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Housing Data

Zillow: Prices Peaked

peaked

    Appreciation in home values is slowing definitively after nearly two years of accelerating year-over-year growth, according to the third quarter Zillow® Real Estate Market Reports. Homebuyers who have been priced out of hot markets will welcome the cooling off. The rate of annual home-value appreciation peaked at 8.1 percent in April and has fallen in every month since. ... Read More »

August Sales Took a Dip

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Nothing like a plunge in the pool to bring the housing recovery back to reality. Each sales report and forecast paints a picture of a declining market as the spring/summer market faded away.  Now there’s a growing consensus that existing home sales will fall below the magic 5 million number for only the second time in the past eight years. ... Read More »

Are Inventories nearing the Danger Zone?

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Prompted by two years of steadily rising prices, inventories are reaching levels higher than they have been in two and a half years according Zillow. Inventory shortages have plagued real estate markets for much of that time, but the latest data suggests that the pendulum may have swung too far in the other direction.  Zillow reported that national for-sale inventory ... Read More »

Were July Sales Up or Down?

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  Two major market reports left real estate professionals shaking their heads this week over the latest sales data.  RealtyTrac and NAR reported July sales headed in opposite directions as the buying season closed up shop for the duration. Sales of residential properties were down 3 percent from June and down 12 percent from a year ago — the third ... Read More »

Case-Shiller Still Stuck

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  The June Case-Shiller consensus reports an 8.4% year-over-year increase in the Composite 20 index but the Zillow forecast is for the Composite 20 to slow the increase 8.1% year-over-year, and for prices to be unchanged month-to-month. Zillow’s forecast for Case-Shiller’s July 2014 data cuts the non-seasonally adjusted 20-City Composite Home Price Index increase to 7.0 percent and the 10-City ... Read More »

Sales Rise but Trail Last Year

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Existing-home sales increased 2.4 percent in July to a seasonally adjusted annual rate of 5.15 million ibut remain 4.3 percent below the 5.38 million-unit level from last July, which was the peak of 2013. The median existing-home price2 for all housing types in July was $222,900, which is 4.9 percent above July 2013. This marks the 29th consecutive month of ... Read More »

Price Increases Cool Down in the Summertime

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Home prices nationwide, including distressed sales, increased 7.5 percent in June 2014 compared to June 2013 and rose 1 percent over May, setting new highs for 12 states.  Despite low rates, investor purchases and tight supplies, prices are expected to slow down to a .07 percent monthly increase in July. A total of 12 states, plus the District of Columbia, ... Read More »

Homeownership Falls to 19 Year Low

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  The share of Americans who own their homes was 64.7% in the second quarter, down from 64.8% in the previous three months, the Census Bureau said in a report today. The rate matched the level in the second quarter of 1995. The homeownership rate of 64.7 percent was 0.3 percentage points (+/-0.4)* lower than the second quarter 2013 rate ... Read More »

Apartment Rents Rose 3.6 Percent in First Half, Occupancy Tops 95 Percent

The Apartment (1960)

  The national apartment market maintained its strong 2014 performance in June, as year-to-date effective rent growth continued to exceed that of any other post-Great Recession year, according to Axiometrics, the leading provider of apartment market research and data. June’s concession rate of 0.78% was the lowest in at least five years, annualized effective rent growth of 3.6% was the highest ... Read More »

Sales Surge, Still Trail Last Year

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Existing-home sales rose strongly in May as did new home sales, which rose in May by greatest monthly increase in 22 years.  Yet sales still trailed the torrid sales pace of a year ago. Total existing-home sales rose 4.9 percent to a seasonally adjusted annual rate of 4.89 million in May from an upwardly-revised 4.66 million in April, but remain ... Read More »