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Housing Markets

Auction.com’s “Nowcast” uses Market Data for Forecasts

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By combining industry data, proprietary company transactional data and publicly available Google Trends data, Auction.com has launched a new report called “Nowcast” to predict home sales as they are occurring. Findings from the first Auction.com Nowcast predict that existing home sales in October will fall between seasonally adjusted averages of 4.967 and 5.380 million annual sales, with a targeted prediction ... Read More »

Tight Credit Chokes Pending Sales

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Pending home sales rose slightly in September and are now above year-over-year levels for the first time in 11 months, according to the National Association of Realtors®.  But NAR’s monthly pending sales repot disappointed observers and underscored the problems facing the housing sector The pending home sales index increased 0.3% after dropping 1% in August, the National Association of Realtors ... Read More »

Seattle: Tale of Two Cities

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Why have lower income neighborhoods been left out of the housing recovery? In an ana;ysis of the Seattle marlket, Pro Teck  Va;uatgion Services describs  how income and access to credit drives home values and why across the country we are seeing strong appreciation in wealthy areas but slower recovery in areas of lower income. Seattle’s median household income is soaring, with ... Read More »

Freddie Mac: Local Markets are Stabilizing, Weakness Overall

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Eight additional metro and state housing markets showed positive momentum in August butFreddie Mac’s Multi-Indicator Market Index® (MiMi) stands at 73.3, indicating a weak housing market overall and showing a very slight decline (-0.19%) from July to August and a 3-month decline of (-0.47%). However, n a year-over-year basis, the U.S. housing market has improved (4.09%). The nation’s all-time MiMi ... Read More »

Zillow: Prices Peaked

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    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 »

Rising Rents Squeeze Renters

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Not so long ago desperate landlords had to offer incentives to get tenants and tenants could find a variety of amenities and extras within their budget.  How life has changed! Two new surveys by national rental sites paint a very different picture of rental living as new construction has failed to keep up demand in the hottest markets and soaring ... Read More »

Falling Prices and Falling Leaves Perk up Sales

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Existing home sales picked up in September, reaching their highest pace on an annualized basis of the year, helped along with a price drop of nearly five percent to launch the fall season. Median price fell from $219,800 in August was $209,700, a drop of 4.8 percent but still 5.6 percent above the levels of a year ago. The price ... Read More »

Fall Inventories Moderate Redfin Prices

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September sales volume declined by 13.7 percent in September from August on Re3dfin even though Inventory increased by 4 percent over August and newly listed homes were up 2.1 percent.  Prices were among the lowest among September market reports to date.  The brokerage hopes for better news in the fourth quarter but doesn’t expect price growth to be higher than ... Read More »

Wells Circles the Wagons

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Growing concern over the faltering housing recovery has inspired an unusual vote of confidence for housing’s fundamentals from two of Wells Fargo’s top economists. In a “special commentary” published in the bank’s web site, senior economists Mark Vitner and Anika R. Khan argue that too much progress has been made restoring growth to the overall economy for the recovery to ... Read More »

Student Loan Debt Consumes Twenty-somethings

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  Student loan debt is consuming the budgets of twenty-somethings at a breakneck pace, mutating their debt profile into unrecognizable ways that stretch their resources and limit their options. A new TransUnion study found that the consumer loan wallet — the composition of loans that people typically carry — has materially changed their imprint on consumers ages 20-29, with the student loan ... Read More »