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Recovery Signals

One State Leads the Foreclosure Marathon

Florida-two

As the Foreclosure Era enters its final months, completed foreclosures are increasingly concentrating in a handful of states and one state reports three times as many as the next runner-up.  Regions of the nation have virtually returned to normal as their foreclosure inventories dry up and are not refilled. Five states account for almost half of all completed foreclosures in ... Read More »

Mixed Signals: Improving Economy is Not Helping Housing

mixed-signals

  Most housing markets remain weak despite declining mortgage delinquencies, improving local employment, house price gains and attractive mortgage rates due to weak home purchase mortgage applications. The latest data from Freddie Mac’s Multi-Indicator Market Index(SM) (MiMi(SM)) showing mixed signals for the U.S. housing market: The national MiMi value stands at -3.01 points indicating a weak housing market overall with ... Read More »

Texas and West Lead the Parade to Positive Equity

COWBOY

In the first quarter, Texas had the highest percentage of mortgaged residential properties in an equity position at 96.7 percent, followed by Montana (96.3 percent), Alaska (95.7 percent), North Dakota (95.7 percent) and Hawaii (95.6 percent) according to the latest report from CoreLogic. CoreLogic said more than 300,000 homes returned to positive equity in the first quarter of 2014, bringing ... Read More »

CoreLogic: Prices to Rise Deep into 2015

ballons

Home prices are projected to increase 1.0 percent every month from until May 2014, reaching an 6.3 percent year-over-year increase (+/- 1.5 percent) from April 2014 to April 2015, according to the latest forecast by the CoreLogic Home Price Index. excluding distressed sales like foreclosures and short sales,  prices are expected to rise between 0.8 percent month over month and ... Read More »

Homeowners Get Whole Faster When the Water is Deeper

Couples performing underwater at Weeki Wachee Springs near Brooksville

One of the best measures of the housing recovery is the steady progress than is being made in markets across the country to return home values to their peak values seven or eight years ago.  While sales sag despite retreating interest rates and inventories provide just enough listings to prevent last year’s price eruption, homeowners are leaving negative equity and ... Read More »

Freddie Mac: Housing Markets Lay an Egg

flikr

Housing markets overall are largely flat compared to a month ago and especially since last year at this time. Of those markets that are improving or experiencing a stable range of housing activity, most are benefiting from the energy boom taking place along the country’s mid-section. Freddie Mac’s Multi-Indicator Market Index (MiMi) reports that: The national MiMi value stands at ... Read More »

Why Won’t Buyers Make the Leap?

fear

Halfway through the spring buying season, mortgage applications fell 1.2 percent for the week ending May 21 and the  unadjusted Mortgage Bankers Association’s Purchase Index fell even more.  It was down 2 percent in just one week–15 percent lower than it was a year ago at this time. Such a decline in borrowing to buy a home in the third ... Read More »

Will the South Rise Again?

SC Assn of Realtors

A few eyebrows raised when the latest FHFA House Price Index (HPI) reported the Charleston market led the nation in price increases during the first quarter (See South Carolina Plays Catch Up).  Charleston is not the only southeastern market to join the housing recovery. According to the latest monthly poll of southeastern broker and builder contacts by the Atlanta Federal ... Read More »

April Sales Show Some Life

Nicholas Tonelli

April sales were 10.9% better than they were in a rather dismal March, but they were still slower than they were a year ago by 7.8%, according to RE/MAX’s monthly  market report. In March, all 52 surveyed metro areas reported monthly sales increases, a trend continued in April with 50 of the 52 metros experiencing sales increases from the previous ... 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 »