Thursday , 23 October 2014
REEW Launches New Site! - Latest Articles:
Home » Housing Markets

Housing Markets

Falling Prices and Falling Leaves Perk up Sales

leaves

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

fall_leaves_1_

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

Wells

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

SLD

  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 »

Home Builders Pay the Price for Tight Mortgage Credit

builders

It’s no secret that tight credit is cramping home sales, both existing and new.  Now the extent of the damage to the new homes sector has been assessed and the cost is a lot greater than many assumed. In an August National Association of Home Builders survey asking single-family builders to describe mortgage lending standards in the areas where they ... Read More »

Tightening the Credit Screw Makes Lenders Grim

screwed

A survey of “mortgage industry leaders” by the Collingwood Group, a consulting firm led by several Washington insiders paints a grim picture for the mortgage industry in the year to come. One cause lost business is lending standards that have remained stubbornly high as a result of increased regulation and compliance requirements that have actually served to decrease loan volume ... Read More »

With Equity on the Mend, Homeowners Hit on HELOCs

balloon

Equity is now piling up in homes that have been money pits for years and now their owners are rushing to spend their new found wealthy. In the past two years, housing gains and a strong stock market have restored $14.22 trillion to household wealth, the largest such increase in any two-year period in US history, according to the Federal ... Read More »

CoreLogic Stays Bullish

bull

While slack demand is causing others to slice their price forecasts for next six to 12 months, CoreLogic reports August prices are up 6.4 percent year-over-year and it predicts by next August, prices will rise an additional 5.2 percent. The CoreLogic HPI Forecast indicates that home prices, including distressed sales, are projected to increase 0.2 percent month over month from August ... Read More »

Housing Momentum is Grinding to a Halt

momentum

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 »

August Sales Took a Dip

plunge

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 »