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Housing Forecasts

Housing Momentum is Grinding to a Halt

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The U.S. housing market is struggling to maintain momentum as housing prices continue to moderate and purchase applications fall. The latest reading of Freddie Mac’s newly updated Multi-Indicator Market Index® (MiMi®) shows a slight decline in the national value through July. The national MiMi value stands at 73.4, indicating a weak housing market overall and showing a slight decline (-0.45%) ... 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 »

Price Increases Stay Strong Through July, Forecasted to Diminish

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Home prices nationwide increased 7.4 percent in July compared to July 2013 but next year at this time, year over year increases will fall to 5.7 percent, CoreLogic forecasted today. On a month-over-month basis, home prices nationwide, including distressed sales, increased 1.2 percent in July 2014 compared to June 2014. However the CoreLogic HPI Forecast indicates that home prices, are ... Read More »

Clear Capital: Welcome Back to 2004

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  National home prices have been nominally unchanged for a lost decade and we’re back to 2004 levels without even accounting for inflation, leaving many homeowners with no more equity than when they bought.  That’s the grim assessment by Clear Capitol in its September market report. If national home price growth continues to diminish, the lost decade will drag out. August home price ... 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 »

Economists in Reuters Poll See Stronger Sales, Weaker Prices in 2015

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The annual pace of existing home sales will likely rise to 5.25 million units in the first three months of 2015 from 5.09 million in the current quarter, according to a Reuters poll of economists But prices next year will be weaker than this year. The S&P/Case-Shiller gauge of property values in 20 metropolitan areas was seen rising just 5.0 ... 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 »

Lag in New Households Retards Recovery

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  Household formation over the past 12 months is less than half of predictions, slowing demand for housing even though it’s increasingly cheaper to buy than rent.  The near term outlook for home sales remains gloomy, according to the latest from Freddie Mac’s chief economist. Household formation still remains very slow and the Census Bureau reports that over the past ... Read More »

Fannie Sees Sales Plunging as Prices Rise

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  Fannie Mae’s economists downgraded their outlook for 2014 sales following the disappointing housing activity seen during the first half of the year but remained bullish on the housing market’s ability to consolidate it price gains this year. According to the forecast in Fannie’s August Housing Forecast, home sales will fall 3.2 percent below last year’s level of 5,519,000 units ... Read More »

Housing Recovery Hits the Brakes Across America

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    Home price increases that were generated in the heady days of spring are drying up quickly in the summer months, increasing the chances that the year will end with the housing recovery’s performance far short of last year’s stellar performance and possibly in the red in more marginal markets than last year. The national median existing single-family home ... Read More »