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Homeowners’ High Prices Spawn Low Appraisals

low appraisal

  Quicken Loans reports appraiser opinions of home values fell further below homeowner opinions in March, according to the lender’s national Home Price Perception Index (HPPI). On a national scale, appraiser opinions are 0.40 percent lower than homeowner estimates. Home values also declined in March. The national Home Value Index (HVI) showed home values dipped 0.56 percent according to the ... Read More »

Buyers Bail Just as Spring Arrives

boy and dpg

With the arrival of the first robins, families’ thoughts turn to buying a new home. Except maybe not this year, according to a new consumer survey by Fannie Mae. Consumer attitudes toward housing appear to have stalled somewhat amid a recent dip in confidence regarding personal finances and income growth, according to Fannie Mae’s March 2015 National Housing Survey™. Among ... Read More »

Figuring Out Florida

florida

From the dawn of the housing crash in 2006, Florida’s real estate economy has stood out from the rest of the nation, sometimes acting as a bellwether of things to come, like the explosion of small investors and foreign investors who put a floor under plunging values in 2009 and 2010. At other times, Florida has been a throwback to ... Read More »

Distressed Discounts Dwindle, Sales Skew up and Median Price Rises

prices

The U.S. median home price in February increased 14 percent from a year ago but was flat from the previous month to $183,000.The median sales price of distressed homes — those in the foreclosure process or bank-owned — increased 13 percent from a year ago to $127,000, 33 percent below the median sales price of non-distressed properties, $190,000 according to ... Read More »

Rents go Stratospheric in First Quarter

blastoff

Annual effective rent growth for apartments was the highest it has been in 3-1/2 years in the first quarter of 2015, according to early release numbers from Axiometrics. Annual effective rent growth of 4.9% during the first quarter of 2015 represented a 21-basis-point (bps) increase over the 4.7% recorded in the fourth quarter of 2014. The figure is the highest since ... Read More »

Housing Markets Top New Health Index

happy

David Berson, who had a front row seat during the housing boom and bust when he was V P and chief economist at Fannie Mae, now is SVP and chief economist at Nationwide Mutual Insurance Company.  There he has crafted a new index called the Leading Index of Health of Housing Markets (LIHNM) to track the health of the nation’s housing ... Read More »

Denver, Miami, and Dallas Lead the Price Parade

denver

January home prices continued their rise across the country over the last 12 months. However, monthly data reveal slowing increases and seasonal weakness, according to the latest S&P/ Case Shiller Home Price Indices. Indices up 4.4 to 4.6 Percent Both the 10-City and 20-City Composites saw year-over-year increases in January compared to December. The 10-City Composite gained 4.4% year-over-year, up ... Read More »

Bubble Trouble? Prices Outpace Wages

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Over the past two years, home price appreciation has outpaced wage growth in 76 percent of U.S. housing markets and appreciation nationwide has outpaced wage growth by a 13:1 ratio, but the price hikes have been fueled by non-traditional buyers like investors and international buyers, according to a new RealtyTrac study. Wages up 1.3 percent, home prices up 17 percent ... Read More »

Stronger Demand and Thin Inventories Push Prices up 7.5 Percent

rising prices

Persistently tight inventories—not a good sign as the spring season nears—coupled with an uptick in sales pushed prices up 7.5 percent in February The median existing-home price2 for all housing types in February was $202,600. This marks the 36th consecutive month of year-over-year price gains and the largest since last February (8.8 percent), according to the National Association of Realtors. Total existing-home sales, which ... Read More »

Tight Credit Slows Hispanic Homeownership

nahrep3

  Lack of reasonably priced low down payment programs and tighter mortgage credit in general limited the growth of Hispanic homeownership in 2014, according to the 2014 State of Hispanic Homeownership Report issued today by the National Associations of Hispanic Real Estate Professionals. However, population growth, income trends and consumer attitudes continue to support a highly optimistic outlook for Hispanic ... Read More »

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