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Housing Forecasts

What’s Wrong With This Picture?

fuzzy-TV

  April is supposed to be the month that real estate agents’ phones ring off the hooks, yard signs sprout like dandelions, buyers line up for showings and offers fall from the sky like cherry blossom petals. Above all, this was to be the spring season when at last all the stars were properly aligned in the real estate galaxy ... Read More »

Shadow Inventory Down 23 Percent, Foreclosure Inventory Shrinks 35 Percent

shadow inventory

The numbers of foreclosures and potential foreclosures have fallen dramatically over the past 12 months as the foreclosure picture rapidly returns to pre-2006 levels.  The decline in foreclosures in the pipeline has important ramifications for real estate investors and local markets that are returning to health as they recover from the foreclosure flood that produced 4.9 million foreclosures since 2008. ... Read More »

February Prices: CoreLogic ups the Ante

poker-hand

Despite slow sales and paralyzing storms in much of the nation, February year over year prices rose to 12.2 percent, an increase of two points over January and monthly prices rose 0.8 percent, CoreLogic reported today. Home prices nationwide, including distressed sales, rose 12.2 percent in February 2014 compared to February 2013, the 24th month of consecutive year-over-year increases in ... Read More »

Rising Prices Seen Driving Investors Out

banker

The salad days of low price tier home sales (homes selling for $95,000 and less) that fueled the recovery over the last two years are ending and with them, the legions of investors that have led the nation’s housing recovery. “The Investors Did Their Job,” headlines Clear Capital’s latest market report.  “Can traditional home buyers take it from here?” Deeply ... Read More »

Pocket Listings Pop up in Chicago

pocket_listing

Once solely the province of high end and celebrity markets like the San Francisco Bay area, Beverly Hills and Malibu, pocket listings now are increasingly popular in lower brow parts of the Chicago market, according to local RE/MAX broker/owners. The broker/owners of RE/MAX offices in Chicago, Buffalo Grove, Rockford and Belvidere, Ill. report an upswing in requests from clients for ... Read More »

Sagging Sales: It’s Not Just the Weather

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It’s hard to build, buy or sell a home in when ice coats the drive and below freezing winds discourage roof inspections.  There’s no doubt this year’s endless winter have curbed construction and sales.  However, sagging sales are not just a function of the nasty weather that will melt away with the first warm days. If that were the case, ... Read More »

What a Housing Recovery Looks Like

realtytrac

It’s official!  All but four percent of the nation’s counties are better off today than they were during the foreclosure floods of four years ago, but only 8 percent of county housing markets are better off than they were eight years ago in 2006 before the housing price bubble burst, according to a new analysis by RealtyTrac. The analysis also ... Read More »

Plunging Sales Prop up Inventories

winter

Lower than normal sales for this time of the year due in part to the winter’s storms are raising concerns about the recovery and lowering lenders’ expectations for 2014 originations.  But they may also be having a beneficial side effect.  Fewer sales are taking some of the pressure off of low inventories that are in the process of rebuilding for ... Read More »

Flat Fourth Quarter Prices Kept Owners Underwater

Couples performing underwater at Weeki Wachee Springs near Brooksville

Flat prices at the end of the year brought to a halt the steady progress that has been made since 2009 to free homeowners from the grips of negative equity.  As a result, some 6.5 million properties are still frozen in place and their owners vulnerable to foreclosure. Some 4 million homes returned to positive equity in 2013, bringing the ... Read More »

CoreLogic: Prices Warmed up in January and Will Rise More in February

15971-Mild_Winte

Prices in January reached an increase of 12 percent year over year up 0.9 percent over December, despite the record winter weather. Prices will rise again in February, according to Corelogic’s Pending HPI.At the state level, including distressed sales, Louisiana, Nebraska and Texas surpassed their previous home price peaks in January 2014. In all, 22 states and the District of ... Read More »