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Detroit Home Values Come Back from the Brink

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Sold prices rose 28 percent in Detroit over the past year, topping the list of Pro Teck Valuation Services’ Home Value Forecast. Others included in the list were Palm Bay, FL; Port St. Lucie, FL; Merced, CA; and, San Francisco, CA. “While Detroit has seen healthy gains this year, the Home Value Forecast rating system shows that Detroit is still ... Read More »

The Dry Rot in America’s Housing Stock: A Sad Legacy of the Foreclosure Era

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  What would an influx of 3.8 million entry-level homes do for housing affordability? Limited inventory and strong demand continue to push home prices higher in America’s hottest housing markets, leading to declining affordability.  Forecasters are raising their predictions as tight inventories of homes, particularly lower priced properties, keep first-time buyers on the sidelines. Those 3.8 million homes, nearly twice ... Read More »

Corelogic: Hot Market Won’t Cool for Another Year

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Home prices nationwide rose by 6.5 percent in June, the 40th straight month of year-over-year increases, and will keep on rising by 4.5 percent through June 2016, CoreLogic said today. On a month-over-month basis, home prices nationwide, including distressed sales, increased by 1.7 percent in June 2015 compared with May 2015. The national average price on the CoreLogic index is now ... Read More »

Home Values Suffer a Mid-tier Body Blow

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  The most populated segment of housing markets, mid-tier priced homes selling between $120,000 and $345,000 are the worst segment in terms of price appreciation, selling nearly 25 percent below peak levels, keeping the recovery locked into low gear July data from Clear Capital revealed that the low-tier is closest to peak 2006 levels, with prices only 10.1% below 2006 ... Read More »

Why are More Millennials Moving in with Mom and Dad?

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By now, more and more Millennials were supposed to be cutting the apron strings, living independently from their parents and establishing their own households. But the opposite is happening.  Five years into the economic recovery, even though unemployment is down, full-time work is up and wages have modestly rebounded, the nation’s 18- to 34-year-olds are less likely to be living ... Read More »

Home Prices are now only 6.5 Percent below Peak

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  In terms of national averages, the recovery has raised prices within a hair of their highest peaks reached during the boom nearly ten years ago, but on a market-by-market basis, median prices in fewer than half of the nation’s larger markets have fully rebounded from the housing crash. At $251,000, US home prices are now just 6.5 percent off ... Read More »

Tight Credit Squeezes Older First-time Buyers More than Millennials

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  Contrary to the popular belief that Millennials should wait until their late thirties to buy a home, new research from the Center for Real Estate Analytics at the Atlanta Federal Reserve Bank.suggests that purchases by Millennials are peaking at an earlier age than their older siblings because mortgage credit has actually became tighter for older first-time buyers than for ... Read More »

Welcome Home, First-timers!

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Not only were more homes sold in May than in any other month over the past five years, the percent share of first-time buyers rose to 32 percent in May, up from 30 percent in April and matching the highest share since September 2012. A year ago, first-time buyers represented only 27 percent of all buyers, the National Association of Realtors ... Read More »

Nascent Demand, Tight Inventories Supercharge April Prices

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  Prices took an unexpectedly big leap upward in April as rising demand collided with tight supplies to propel sale prices. With headlines like The Re-Explosion of U.S. House Prices Is Over, most forecasts in January had prices rising 4-5 percent over 2014.  Only the CoreLogic and NAR were on the sunny side, predicting 5/9 and 6 percent respectively. Only ... Read More »

First April Report: Midwest Trails the Recovery

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    The Midwest is disappointing forecasters who called for a strong recovery this year–through April the region remains volatile, according to Clear Capital’s take on April market data.  At the end of the first quarter, the Midwest is already seeing negative quarterly declines of -0.10%. For nearly seven years, it has struggled to get on equal footing with the ... Read More »

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