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Author Archives: Steve Cook

CoreLogic Kicks off 2015 in Style

fred astaire

CoreLogic reports shows that home prices nationwide increased 5.7 percent in January 2015 compared to January 2014. This change represents 35 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide increased by 1.1 percent in January 2015 compared to December 2014*.  Some 27 states and the District of Columbia are at or within 10 ... Read More »

Flips Flopped in 2014

tippin

Don’t tell the HGTV producers who find audiences for their endless stream of shows devoted to house flipping, but it’s looking like flipping is losing popularity. RealtyTrac® reports that last year flips fell to their lowest market share since 2011.  Some 136,269 U.S. single family homes were flipped in 2014, 5.4 percent of all single family home sales during the ... Read More »

REO’s: They’re B-A-A-A-A-A-ACK

Theyre Baaack

Four years of declining distress sales quietly ground to a halt last year and now real estate owned properties (REOs) have increased steadily for four months in a row, rising to 23.2%, based on a three-month moving average, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. The distressed property share of home sales peaked at 45.5% in March ... Read More »

Real Estate Markets Tiptoe Toward Stability

tiptoe

  Freddie Mac’s proprietary MiMi index, which uses data on mortgage repayments and local economic conditions to track markets against their ‘long-term stable range”, reports that national MiMi value stands at 74.9, indicating a weak housing market overall but showing a slight improvement (+0.37%) from November to December and a positive 3-month trend of (+1.09%). On a year-over-year basis, the ... Read More »

2014 Ended with 39 Percent of Housing Markets Fully Recovered

bounce

As the year ended, 39 percent, or 117, of the nation’s largest 300 markets achieved full price recovery, up 30 percent from the end of 2013. Hundreds of other markets moved closer to full recovery; by December, the average rebound percentage of all 300 markets was 95.85 percent, which was slightly higher than 95.49 percent recorded in November.   Markets ... Read More »

Case Shiller: Maybe They Just Don’t Like December

christmas

Which of the following statements were made today by Standard & Poor’s David Blitzer about the December Case Shiller price indices? “Gains are slowing from month-to-month and the strongest part of the recovery in home values may be over. Year-over-year values for the two monthly Composites weakened and the quarterly National Index barely improved. The seasonally adjusted data also exhibit ... Read More »

Icy Inventories, Diminishing Demand Froze January Sales

snow

Two unfortunate trends combined to spoil January’s existing home sales and raise concerns about the coming spring season.  After a better than expected December, Sales declined in January to their lowest rate in nine months. Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 6.1 percent to a seasonally adjusted annual rate of ... Read More »

Concern over Inventory Shortages Escalates

Leaning Wooden Shack Rear Porch - Golden, Oregon - HDR - Infrared Black & White

A fourth national market report has added to the evidence that winter inventories are extraordinarily—even dangerously—low.  Realtor.com has joined RE/MAX, NAR and Zillow in reporting levels significantly below last year. (See Tight Inventories Propel Prices and Winter Inventories Plant Seeds for Spring Surprises). The realtor.com January National Housing Trend Report shows that inventory has decreased 6.7 percent month over month ... Read More »

Rents Stayed Hot in January

Real Rent Reform

The national apartment market enjoyed its strongest January of the post-recession period last month, recording annual effective rent growth of 4.9 percent and occupancy of 94.6 percent, according to data from Axiometrics. The January 2015 rent growth rate was a slight decrease from the 5 percent recorded in December, but was still the second highest level since August 2011. That ... Read More »

Tight Inventories Propel Prices

REMAX

  Supplies of listed homes in REMAX’s database lit a fuse under January prices, sending pricing soaring 11.2 percent over a year ago.  Inventories were down 10.2 percent and months’ supply fell to 5.2, pushing the 6.0 boundary where markets are out of balance. The dramatic drop in listings tracked by REMAX echoed findings by NAR, Realtor.com and Zillow that ... Read More »