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Market Activity

Don’t Blame the Weather!

Igloo

It might have been the worst winter in a decade or more and no one doubts it impacted housing, but a new analysis by CoreLogic economists concludes there’s more to blame for the winter’s sorry numbers than the Polar Vortex, Single-family housing starts, a closely watched indicator of housing market health, fell by 13 percent month over month in January ... Read More »

New Mortgages Fall to 14 Year Low

stonehoiuse

  In yet another sign the recovery is hitting a wall due to strict lending standards: in February monthly mortgage originations dropped to the lowest level in at least 14 years as credit standards have not shown signs of loosening, according to latest Mortgage Monitor Report from Black Knight Financial Services. “February’s data showed the continued trend of declining origination ... Read More »

February Prices: CoreLogic ups the Ante

poker-hand

Despite slow sales and paralyzing storms in much of the nation, February year over year prices rose to 12.2 percent, an increase of two points over January and monthly prices rose 0.8 percent, CoreLogic reported today. Home prices nationwide, including distressed sales, rose 12.2 percent in February 2014 compared to February 2013, the 24th month of consecutive year-over-year increases in ... Read More »

Rising Prices Seen Driving Investors Out

banker

The salad days of low price tier home sales (homes selling for $95,000 and less) that fueled the recovery over the last two years are ending and with them, the legions of investors that have led the nation’s housing recovery. “The Investors Did Their Job,” headlines Clear Capital’s latest market report.  “Can traditional home buyers take it from here?” Deeply ... Read More »

Will this be a Spring for Happy Dancing?

spring

Six months ago all the stars were aligned for a spring market that would take America’s housing recovery to new levels and perhaps the rest of the national economy with it. Since then too many things have gone wrong take for granted another good year.  First, inventories dragged, failing to replenish at a healthy rate through most of the winter ... Read More »

Sales Freefall Continued in February

8865606749_42f7be576f

  Home sales took another deep dive in February, falling 7.1 percent below the 4.95 million-unit level in February 2013 to the lowest level of sales in any month since July 2012, when annualized sales stood at 4.59 million.  The size of the sudden decline suggests that there might be more than bad weather behind the bad news. NAR chief ... Read More »

Sellers are Listing Despite February Freezes

Home For Sale Real Estate Sign in Front of Beautiful New House in the Snow.

    The outlook for a more abundant, more affordable selection of homes for sale this spring improved considerably in February.  Sellers in most markets are responding to the price increases of the past year, suggesting they are increasingly optimistic about the housing recovery and the underlying strength of market demand through 2014, according to the latest February data from ... Read More »

Fed Reports Winter Cools Inventories

Sign in the Snow

In its latest report on the economy, Federal Reserve economists report that winter weather has contributed to a slowing of real estate markets and inventories are low in most districts. The Fed’s latest Beige Book reports that residential real estate markets continued to improve in several areas, albeit modestly. Boston and New York gave mixed reports on sales, and Philadelphia, ... Read More »

CoreLogic Projects January Prices up 10.2 Percent

winter

  Prices in the new year will pick up almost where last year left off, registering a 10.2 percent increase in January over a year ago according to CoreLogic.   However, the double digit increase is a slight decline from December’s 11 percent.  Is it a sign of softer prices to come? Rising foreclosure and short sale prices helped December record ... Read More »

Case-Shiller: Dallas, Chicago Broke Records in November

chicago

Data through November 2013 showed that the 10-City and 20-City Case-Shiller Composites increased 13.8% and 13.7% year-over-year. Dallas posted its highest annual return of 9.9% since its inception in 2000. Chicago also stood out with an annual rate of 11.0%, its highest since December 1988. For the month of November, the two Composites declined 0.1%. After nine consecutive months of ... Read More »