at the most recent completed quarter shows a 29 percent increase in home purchases from the prior quarter and a decrease in the number of refinances, suggesting a sustained recovery is beginning to come from purchases, Experian reported.
Thu, Sep 19, 2013
The 2013 summer selling season ends on a strong positive note, with both home sales and prices significantly higher than last year. August becomes the 19th month in a row that both metrics were higher than the same month in the previous year. August home sales were up 6.5% and the Median Price of $188,450 was 12.9% higher than August 2012.
Thu, Sep 12, 2013
Housing demand by trade-up buyers is rising as the home equity available to these prospective buyers is improving as foreclosures sales decline nationwide and are in high demand in many fast-rising markets.
Thu, Sep 12, 2013
As the year's peak home buying season comes to a close, key market indicators point to a shift in the dynamics of the housing market, suggesting that future home value appreciations may likely be driven by market demand, rather than inventory shortages.
Thu, Sep 5, 2013
While 10.7 million residential homeowners nationwide owe at least 25 percent or more on their mortgages than their properties are worth, another 8.3 million homeowners are either slightly underwater or slightly above water, putting them on track to have enough equity to sell sometime in the next 15 months -- without resorting to a short sale.
Wed, Sep 4, 2013
Distress sales as a whole are falling but short sales are declining twice as fast as fewer homeowners are losing their homes over the past year.
Tue, Sep 3, 2013
The housing recovery will keep rolling right along through August as price increases continue to score in the double digit range and rise for the 18th straight month, according to CoreLogic's pending sales index.
Thu, Aug 29, 2013
Though three million homeowners were freed from the shackles of negative equity in the past year, it will take at least four more years for 7 million or more deeply indebted homeowners to reach positive equity, even as home values continue their current pace of recovery.
Thu, Aug 29, 2013
Homes sold at an estimated annualized pace of 5.5 million in July 2013, up 4 percent from the previous month and up 11 percent from a year ago -- the biggest annual increase in sales volume so far this year. But sales fell last month in states were prices are rising the most.
Thu, Aug 29, 2013
There were only about 49,000 completed foreclosures in the U.S. in July 2013, down from 65,000 in July 2012, a year-over-year decrease of 25 percent. On a month-over-month basis, completed foreclosures decreased 8.6 percent from the 53,000* reported in June.
Fri, Aug 23, 2013
Houses are selling faster in America than they have in three and a half years, the height of the homebuyer tax credit, as the recovery continues to roar through the summer months despite predictions the torrid pace of sales will slow.
Mon, Aug 19, 2013
Markets in northern Maryland, southeast Pennsylvania and downstate Illinois are lagging the furthest behind in the recovery while metro area markets in upstate New York, southwest Florida and the Bay Area of Northern California are leading the housing recovery, according to RealtyTrac's Housing Market Recovery Index.
Mon, Aug 19, 2013
Wells Fargo and Chase traded positions as the industry leader in originations as new purchase mortgages originations edged up in the second quarter.
Sun, Aug 18, 2013
As home price rebound in a recovering housing economy, more sellers are purchasing extended home warranties (also called service contracts) to give themselves a competitive edge.
Thu, Aug 15, 2013
After months of decline, foreclosure activity increased in July, led by Florida and six other judicial states where legal procedures delay foreclosure processing.
Tue, Aug 13, 2013
While declining numbers of foreclosures are slowing down most investors, the leading homes-for-cash company is expanding into new territories.
Thu, Aug 8, 2013
The share of consumers who believe interest rates will go up over the next year increased another 5 percentage points to 62 percent, the highest level in the three-year history of Fannie Mae's July 2013 National Housing Survey.
Thu, Aug 8, 2013
More than 100 forecasters said they expect home values to end 2013 up an average of 6.7 percent year-over-year, according to the latest Zillow Home Price Expectations Survey, a significant jump from the 5.4 percent annual increase predicted the last time the survey was conducted.
Wed, Aug 7, 2013
Asking home prices are losing steam as mortgage rates rise, inventories expand, and investor demand declines. Nationally, asking prices dropped 0.3 percent in July - the first month-over-month (M-o-M) decline since November 2012. Seasonally adjusted, prices rose 3.3 percent quarter-over-quarter (Q-o-Q), down from a peak of 4.2 percent in April. Year-over-year (Y-o-Y), prices are up 11 percent nationally, according to Trulia's July market report.
Tue, Aug 6, 2013
Sales in the nation's fastest markets are slowing down as inventories rebound. In June fewer homes went under contract within one or two weeks of being listed, continuing a slowing pattern that began in April.
Thu, Aug 1, 2013
Nearly half of all sellers in a recent survey are worried that rising mortgage rates will tank buyer demand, a doubling of concern since the first quarter.
Wed, Jul 24, 2013
After five consecutive months of declines, the national delinquency rate-borrowers who are past due 30 days or more but not in foreclosure-zoomed 10 percent in June.
Tue, Jul 23, 2013
U.S. house price appreciation continued in May 2013, rising 0.7 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI). The May HPI change marks the sixteenth consecutive monthly price increase in the purchase-only, seasonally adjusted index. The previously reported 0.7 percent increase in April was revised downward to a 0.5 percent increase.
Mon, Jul 22, 2013
Thanks to a jump in bank failures and a continued worsening trend in the credit union sector, quarterly mortgage-related casualties rose to the highest level in a year. The forecast is for a decline in bank failures and an increase in credit union and non-bank closings.
Mon, Jul 15, 2013
While June inventories continue to be down on year-over-year basis, they rose for the sixth consecutive month and are steadily returning to more normal levels. The number of homes listed for sale increased by 4.3 percent in June to 1.9 million homes, the highest level in the last year, according to monthly data released Monday by realtor.com.
Fri, Jul 5, 2013
Luxury sales have turned the real estate economy on its head. Just a few months ago, sales were shaped like a pyramid, with demand greatest for lower priced properties. Now sales of high priced homes are leading the recovery.
Sun, Jun 30, 2013
Pending home sales rose in May to the highest level since late 2006, possibly driven by buyer fears that mortgage rates will rise further.
Thu, Jun 27, 2013
Since 2007, the number of households are paying more than half of their income for housing despite the crash in home values and bottom basement interest rates has increased by 2.6 million.
Tue, Jun 25, 2013
Home prices rose to 2004 levels in the S&P Case-Shiller Indices for April as the10- and 20-City Composites posted their highest monthly gains in the history of S&P/Case-Shiller.
Tue, Jun 25, 2013
The boomlet in foreign purchase of US residential property is apparently over. Purchases by international buyers fell 17 percent last year, down approximately $14 billion from the previous
Mon, Jun 24, 2013
Home prices have regained nearly half of the value lost since prices peaked in June 2006 and prices rose 1.5 percent last month and 4.5 percent above January prices.
Thu, Jun 20, 2013
Some 20 percent of owners of properties making their way through the torturous foreclosure process are abandoning their homes rather than hoping for a miracle or waiting until the bitter end eventually comes.
Wed, Jun 19, 2013
The inventory deficit that jump started the recovery is now filling up fast with new listings as home sellers get the message. But are they hastening the day prices slow down?
Thu, Jun 13, 2013
Tough lending standards have cut the risk of mortgage defaults lower than they have been in nearly a decade, but high unemployment is making it premature to declare victory in the mortgage crisis.
Thu, Jun 13, 2013
Investors desperate for foreclosures to buy got a break in May as banks cracked down on overdue defaulters, increasing starts and repossessing homes occupied by defaulters.
Wed, Jun 12, 2013
Four times more homeowners returned to positive equity in the first quarter of year as the recovery drove home values higher across the nation.
Mon, Jun 10, 2013
In some markets--many of them in California--the home price rebound has pushed prices above their EHP level, which should be a caution sign for investors seeking to make money in a quick re-sale, according to the latest HomeVestor/Local Market Monitor Best Market Ratings for investors.
Mon, Jun 10, 2013
Real estate investors are responding to higher prices by buying fewer properties in the next 12 months and holding their rental properties at least five years or longer, according to a national survey of real estate investors conducted by ORC International for MemphisInvest.com and Premier Property Management Group.
Thu, May 30, 2013
Foreclosure sales dropped dramatically first quarter. A total of 190,121 properties that were in some stage of foreclosure or were bank-owned (REO) were sold during the second quarter, a decrease of 18 percent from the previous quarter and down 22 percent from the first quarter of 2012.
Thu, May 30, 2013
You've heard of days on market for a listing? How about a year on market for buyers? A new survey found that one out of three buyers has been looking for a home for more than a year and now they are ready to grovel.
Tue, May 28, 2013
Just as the volume of concern was growing that the recovery would be short-lived, Case-Shiller reported double digit price increases in all three of its composites, which posted their highest returns in seven years.
Tue, May 21, 2013
The Sold-to-List Price Ratio, one of the leading market indicators for predicting home prices, is helping analysts predict home prices in markets with varying economic condition, shortages of available housing inventory and its impact on home prices. Pro Teck Valuation Services' May Home Value Forecast (HVF) Update analyzes the Honolulu, Tucson, San Francisco, and Chicago metro areas to determine how the indicator has been useful from a historical perspective and in current market conditions.
Mon, May 20, 2013
The supply of foreclosed homes and REOs has been shrinking by 20 percent or more for the past few years and now a noted columnist covering mortgages reports foreclosures have probably already peaked and now are in decline.
Mon, May 20, 2013
The Appraisal Institute recently advised that landscaping can make a significant difference a home’s value.
Thu, May 16, 2013
The number of homes for sale in April inched 1.6 percent higher than in March, the first month-over-month inventory increase since June 2010, according to the April RE/MAX National Housing Report.
Tue, May 14, 2013
In the several California markets that have seen soaring prices and historically low inventory levels during this spring buying season, a flood of new listings drove inventories up. The increasing inventories are helping to moderate price increases in the hot markets. In Sacramento, for example, list prices actually declined on a monthly basis.
Tue, May 14, 2013
With the latest surge in both single and multifamily rentals, individuals and families on the move, finding extra space can be a challenge.
Mon, May 13, 2013
Despite the housing recovery and home sales running 10.3 percent above the level of a year ago, mortgage originations are falling, signaling weakening refinancings.
Wed, May 8, 2013
Home prices are rising at double digit rates. Inventories are at historic lows. Two out of five applicants for a purchase mortgage are rejected. Yet nearly three quarters of Americans say it's a good time to buy a home.
Tue, May 7, 2013
More than 100 forecasters in a national survey said they expect the home values to reach an average of 5.4 percent year-over-year and that current Federal Reserve policies post some risk of re-inflating the housing bubble.
Tue, May 7, 2013
March home prices rose at double digit rates-increasing faster than they have in seven years-and the outlook is nearly as good for April.
Mon, May 6, 2013
Homeowners with positive equity in their homes have fewer problem loans and are outperforming the national average for defaults. Their default rates are close to pre-crisis norms.
Fri, May 3, 2013
Despite falling mortgage interest rates and home prices from 2008 to 2011, severe housing cost burdens remained stable but high for working families who own their homes while more than one in four working renter households (26.4 percent) spent more than half of their income on housing costs in 2011-an increase of more than three percentage points since 2008.
Tue, Apr 30, 2013
Data through February 2013, released today by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, showed average home prices increased 8.6 percent and 9.3 percent for the 10- and 20-City Composites in the 12 months ending in February 2013. The 10- and 20-City Composites rose 0.4 percent and 0.3 percent from January to February.
Fri, Apr 26, 2013
The 9.2 percent jump in home sales last year and record refinancings translated into a 21 percent increase for the nation's title industry and $504 million in profits.
Wed, Apr 24, 2013
Despite extensive media coverage of the widespread, multistate flooding caused by Superstorm Sandy last fall and Hurricane Irene in the summer of 2011, 1 in 5 homeowners is still surprised to learn that home insurance does not cover flooding, according to a Bankrate nationwide survey as part of the April Financial Security Index.
Wed, Apr 24, 2013
Slightly over half of appraisers in a recent survey expressed a degree of confidence in the housing market and nearly half reported appreciating home values in their markets.
Tue, Apr 23, 2013
In these times when starter homes are so hard to find and homes are selling in a day once they are listed, more and more young couples are rushing to the closing table before they make it to the altar.
Fri, Apr 19, 2013
Neither an upswing in home sales nor a wave of new multifamily construction is affecting apartment vacancy rates so far this year. Rates are down and rents are strong across the nation. Apartment markets improved across all areas according to the National Multi Housing Council’s (NMHC) April Quarterly Survey of Apartment Market Conditions. All four [...]
Mon, Apr 15, 2013
Most real estate agents want mortgage originators to close their home buyers' mortgages in 30 days or less-50 percent faster than the national average closing time-according to a new national survey released today.
Fri, Apr 12, 2013
Rents in major investor markets are showing no sign of weakness despite expectations that the housing recovery will put pressure on single family vacancy rates, according to a report by the CEO of Altos Research.
Thu, Apr 11, 2013
In the first quarter, it took nearly 16 months to process the average foreclosure in America, a new record and an increase of 14 percent over the fourth quarter of 2012.
Thu, Apr 4, 2013
Nearly 4 million more single-family homes have been added to the rental market since 2005. This new supply has fully caught up with the increased rental demand during the housing crisis - causing single-family home rents to flatten nationwide.
Wed, Apr 3, 2013
Five Western states with the highest home price appreciation in February, Nevada (+19.3 percent), Arizona (+18.6 percent), California (+15.3 percent), Hawaii (+14.6 percent) and Idaho (+13.5 percent), led the nation to the biggest price increase in seven years.
Tue, Apr 2, 2013
Have real estate investments peaked? After years of growth during the Foreclosure Eva, investment purchases declined slightly last year after surging 64.5 percent in 2011. With the cost and competition to buy distress sales growing and prices for normal homes rising, will investors pull back and start cashing in their assets?
Tue, Apr 2, 2013
The highest tier of homes for sale, which has been the last part of the market to feel the effects of the housing recovery, is on the verge of switching from a buyers' to a sellers' market for first time in years.
The inventory of properties in the foreclosure process expanded by nearly 10 percent in the first quarter, casting a pall over the housing recovery as local markets prepare for more foreclosures than expected. However, a high level of demand driving by investor activity may mitigate their impact.
Buying a house make a national list of the most foolish mistakes American adults feel they have made, according to a survey released to coincide with April Fools' Day.
Last week the National Association of Hispanic Real Estate Professionals called on lawmakers in Congress and government officials to reverse investor-favored policies that have created an imbalance in housing inventory and unfavorable conditions for Hispanics and other first-time homebuyers.
Obama's budget could provide tax relief to investors from overseas who want to invest in American real estate. Obama has long discussed the need for investment in infrastructure from both the public and private sector, and he believes that inflows from overseas could bring in some of the capital he would like to see.
Florida, California, New York, Illinois and New Jersey were home to four out of ten distressed properties in the nation in January, an indication of how far east America's foreclosure nightmare has moved
Home prices increased more in 2012 than they have since have since the summer of 2006 in both of the S&P/Case-Shiller Home Price Indices.
Mon, Mar 25, 2013
Worried about predictions of rising mortgage rates, additional increases in home prices and new costs for FHA borrowers, first-time homebuyers are kicking off the spring buying market in years, despite skimpy inventories and late winter weather across much of the nation.
Mon, Mar 18, 2013
A nationwide panel of 118 economists, real estate experts and investment and market professionals expects home values to end 2013 up an average of 4.6 percent and rise cumulatively by 22 percent, on average, over the next five years, according to the first quarter Zillow Home Price Expectations Survey.
Thu, Mar 14, 2013
Thirty-eight real estate markets have been tagged as "dangerous" for investors looking to make money on buying homes as rental properties in new quarterly data compiled by HomeVestors of America (known as the "We Buy Ugly Houses®" company) and Local Market Monitor.
Thu, Mar 14, 2013
Property values in January were 5.7 percent higher than they were a year ago, but they still have a long way to go to regain the equity that has been lost in the past six years.
Wed, Mar 13, 2013
Real estate professionals are more optimistic that prices will increase this year than they were last year, but they're less enthusiastic about the outlook for sales increases in 2013 than they were in 2012.
Mon, Mar 11, 2013
Just as the clock ticks down on the launch of the 2013 buying season, the Movoto mega site reports that in February days on market has dropped dramatically in its market footprint, which is heavily dominated by California markets.
Fri, Mar 8, 2013
Two days after rival web site Trulia announced it had detected signs that the year-long decline in inventories was slowing, Zillow said that the crunch could be beginning to ease somewhat.
Mon, Mar 4, 2013
The housing recovery is expected to grow at an annualized rate 0.6 percent through the third quarter of this year, then gain momentum and prices are projected to grow 3.7 percent between the third quarters of 2013 and 2014 until settling down to 3.3 percent annual increases over the next three years according to Fiserv, a financial services technology provider using data from the Federal Housing Finance Agency (FHFA).
Thu, Feb 28, 2013
RealtyTrac reported today 947,995 U.S. properties in some stage of foreclosure or bank-owned (REO) were sold during the year, a decrease of 6 percent from 2011 and down 11 percent from 2010.
Wed, Feb 27, 2013
The major national home price reports agree on trends but never agree on numbers because their data comes from different places and are manipulated differently to create the most accurate results. Yesterday S&P Case-Shiller announced 20012's gain was 7.3 percent. The federal government's index showed a 5.5 percent gain.
Mon, Feb 25, 2013
Single family home tenants are 18 percent more likely than apartment tenants to stay in their current homes five years or longer, suggesting that demand for single family homes, the fastest growing rental category, will be more stable than multifamily demand, according to a new national opinion survey released today by Premier Property Management Group.
Fri, Feb 22, 2013
Expenditures on foreclosures and short sales drove the remodeling market in 2011, as investors spent more to rehabilitate each foreclosure they purchased to flip or rent than either lenders or owners who bought foreclosures to live in. However the rental share of overall spending on improvements has been shrinking since the housing bust.
Thu, Feb 21, 2013
How far can inventories fall? The latest existing home data suggests we have yet to find out because they are still in freefall just two months before the spring buying season nears. Will sellers warm up in time to populate the MLSs with enough listings to get buyers excited? Or will the inventory drought drive buyers away at the most important time of the year for housing markets?
Mon, Feb 11, 2013
The rise in student loan debt is certainly a cause for concern, but may not be a significant a drag on young home buyers since the typical borrower has not seen a significant jump in the amount of debt incurred and seems to have a manageable monthly payment.
Mon, Feb 11, 2013
For the first time in years, the American public is hearing more good news than bad news about real estate values first time, as many say they are hearing mostly good news (25%) as bad news (24%) about real estate values.
Thu, Feb 7, 2013
The percentage of customers signing offers in January increased by 12 percentage points according to a leading brokerage and 23 percent of Americans think it is a good time to sell compared to 11 percent the same time last year, according to Fannie Mae's January 2013 National Housing Survey results.
Tue, Feb 5, 2013
Home prices in January were unchanged from December and they barely remained in the black compared to a year ago, but rebounded in January, according to the most current national market report.
Thu, Jan 31, 2013
Hot foreclosure markets have come and gone over the past seven years but one thing seems to stay the same. The markets with the most and the cheapest foreclosures are still located in Florida.
Tue, Jan 29, 2013
Weak prices in a number of late fall markets as evident in NAR's latest pending sales index has been causing concern in the real estate circles, but Case-Shiller, the final word on prices, downplayed the doubters today.
Fri, Jan 18, 2013
Just two weeks after declaring home prices are overvalued by 10 percent, Fitch Ratings said yesterday that December's solid single family housing starts and an unexpected jump in multifamily starts are clear signals that 2013 should begin strongly for U.S. housing.
Thu, Jan 3, 2013
Completed foreclosures fell 23 percent in November compared to a year ago and the national foreclosure inventory declined 18 percent from November 2011, from 1.5 to 1.2 million properties as demand from investors kept local inventories low.
Wed, Jan 2, 2013
The current residential shadow inventory as of October 2012 fell to 2.3 million units, representing a supply of seven months. The October 2012 inventory level fell 12.3 percent from a year earlier, when the shadow inventory stood at 2.6 million units.
Tue, Jan 1, 2013
Buying a home is a huge step in life. It"s a big accomplishment, along with adding a sense of security in knowing that you own your own home. But the process of buying a home can be tough and exhausting, and it usually is stressful for even the calmest individuals. One of the best ways to make home buying easier is by having the right Realtor.
Mon, Dec 31, 2012
As the year draws to a close, the median asking price for listings has fallen to just 2.6 percent above the level of a year ago, significantly below the year-over-year high for the year of 3.8 percent recorded in April on the housetracker.net database.
Wed, Dec 26, 2012
Markets that fell hardest during the housing crash five years ago today are racking up the biggest year over year gains as the prices in the nation as a whole through October exceeded analysts' forecasts. Housing markets that were on their knees just a year or so ago from foreclosures and low employment today are seeing prides rise much faster than cities that never felt the housing crash, according to the latest S&P/Case-Shiller Home Price Indices.
Fri, Dec 21, 2012
Single family home construction, the largest segment of the nation's home building industry, is operating at only 40 percent of its normal capacity despite a healthy improvement in starts and production over last year
Thu, Dec 20, 2012
Record housing starts, bolstered by multifamily construction, is a sign that demand may not keep up with capacity and strengthening homeownership will threatening the boom in multifamily construction, according to one of the nation's leading ratings services.
Mon, Dec 17, 2012
Nearly three quarters of potential buyers believe home prices will increase in their neighborhood in the next twelve months, twice as many as in the first quarter.
Fri, Dec 14, 2012
Among the five lenders involved in the National Mortgage Settlement - Bank of America, Wells Fargo, JPMorgan Chase, Citi and Ally/GMAC - non-judicial pre-foreclosure activity (NOD, NTS) decreased 41 percent in November compared to a year ago, led by Bank of America with a 63 percent decrease and Citi with a 40 percent decrease. Meanwhile judicial pre-foreclosure activity (LIS, NFS) for the five lenders combined increased 26 percent from a year ago, led by Chase with a 114 percent increase and Wells Fargo with a 37 percent increase.
Tue, Dec 11, 2012
In his 2013 forecast, Freddie Mac's chief economist, Frank Nothaft, sees more than a million new households bolstering housing starts, driving apartment vacancy rates down to ten year lows and outpacing the boom in new apartment construction.
Fri, Dec 7, 2012
There are plenty of companies that effectively use many different kinds of social media. Whether it's interacting with customers on Twitter, or posting interesting information on Facebook, lots of companies do a great job of keeping customers engaged. Often though, many companies fail to use YouTube as a marketing tool. It's perplexing, because there are so many plusses to having a YouTube account yet so many marketing departments fail to use YouTube.
Thu, Dec 6, 2012
For the first time ever, sales of properties in some stage of foreclosure (largely short sales) outnumbered sales of bank-owned properties (REO) in the third quarter, as short sales continue to gain market share at the expense of REO and sales of completed foreclosures at auction.
Tue, Dec 4, 2012
October prices nationwide, including distressed sales, increased on a year-over-year basis by 6.3 percent in October 2012, the biggest increase since June 2006 and the eighth consecutive increase in home prices nationally on a year-over-year basis, according to the latest data from CoreLogic.
Fri, Nov 30, 2012
In addition to banks' tight mortgage lending standards that were criticized by Federal Reserve Chairman Ben Bernanke two weeks ago, Fitch also said continued recovery in residential real estate prices will require regional improvements.
Wed, Nov 28, 2012
With our economy finally recovering from a terrible recession and the possibility of another financial collapse in the coming months, it can be difficult to decide whether or not to invest. Is investing during a bad economy good, or bad?
Tue, Nov 27, 2012
Have you ever had that free-falling feeling, like someone has blindfolded you, pushed you out of an airplane door at 5,000 feet and all you can do is scream at the top of your lungs and wonder how long it will take before you hit the ground?
Tue, Nov 20, 2012
With record low interest rates and affordable prices, this was to be the year of the first-time home buyer. Instead, first-timers' market share has fallen from 39 percent of existing home sales last year to 31 percent in October. What happened?
Mon, Nov 19, 2012
Over the past few months, the number of markets experiencing year-over-year price declines has steadily increased, while the number experiencing list price increases has steadily declined. Compared to one year ago, a higher number of markets are ending the year with a year-over-year price decline (44 in 2012 vs. 36 in 2011) and a lower number of markets have a year-over-year price increase (71 in 2012 vs.84 in 2011).
Thu, Nov 15, 2012
New Jersey , New York and Connecticut got hit with a storm of new foreclosures just days before Superstorm Sandy smashed homes and a knocked out power to missions of homeowners.
Tue, Nov 13, 2012
The latest research on consumer confidence shows that consumers' forward-looking view of the economy is at its highest level since the onset of the recession, including interest in buying a new home, which is at its highest level since the recession.
Fri, Nov 9, 2012
The national average discount on foreclosures has shrunk by 1.4 percentage points over the past year as competition for foreclosures as inventories tighten is driving prices closer to full-price properties.
Thu, Nov 8, 2012
Price growth was strong in every region in October, including the Northeast where prices rose more than any other region. However, Midwest prices continued to trail the nation as the recovery is still fragile in the nation's heartland.
Tue, Nov 6, 2012
CoreLogic's pending sales index indicates that October prices will rising by 5.7 percent on a year-over-year basis from October 2011 and falling by 0.5 percent on a month-over-month basis from September 2012 as sales exhibit a seasonal slowdown going into the winter.
Mon, Nov 5, 2012
Believe me, the last thing in life I ever wanted to be was a landlord. The thought of it reminds me of the old silent movies tying his poor tenant to a railroad track as she screams, "No, I can't pay the rent!"
Tue, Oct 30, 2012
Evidence is growing that more borrowers will be approved for a mortgage without increasing risk to lenders through more sophisticated credit risk scoring that uses alternative data, such as unsecured credit and property history in consumer credit report analysis, according to a new report by the CEB TowerGroup.
Mon, Oct 29, 2012
CoreLogic today warned that storm surges generated by Hurricane Sandy could ruin more than 210,000 homes valued at over $67 billion among the coastal Mid-Atlantic states as the storm makes its way inland today and tomorrow.
Tue, Oct 23, 2012
Condo values in pricey Mountain View, CA could take a dip Thursday when Realtor Ken DeLeon lists a property for one dollar to initiate a bidding war for the property, with a deadline of Thursday, November 8th.
Thu, Oct 18, 2012
Fannie Mae’s economists expect total home sales to rise approximately 9 percent this year from last year’s depressed levels.
Wed, Oct 17, 2012
A median-income household can only afford a median-priced home in 14 of the 25 largest metropolitan areas in the U.S., according to research released today by Interest.com, a Bankrate company. Detroit, Atlanta and Minneapolis are the most affordable metropolitan areas and San Diego, New York and San Francisco are the least affordable.
Tue, Oct 16, 2012
Month-to-month inventories have now fallen for 27 consecutive months, according to the monthly RE/MAX National Housing Report. Inventory was 29.1 percent below September 2011 and may have contributed to the drop in sales from August.
Mon, Oct 15, 2012
Year-over-year gains for single-family starts and new home sales have been sustaining the momentum of earlier this year and new homes and existing home sales have also been advancing. Year-to-date U.S. housing metrics are well above 2011 levels, according to Fitch Ratings.
Tue, Oct 9, 2012
The shadow inventory of foreclosures fell in July and the flow of new seriously delinquent loans into the shadow inventory has been roughly offset by the equal volume of sales, but large numbers of potential foreclosures still linger in five states where processing timelines are much longer than the national median.
Fri, Oct 5, 2012
Rising home values have brought homeowner equity to its highest level since the third quarter of 2008 and helped lift 1.3 million families above water. Homeowner equity jumped $406 billion, or 5.9 percent, to $7,275 billion in the second quarter of 2012, according to the Obama Administration's September Housing Scorecard.
Thu, Oct 4, 2012
The long-feared backlog of foreclosures that accumulated during the Robogate processing slowdown in 2010 and 2011 has declined further as the number of new foreclosures dwindled in August and completed foreclosures are being quickly absorbed in markets hungry for discount priced distress sales.
Wed, Oct 3, 2012
California's housing market will continue to recover in 2013, as home sales are forecast to increase for the third consecutive year and the median price to rise for the second straight year, according to the California Association of Realtors' 2012 forecast.
Wed, Oct 3, 2012
Real estate professionals continue to be more optimistic about the direction of home values than homeowners. Fifty-one percent of real estate professionals expect home values to increase, up from 48 percent from last quarter. Thirty-four percent of homeowners expect home values to increase, up from 27 percent last quarter.
Wed, Oct 3, 2012
In three months, short sales may screech to a halt unless legislation is extended that allows sellers to avoid paying taxes on the amount of their mortgages that lenders forgive when then sell their homes.
Tue, Oct 2, 2012
As the housing economy makes incremental progress, people are becoming more confident about job prospects and taking on new mortgages.
Tue, Oct 2, 2012
States that lost the most home value during the housing depression, until recently largely hotbeds for discounted foreclosures and short sales, today are leading the nation in price gains.
Wed, Sep 26, 2012
The latest quarterly survey of housing economists and experts, which generally focuses on economic issues like price expectations, came up with a surprising result. As the final days of the Presidential and Congressional elections draw near, most participants said they would be happy to get rid of the crown jewel of housing policy, the mortgage interest deduction.
Fri, Sep 21, 2012
One more reason real estate professions should fear presidential elections came to light in a new survey by the MortgageMarvel web site: as many as one out of four buyers is sitting on their hands to see who wins.
Thu, Sep 20, 2012
Despite rising prices and shrinking foreclosure inventories, 65 percent of active real estate investors plan to buy as many or more residential properties in the next 12 months as they did in the past year, according to a new joint BiggerPockets.com/Memphis Invest national survey conducted by ORC International for BiggerPockets.com, the nation's largest and most active real estate investing social network, and Memphis Invest, one of the nation's leading providers of single-family rental real estate investment services.
Sat, Sep 15, 2012
There are many advantages to living in a neighborhood known nationwide as the Chernobyl of American real estate. Movie directors like our barren, graffiti-decorated streets for post-Apocalypse scenes and zombie movies. You can park anywhere and so many stores keep closing that there are sales galore. You never have to worry about irresponsible neighbors who borrow things and forget to return them. Except for the occasional teen-age all-night rave party in a rotting foreclosure, there's lots of peace and quiet around the clock.
Thu, Sep 13, 2012
Rising prices, disappearing bargains and economic troubles at home are quickly thinning the ranks of foreign property buyers. Who, just a few months ago, were being hailed as a major force in Florida markets and other resort destinations.
Sun, Sep 9, 2012
More than 61 percent of respondents who purchased their home four years ago say they are as well or better off than they were four years ago, answering the quadrennial question asked every election season.
Tue, Sep 4, 2012
Home prices nationwide, including distressed sales, increased on a year-over-year basis by 3.8 percent in July 2012 compared to July 2011. This was the biggest year-over-year increase since August 2006.
Thu, Aug 30, 2012
Foreclosure activity patterns are varying significantly from state to state, often hinging on the level of dysfunction that exists in each state's foreclosure process, reported RealtyTrac yesterday. Recent legislation and court rulings could lengthen the foreclosure process in some of the states with the shorter timelines, however, resulting in a temporary foreclosure lull and subsequent rebound in those states as well, said Daren Blomquist, Vice President of RealtyTrac.
Tue, Aug 28, 2012
Investor participation in the housing market dropped sharply in July, establishing a two-month trend and showing a clear reversal of long-term growth in investor purchases of residential properties, according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
Thu, Aug 23, 2012
Despite rising home values that are freeing homeowners from negative equity, nearly half of all homeowners under 45, many of whom have young, growing families in need of more space, are still frozen in place because they are underwater on their mortgages.
Tue, Aug 21, 2012
Both home values and rents rose on a national basis from June to July, but in several major markets where demand for homes remains lower, rents increased more than the national median.
Mon, Aug 20, 2012
Dwindling inventories are now less than three-quarters the size that they were a year ago, according to the latest national report from RE/MAX. In fact, Inventories are so low that they have turned from friend to enemy of the housing recovery, limiting home sales, especially in the lower price range, where most sales are now occurring.
Wed, Aug 15, 2012
Home-buyer satisfaction at an all-time low and home-seller satisfaction declining as well, real estate companies are challenged to manage customer expectations though Keller-Williams ranked highest among both buyers and sellers, according to the J.D. Power and Associates 2012 Home Buyer/Seller Satisfaction Study released today.
Mon, Aug 13, 2012
Our son Freddy is one of those young people for whom the bumper sticker "Hire a Teenager While They Still Know Everything" was created. Perhaps that's why he can't get a job, now that he's no longer a teenager.
Thu, Aug 9, 2012
Nearly half of all seriously delinquent borrowers have stayed in their homes more than a year in judicial states, which have developed a serious backlog of pre-foreclosures, according to June data from LPS Analytics.
Tue, Aug 7, 2012
Evidence is mounting that the steadily strengthening housing recovery is moving beyond lower priced homes, where the lack of inventory is greatest, into mid-tier and even luxury housing, according to the first market report on July sales.
Mon, Aug 6, 2012
It might be harder to get a loan today, but it costs a little less to close one than it did a year ago because lenders are estimating closing costs netter, according opt the latest annual survey of closing costs by Bankrate.
Wed, Aug 1, 2012
A new analysis of the impact of pent-up demand for homes that has been deferred by the housing crisis and recession could increase the homeownership rate by nearly 2 percent.
Tue, Jul 31, 2012
In another sign that the housing economy is steadily improving, the number of Realtors has increased at a faster rate in the past three consecutive months than it has since the tax credit boom in 2009.
Fri, Jul 27, 2012
My wife and I had just settled down in front of the TV the other night when the saddest advertisement came on. A grandpa was sitting with his grandson on the steps of their home, talking about how he hoped homeownership would still be around when the little kid grew up. I thought I could see a tear in the old guy's eye. I was so upset that it ruined the whole first half of Dancing With the Stars for me.
Thu, Jul 26, 2012
Can you imagine the positive impact that consistent, positive headline news coverage would have on your sales and public awareness of your brand? Learn how to create a data communications program that catapults you to the top of the real estate industry.
Tue, Jul 24, 2012
June existing home sales might be down 5.4 percent nationwide but hot weather is heating up hot markets to boiling, pushing sales to levels unseen in years and raising the specter of price bubbles
Wed, Jul 18, 2012
Not only are inventories down 27 percent from last year, prices are up 2.5 percent in May and 3.7 percent from June 2011. Sales have risen every month for the last year in RE/MAX's national housing report. In fact, for five straight months, sales and prices have both increased on a monthly and annual basis.
Tue, Jul 17, 2012
National median list prices have been on the rise since the beginning of the year and now stand at $195,000, up 2.68 percent on a year-over-year basis, according to the June Realtor.com Trend Data released today. Of 146 markets covered by Realtor.com, while list prices increased in 101 markets, held steady in 26 markets, [...]
Sat, Jul 14, 2012
As sales pick up, so are home improvement expenditures. But the customers aren't new owners. They are sellers who are learning that spending a little to make a house more attractive in a buyer's market can pay off handsomely.
Wed, Jul 11, 2012
The disparity between foreclosure inventories in states where a court order is required to foreclose and non-judicial states is growing dramatically, reaching 2.5 times higher in judicial states
Thu, Jul 5, 2012
Though listing prices have risen modestly in four of the past five months, rent hikes are still outperforming home price increases in the majority of major rental markets.
Mon, Jul 2, 2012
Home prices nationwide increased by 2.0 percent in May 2012 compared to May 2011 and on a month-to-month basis increased by 1.8 percent in May 2012 compared to April 2012, according to the CoreLogic Home Price Index. The May 2012 figures mark the third consecutive increase in home prices nationwide on both a year-over-year and month-over-month basis.
Thu, Jun 28, 2012
Even though 92 percent of property managers report rents are rising or the same as they were a year ago, property managers are attracting residents more easily than a year ago.
Thu, Jun 28, 2012
In Mirage Mills, we've seen it all when it comes to the housing mess. Entire neighborhoods are so run down you would think Home Depot went out of business. Our kids think "bank owned" is an invitation to invite their friends to a weekend blow-out and trash a vacated house. The black market in copper stripped from hot water pipes and gutters is a major source of local employment. They don't call my town the Chernobyl of American real estate for nothing.
Mon, Jun 25, 2012
Widespread shortages in housing inventories, especially in states that have experienced large price declines since 2006, are reducing the time homes for sale are spending on market, especially move-in ready foreclosures (REO) .
Wed, Jun 20, 2012
In light of the tremendous losses in equity homeowners have suffered over the past six years and the continued uncertainty surrounding the housing market, the economics of home ownership will make sense only if equity can be protected, Scott Ryles, CEO of Home Value Insurance Company, told the nation's leading real estate journalists attending the 46th Annual Meeting of the National Association of Real Estate Editors.
Thu, Jun 14, 2012
Last year only about a third, 35 percent, of single family rentals made a profit on their rental income. The 3.8 million that lost money or broke even saw their owners' dreams of a steady, annual rental income evaporate into the ether.
Wed, Jun 13, 2012
My real estate agent, Bea Meriwether, is one of those real estate people who thrived in the days when the business was all about personality and people skills, like selling houses face-to-face and negotiating like a poker star. She still bakes chocolate chip cookies just to scent the air at open houses and carries an extra hanky for teary sellers saying good-bye to the family home.
Fri, Jun 8, 2012
This month's median asking price of properties listed for sale in 54 markets hit the highest level since July 2010, the final month of the homebuyer tax credits. This month's national median asking price, $238,118, is 2.8 percent over a year ago and 0.4 percent higher than last week.
Mon, Jun 4, 2012
Every Friday morning my real estate team-Bea Meriwether, real estate agent and Earnest S. Crowe, mortgage guy-meets for coffee at the Deli Delight in what's left of downtown Mirage Mills, the Chernobyl of American real estate and the epicenter of the foreclosure crisis.
Mon, Jun 4, 2012
Record low mortgage rates are failing to generate stimulate mortgage applications for home purchases, which are down 3.9 percent below last year's level. As a result, last week the Mortgage Bankers Association lowered its 2012 estimate for home sales.
Sat, Jun 2, 2012
Fitch Ratings" outlook for U.S. residential real estate prices has improved slightly in recent months, but the authoritative ratings service still sees no bottom to declining housing prices until late 2013.
Fri, Jun 1, 2012
FHA foreclosures rose 73 percent in April, driven primarily by defaults of loans made in 2008 and 2009 vintage loans, raising new questions about the solvency of the popular government program, which accounts for about a third of all new mortgages.
Tue, May 29, 2012
All three headline Case-Shiller composites fell to new post-crisis lows in the first quarter of 2012, wiping out all price gains realized since prices peaked in 2006, a decline of approximately 35 percent through March 2012.
Tue, May 22, 2012
Like housing markets overall, the market for luxury homes is growing tighter as the spring buying progresses. Though still a buyer's market, the ILHM Luxury Housing Report for last week shows a pattern of rising prices and fewer days on market since the first of the year.
Sat, May 19, 2012
Whoever said ignorance is bliss sure knew what he was talking about, especially when it comes to mortgages. The less I know about my mortgage, the happier I am.
Fri, May 18, 2012
Eleven of the nation's 20 largest metro areas based on population documented annual increases in foreclosure activity, led by the Florida cities of Tampa (59 percent) and Miami (38 percent). Other cities with increases included St. Louis (29 percent), Chicago (26 percent), Philadelphia (24 percent), and Atlanta (21 percent).
Fri, May 18, 2012
Closed sales were 4.1 percent higher in April than a year earlier, continuing a ten month run of year-over-year sales increases in the 53 markets tracked by the RE/MAX National Housing Report.
Thu, May 17, 2012
The national for-sale inventory of single family homes, condos, townhomes and co-ops fell to the lowest level since 2007 in April, providing further evidence that the inventory draw down is continuing into the spring home buying season.
Wed, May 16, 2012
This year homeowners are paying, on average, $128 more per year for new homeowners insurance policies than they were at the beginning of the year. In some states, rates are up as much as 39 percent.
Tue, May 15, 2012
Pro Teck Valuation Services' May HomeValueForecast.com Update has some good news for many metro areas hardest hit by price declines may be recovering due to increasing home sales and reduced inventories of homes, including Midwestern Rust Belt markets like Detroit, Peoria, and Troy, MI.
Mon, May 14, 2012
So I was reading in the newspaper that now there's a government program where I can refinance and get a cheaper rate even if I'm deeper underwater than the Titanic. Which I am.
Fri, May 11, 2012
Short sales, once a rare event in local real estate market, today are nearly as prevalent as foreclosures as lenders seek to avoid adding to their foreclosure inventories and troubled homeowners opt for a faster way out of default. (See Banks and Investors Learn to Love Short Sales).
Thu, May 10, 2012
When the bottom arrives in the mythical national housing market some time later this year, how far will we be from the heady peaks of the real estate boom when prices were at their zenith?
Thu, May 10, 2012
Standard and Poor's Rating Services' estimates that the time it will take to clear the supply of distressed homes, or the shadow inventory, on the U.S. market is now 46 months. For the city with the greatest estimate of the time it will take to clear its inventory of foreclosures and short sales, New York City, it will take 202 months, or nearly 17 years.
Sun, May 6, 2012
Neighbors are like apple cider. When you first move in, they're nice and sweet. That's because they will want to borrow something someday, or ask you to take in the mail when they go on vacation, or baby sit in a pinch. They act friendly but they are really just checking you out.
Wed, May 2, 2012
March foreclosure starts increased a modest 8.1 percent in March over February while foreclosure sales continued to behave somewhat erratically, dropping to their lowest level since December 2010, and most sharply in non-judicial states.
Tue, May 1, 2012
Two national market reports released today carried a singular message. The nation's heartland is now the focus for price declines, no longer the South or West. From Milwaukee to Columbus, REO foreclosures are increasing and prices are falling.
Mon, Apr 30, 2012
Don't you think it's about time we had an expert homeowner? Everybody else has experts. We have expert economy-guessers with batting averages lower than a Little Leaguer and mortgage experts who sold loans that exploded like time bombs or put people in houses they couldn't afford. We have expert real estate agents who can make any online listing make a house look like a palace with videos, color photos and crafty staging. In Washington, we have expert policy wonks who can send real estate markets soaring or crashing with a single confusing regulation. Welcome to a new weekly column by Homer Guthrie.
Fri, Apr 27, 2012
Mirroring the uneven economic recovery, the housing market is expected to move in a slow, gradual upward path in 2012, while encountering its share of speed bumps along the road, according to economists participating in yesterday's National Association of Home Builders (NAHB) construction forecast webinar on the housing and economic outlook.
Fri, Apr 27, 2012
Though optimism is spurring new multifamily construction, access to capital is handcuffing new construction, especially in secondary and tertiary markets.
Wed, Apr 25, 2012
Cleaning and decluttering will garner sellers a 403 percent return on their investment when they sell their homes this spring compared to a 293 percent return for electrical and plumbing upgrades and 196 percent for staging.
Wed, Apr 25, 2012
Atlanta had the only double-digit negative annual price decline falling 17.3 percent below February 2010 in the latest S&P/ Caser-Shiller Home Price Index.
Fri, Apr 20, 2012
The market share of foreclosures and short sales have fallen 27 percent from a year ago, pulling down March overall existing home sales 2.6 percent as inventories of foreclosures and short sales suddenly declined last month.
Tue, Apr 17, 2012
Most of markets with the highest median year-over-year list price increases in March also experienced the largest reductions in their for-sale inventories and were among the hardest hit by the foreclosure crisis.
Wed, Apr 11, 2012
Nearly half of lenders participating in a recent FICO survey expect more homeowners to elect to default on their mortgages this year than last.
Mon, Apr 9, 2012
Some 244 lawsuits were tracked in Mortgage Daily's fourth-quarter 2011 Mortgage Litigation Index the highest number since the index's 2007 launch.
Fri, Apr 6, 2012
The list of housing markets showing measurable improvement expanded by just two for a total of 101 "improving" metropolitan areas in April after adding just one market in May.
Wed, Apr 4, 2012
In a strong sign that the housing recovery has begun, the national median price of full-value homes that are not foreclosures or short sales rose each of first two months of the year.
Tue, Apr 3, 2012
Last month both foreclosure starts and sales suddenly retreated, declining quickly on a month-over-month basis after a sharp increase in January.
Fri, Mar 30, 2012
Investors bought 1.23 million homes last year, accounting for 27 percent of all existing homes bought in America, the greatest annual market share for investors ever recorded.
Tue, Mar 27, 2012
S&P/Case-Shiller's two price indices fell to levels 3.9 percent and 3.8 percent below those of year ago and both composites saw price declines of 0.8 percent in the month of January. Eight MSAs posted new all-time lows.
Mon, Mar 26, 2012
Very few home buyers with credit scores below 620 are getting mortgages these days and but more are putting down less than 20 percent.
Mon, Mar 19, 2012
Real estate professionals have become more optimistic about the direction of home values than homeowners, according to the latest HomeGain National Home Values Survey.
Thu, Mar 15, 2012
The latest data from RealtyTrac and CoreLogic makes it official. Driven by the still suffering economy, Foreclosures are marching northward from their traditional haunts in the recovering Sand States, invading markets that have seen relatively few foreclosures to date.
Thu, Mar 15, 2012
For the first time in 18 months, home prices in the 53 cities surveyed by the RE/MAX National Housing Report in February rose by 1.1 percent over February 2011. As an early spring drew buyers to market, home sales were even higher, up 8.7 percent from one year ago. Attitudes towards homeownership also improved 8 percent, according to a new survey by Prudential.
Tue, Mar 13, 2012
National monthly rents declined slightly in December, falling 0.3 percent to $1,218, though from January 2011 to January 2012 median rents rose 3 percent on the year.
Mon, Mar 12, 2012
For the first time in six years, sellers' asking prices tracked by the Department of Numbers have gone positive on a year-to-year basis, another sign that the housing economy is slowly healing itself.
Wed, Mar 7, 2012
Prices fell 1 percent in December?the sixth consecutive month of price decreases? to a level not seen since December 2002.
Wed, Mar 7, 2012
In another sign that the nexus of national foreclosure activity is shifting to the Midwest, Illinois led the nation in price declines in January with an 8.7 percent plunge in median sale price from a year ago. Next biggest losers were Nevada (-8.0 percent), Delaware (-7.9 percent), Alabama (-7.7 percent) and Georgia (-7.5) percent.
Tue, Mar 6, 2012
Foreclosure sales spiked in the first month of 2012. Sales in non-judicial states outpaced judicial by over three to one, exacerbating the backlog of foreclosures soon to reach local real estate markets in states where court orders are required to foreclose on homes.
Mon, Mar 5, 2012
Low mortgage rates and monetary policy lowered the UFA Default Risk Index for the first quarter of 2012, which has now reached its lowest level since 2005, before the housing bust.
Fri, Mar 2, 2012
Moderate income to low income homeowners are twice as likely to be underwater on their mortgages, owing more than their homes are worth, making them much more vulnerable to default than those who bring home a bigger paycheck.
Wed, Feb 29, 2012
Confidence in the 2012 housing market among Realtors is increasing and some 67 percent expect prices to rise in the months to come. However, the overall jobs and economic situation continues to have a major, negative impact on the residential markets.
Tue, Feb 28, 2012
All three Case-Shiller price indices ended 2011 at new lows since the housing crisis began in mid-2006, wiping out all price gains achieved since 2002.
Wed, Feb 22, 2012
Pro Teck Valuation Services' February HomeValueForecast.com shows the majority of U.S. Core Based Statistical Areas (CBSAs) demonstrating more positive than negative market trends despite weak or soft status for top U.S. CSBAs.
Mon, Feb 20, 2012
For the first time in three years, not one project makes a profit in the latest annual national survey of remodeling and repair project costs versus resale values. The average return on remodeling expenditures is lower than last year.
Fri, Feb 17, 2012
Last year's home buying season continued through the balance of 2011 and though January, according to RE/MAX, which reported yesterday that sales have risen seven straight months.
Tue, Feb 14, 2012
Compared with whites, greater shares of both black and Hispanic young adults say owning their own home is among their top priorities. While 25 percent of blacks and 26 percent of Hispanics say owning a home is of the highest importance in their lives, only 12 percent of whites say the same.
Mon, Feb 13, 2012
Homeowners are ready to make 2012 a banner year for remodeling and the latest cost-for-value research suggests that getting the most bang for every buck is more important than ever.
Thu, Feb 9, 2012
With rental vacancy rates at their lowest levels in 10 years, a review of TransUnion's proprietary rental screening database found that rental prices remained about the same between the fourth quarters of 2010 and 2011.
Wed, Feb 8, 2012
Despite predictions that home prices are close to bottom, the leading provider of home equity protection sees its customer base exploding in 2012 because of changing consumer attitudes towards homeownership.
Tue, Feb 7, 2012
Have lenders turned the corner on lending standards in response to public and marketplace pressure?
Mon, Feb 6, 2012
Home prices are continuing their slide into the new year as January home prices fell to 2.6 percent below where they were a year ago, a decline from December, when prices were 2.1 percent below December 2010.
Wed, Feb 1, 2012
The Federal Housing Finance Agency (FHFA) today invited Investors interested in purchasing pools of Fannie Mae, Freddie Mac and FHA foreclosures in the nations hardest-hit metropolitan areas with the requirement they rent them for a period of year to pre-qualify.
Tue, Jan 31, 2012
Ten of the nation's local real estate markets that suffered from high foreclosure rates in recent years, eight of which are in Florida, are leading America's housing sector towards a general recovery, according to Realtor.com's Top 10 Turnaround Town Report, fourth quarter 2011.
Fri, Jan 27, 2012
Mortgage originations plunged 10.1 percent from November to December, continuing a decline from 2011's September peak. At the same time, loans originated over the last two years have proved to be some of the best quality originations on record.
Thu, Jan 26, 2012
First-time home buyers are an ever-shrinking segment of the real estate market. In December, The percentage of first-time buyers tied the lowest level ever recorded in the National Assocition of Realtors' Realtors Confidence Index this year at 31 percent of the market.
Tue, Jan 24, 2012
Sales are typically slow in winter, but this January is proving especially sluggish for luxury homes even though sales for all existing homes have increased through the last three months of 2011.
Mon, Jan 23, 2012
In another sign that buyers are having an increasingly difficult time getting mortgage financing, nearly one out of three home sales in December went to buyers paid all cash.
Tue, Jan 17, 2012
December home sales unexpectedly rose 5.7 percent over November, ending the year with the 6th consecutive month to show a year-over-year sales increase. Sales were 1.1 percent higher than a year ago, RE/MAX reported.
Tue, Jan 10, 2012
Top producers will continue to be on the move this year as the lending industry transitions form refinancings to purchase mortgages, according to Hammerhouse LLC, a national recruiting and strategic growth firm for the financial services industry.
Tue, Jan 10, 2012
For the past six months, one consumer survey after another has tracked increasingly negative expectations about home prices in the year to come while some expert forecasts were more positive. Now, Fannie Mae has turned the tables.
Mon, Jan 9, 2012
Home prices this year cease their decline and gain a slight 0.2 percent across all markets as more and more individual markets stabilize in the months to come.
Fri, Jan 6, 2012
The steady decline in new delinquencies stopped in November and progress in reducing the volume of future foreclosures has hit a wall.
Tue, Jan 3, 2012
Even though the weather was mild across most of the nation in the last week of December, sales of luxury homes entered a deep freeze and time on market soared for homes. As the new year begins, inventories are lower and time on market is higher than they were during all of 2011.
Mon, Jan 2, 2012
Slightly over half of all homeowners say their homes are worth more today than they were when they bought them, according to a new national survey conducted just before Christmas.
Sun, Dec 25, 2011
Expect at least another full year of falling home prices before things get better. That's the bottom line from Fannie Mae's economists in their final forecast for 2011.
Fri, Dec 23, 2011
The largest banks and federal savings associations created a 21.1 percent increase in new foreclosures during the third quarter when they lifted voluntary moratoria implemented in late 2010.
Thu, Dec 22, 2011
Just three weeks after Congress restored $40 million in its budget for homeownership counseling, a new study by the Urban Institute reports that counseling greatly increased the ability of homeowners to stay current once they cured a serious delinquency or foreclosure.
Tue, Dec 20, 2011
Despite solid demand for home purchases overall, a glut of distressed properties is continuing to put downward pressure on home prices, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
Tue, Dec 20, 2011
Sales in November were 8.1 percent higher than a year ago but year over year sales have slipped from increase of 18 percent increase in August and 13.1 percent in July.
Mon, Dec 19, 2011
Americans' feelings of financial security are at their highest level in six months, according to Bankrate.com's December Financial Security Index, which was released today. The overall index jumped 3.3 points to 95.8, the highest level since June.
Mon, Dec 19, 2011
As the year winds down, a growing number of homeowners are 30 days or more behind in their mortgage payments. Delinquency rates, which have been in decline for months, are creeping up again.
Thu, Dec 15, 2011
Foreclosure filings decreased 3 percent from October and 14 percent decrease from November 2010. One in every 579 U.S. housing units with a foreclosure filing during the month, according to RealtyTrac's Foreclosure Market Report.
Tue, Dec 13, 2011
While activity increased on mortgage fraud cases being prosecuted in California, New York also saw acceleration in fraud and fraud activity in Minnesota zoomed, Florida's mortgage fraud index topped the list for the Third-Quarter 2011 Mortgage Fraud Index from MortgageDaily.com.
Mon, Dec 12, 2011
The UFA Default Risk Index for the fourth quarter of 2011 edged lower to 131 from last quarter's revised 133, which has suggests that residential mortgage default and prepayment risks are continuing their return to normalcy.
Thu, Dec 8, 2011
Consumer sentiment on housing expectations is stabilizing as the year winds down and consumers are adopting a "wait and see" attitude towards 2012, according to Fannie Mae's November National Housing Survey.
Wed, Dec 7, 2011
After rising slightly to a rate of 6.02 percent in the first quarter, 60-day mortgage delinquencies will resume their decline, falling to about 5 percent of all performing mortgages by the end of next year
Wed, Nov 30, 2011
Even as consumer confidence in the economy as a whole brightens, hopes for a housing recovery are growing increasingly gloomy.
Tue, Nov 29, 2011
In a time of 4 percent mortgages and programs like HARP designed to help homeowners refinance at lower rates, more than 15 million homeowners who are underwater on their mortgages are paying rates higher than 5 percent.
Mon, Nov 28, 2011
Young Americans under 30-a prime age group for first-time home buying-are feeling considerable better about their financial picture than they did a year ago, according to a major new study from Bankrate.
Tue, Nov 15, 2011
In another sign that more foreclosures are on the way, defaults on first mortgages rose last month as defaults on other credit categories declined.
Mon, Nov 14, 2011
Prices were down 3.8 percent from August last year and based on partial data for September, sales will further decline approximately 1.1 percent to come, according to the latest Lender Processing Services' Home Price Index.
Mon, Nov 14, 2011
First-time home buyers fell to a 37 percent market share in the past year from a record high 50 percent in 2010 as down payments rose and buyers found getting a mortgage to be more difficult than in the past.
Fri, Nov 11, 2011
Foreclosure default notices are on the rise as the economy continues to take its toll and lenders become more aggressive as they move past the processing problems that have plagued foreclosures for more than a year.
Wed, Nov 9, 2011
We're going to have to wait a few more months for an upturn in housing prices. Down 5.9 percent through the second quarter of this year, home prices will decline an additional 3.6 percent until the middle of next year before they recover 2.4 percent from the second half 2012 through the first half 2013.
Tue, Nov 8, 2011
Four factors - uncertainty about future prices, concern about the economy and jobs, concerns about their credit and difficulty saving for down payments - are causing buyers to delay their purchases, dramatically reducing near-term demand.
Tue, Nov 8, 2011
For the fifth month in a row, Americans in October expected home prices to decline over the next 12 months in Fannie Mae's monthly consumer survey.
Tue, Nov 8, 2011
A lower rate of foreclosure repossessions coupled with relatively flat home values caused negative equity to rise in the third quarter with 28.6 percent of single-family homeowners with mortgages underwater compared to 26.8 percent in the second quarter, according to Zillow's third quarter Real Estate Market Reports.
Mon, Nov 7, 2011
The five year long real estate depression has taken such a toll over homeowners that they fear falling values four times more than fires and they are twice as likely to monitor local prices than their own cholesterol levels.
Thu, Nov 3, 2011
Last September a HomeGain survey of real estate professionals and homeowners detected a grass roots souring on the price outlook for the coming six months, even though many experts predicted a quicker recovery from the post-tax credit hangover.
Mon, Oct 24, 2011
With an unemployment rate of only 7.3 percent in August, it's no secret why Austin is on everyone's list of top recovering housing markets.
Mon, Oct 24, 2011
Backlogs in approving mortgages are causing significant delays in home purchase closings, according to the latest Campbell/Inside Mortgage Finance HousingPulse monthly tracking survey of real estate market conditions.
Thu, Oct 20, 2011
Florida's existing home and existing condo sales continued their year-long upswing in September, according to the latest housing data released by Florida Realtors®. Existing home sales increased 10 percent last month with a total of 15,036 homes sold statewide compared to 13,723 homes sold in September 2010, according to Florida Realtors.
Wed, Oct 19, 2011
With rents rising faster than last year, the picture for residential real estate investors is getting even better than it already was as a result of once-in-a-generation prices and low interest rates, according to the founder of the leading Internet platform for investors and real estate professional.
Sat, Oct 15, 2011
Heightened economic uncertainty and lower loan limits contributed to a decrease in California home sales in September. However, September home sales posted higher on a year-to-year basis for the third consecutive month and remain at stable levels.
Fri, Oct 14, 2011
The latest national housing report from RE/MAX is the second price report to show national average prices down modestly from last September, confirming fears that markets have not fully recovered from the second dip in prices during the first quarter of this year.
Wed, Oct 12, 2011
Even though purchase mortgage applications perked up last week, anemic was the word used by the Mortgage Bankers Association to describe the outlook for mortgage originations next year, including purchase originations, which it projects will grow only 3 percent in 2012 after they plunge 15 percent this year.
Thu, Oct 6, 2011
Home prices through August are down 4.4 percent on the year according to the most depressing price report issued since the double dip in the first quarter.
Wed, Oct 5, 2011
Driven by a wave of FHA loans, applications for mortgages to purchase a home reached their highest level since May last week, but they still trail the 2010 application rate by more than 34 percent.
Mon, Oct 3, 2011
Effective rent growth is significantly higher so far this year than it was at this time in 2010, and at this pace rents may rise more in 2011 than they have since 2005.
Mon, Oct 3, 2011
Mortgage-related failures among lenders are down 42 percent this year from this point in 2010. The improvement is entirely due to fewer failures among federally chartered banks; mortgage-related losses contributed to the same number of nonbank mortgage lenders and credit union failures this year as last
Tue, Sep 27, 2011
Through July, home prices registered a fourth consecutive month of increases up 0.9 percent in July over June.
Mon, Sep 26, 2011
Litigation over the foreclosure process reached its highest level in the second quarter than in any quarter since MortgageDaily.com's Mortgage Litigation Index was introduced in 2007.
Mon, Sep 26, 2011
Processing delays have taken their toll on first-time homebuyer interest in short sales, which now account for more than one of every six house sales, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
Thu, Sep 22, 2011
We're not out of the woods yet and the market trends tell us we're settling in for a long, cold winter.
Thu, Sep 22, 2011
The end of the spring-summer buying season is taking its toll on luxury properties. Median days on market for homes selling over $500,000 has fallen 40 percent since the peak of the season in May.
Wed, Sep 21, 2011
California home sales and median price are predicted to improve only slightly in 2012, as the continuation of the tepid economic recovery, uncertainty about the future, and funding challenges for residential mortgages are expected to keep the market moving sideways.
Wed, Sep 21, 2011
The home price picture for this year is shaping up to be a little better than it looked June, according to the September 2011 home price expectations survey of 111 leading housing economists and experts sponsored by MacroMarkets LLC.
Mon, Sep 19, 2011
Homeowners are growing even more pessimistic about the potential short- and long-term values of their homes.
Thu, Sep 15, 2011
Foreclosure filings rose 7 percent in August, but they are still down nearly 33 percent from August 2010. Foreclosure activity on a year over year basis now has been down for 11 straight months.
Wed, Sep 14, 2011
Nearly half the nation's homeowners now fear that home values will decrease further this year, up from 30 percent in the second quarter.
Wed, Aug 31, 2011
The percentage of mortgages in default more than 60 days in Fannie Mae's portfolio have fallen to the lowest level in two years, another sign that defaults are slowly but steadily declining as more homeowners pay their mortgages on time.
Tue, Aug 30, 2011
Home prices rose in the second quarter almost as much as they fell in the first, but prices at the end of June still trailed June 2010 levels-which still reflected demand generated by the tax credit boomlet.
Thu, Aug 25, 2011
It's official! With the nation on the brink of a double dip recession, mortgage delinquency rates, especially 30-day delinquencies-- have shifted course and they are trending up again.
Mon, Aug 22, 2011
While year-over-year national median prices fluctuate monthly by ten percent or more, upscale homes have settled down.
Mon, Aug 22, 2011
Anemic demand from owner-occupant homebuyers has forced investors to rent out about half of the homes they purchase -- as opposed to renovating and flipping the properties.
Thu, Aug 18, 2011
Florida existing single family home and existing condo sales increased 12 percent last month over sales a year ago and prices were stable.
Wed, Aug 17, 2011
Though the national delinquency rate is about percent below the level of a year ago, the inventory of foreclosures yet to be sold is about 10 percent higher.
Wed, Aug 10, 2011
Home sales are down more than normal for this time of year in the Washington, DC market but are still strong when compared to July 2010. Prices fell from a three year high in June.
Tue, Aug 9, 2011
Short sales will remain strong for the next several years as foreclosure inventories timelines grow even longer, according to the chief operating officer of Equator, a premier software platform for default servicers.
Mon, Aug 8, 2011
The average rate for a 15-year fixed loan dropped to 3.54 percent last week from 3.66 percent the week before. Freddie Mac said Thursday. That's lowest result since the mortgage buyer began tracking it in 1991.
Mon, Aug 8, 2011
Residential originations by U.S. lenders fell nearly 20 percent in the second quarter, according to the Mortgage Lender Ranking from MortgageDaily.com. The biggest-three lenders fueled the decline, while business was less concentrated at the top.
Thu, Aug 4, 2011
National average home prices in June were still 7.9 percent below a year ago, which was the height of the boomlet spawned by the tax credit. However, prices are still up 4.1 percent over the first quarter.
Fri, Jul 29, 2011
Home buyers are less satisfied today with real estate brokerage services from franchises and seller s more so than they were a year ago. That's the bottom line from J.D. Power and Associates' 2011 Home Buyer/Seller Study.
Tue, Jul 26, 2011
Prices of "normal" homes-those that aren't foreclosures or short sales-are stabilizing and the numbers of future foreclosures are falling. That "sliver of good news for consumer spending" was included in CoreLogic's July report on housing and market trends.