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Market Activity

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

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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

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  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 »

RE/MAX: Low Inventories + Stronger Sales = Higher Prices

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  Low inventories combined with higher sales in February resulted in a year over year price increase of 5.5 percent, according to the February RE/MAX National Housing Report. Unlike last February, this February experienced increased home sales, but with only a moderate rise in prices. Home sales in February rose 7.1% from January and 2.2% from February 2014. Sales through ... Read More »

Appraisals Dip Below Homeowner Estimates For First Time in 17 Months

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Appraiser opinions of home values fell below homeowner estimates by 0.13 percent in February for the first time since August 2013 according to Quicken Loans’ Home Price Perception Index (HPPI), which measures the difference between what owners think their homes should be worth and what appraisers decide they actually are worth. Despite the drop in the national HPPI, appraiser opinions ... Read More »

Is it Cold Feet or Just the Weather?

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With the opening of the 2015 home selling season just a few weeks away, are sellers showing signs of getting cold feet?  Do many plan to sit out 2015 or are they just moving slowly because their toes are still numb from the latest winter wallop and all will be well with the first daffodils? Fannie Mae’s monthly National Housing ... Read More »

Case Shiller: Maybe They Just Don’t Like December

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Which of the following statements were made today by Standard & Poor’s David Blitzer about the December Case Shiller price indices? “Gains are slowing from month-to-month and the strongest part of the recovery in home values may be over. Year-over-year values for the two monthly Composites weakened and the quarterly National Index barely improved. The seasonally adjusted data also exhibit ... Read More »

Tight Inventories Propel Prices

REMAX

  Supplies of listed homes in REMAX’s database lit a fuse under January prices, sending pricing soaring 11.2 percent over a year ago.  Inventories were down 10.2 percent and months’ supply fell to 5.2, pushing the 6.0 boundary where markets are out of balance. The dramatic drop in listings tracked by REMAX echoed findings by NAR, Realtor.com and Zillow that ... Read More »

It was a $1.7 Trillion Year

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The good news is that America’s housing stock is now worth $27.5 trillion, an increase of $1.7 trillion over last year.  The bad news is that U.S. home values rose 6 percent year-over-year through November, the smallest annual gain since June 2013, according to Zillow’s Stan Humphries. The aggregate value of all homes nationwide is expected to be approximately $27.5 ... Read More »

November Sales Lay an Egg

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  Just as the housing industry was preparing to celebrate the first year in a decade when sales progressed at a relatively moderate pace and experts from coast to coast were heralding a return to normalcy, November existing home sales laid the biggest egg in four years. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums ... Read More »

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