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Market Analysis

Clear Capital: Welcome Back to 2004

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  National home prices have been nominally unchanged for a lost decade and we’re back to 2004 levels without even accounting for inflation, leaving many homeowners with no more equity than when they bought.  That’s the grim assessment by Clear Capitol in its September market report. If national home price growth continues to diminish, the lost decade will drag out. August home price ... Read More »

Were July Sales Up or Down?

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  Two major market reports left real estate professionals shaking their heads this week over the latest sales data.  RealtyTrac and NAR reported July sales headed in opposite directions as the buying season closed up shop for the duration. Sales of residential properties were down 3 percent from June and down 12 percent from a year ago — the third ... Read More »

Case-Shiller Still Stuck

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  The June Case-Shiller consensus reports an 8.4% year-over-year increase in the Composite 20 index but the Zillow forecast is for the Composite 20 to slow the increase 8.1% year-over-year, and for prices to be unchanged month-to-month. Zillow’s forecast for Case-Shiller’s July 2014 data cuts the non-seasonally adjusted 20-City Composite Home Price Index increase to 7.0 percent and the 10-City ... Read More »

Over 35s are Dragging us Underwater

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Homeowners age 35 to 49 are three times more likely to be underwater on their mortgages than those 20 to 34 years old. One out of three boomer owners 50 years and older are likely to be underwater. The U.S. negative equity rate fell to 17 percent of all homeowners with a mortgage in the second quarter of 2014, representing ... Read More »

Sales Rise but Trail Last Year

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Existing-home sales increased 2.4 percent in July to a seasonally adjusted annual rate of 5.15 million ibut remain 4.3 percent below the 5.38 million-unit level from last July, which was the peak of 2013. The median existing-home price2 for all housing types in July was $222,900, which is 4.9 percent above July 2013. This marks the 29th consecutive month of ... Read More »

It’s the Year of the Renter

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  Apartment rentals are setting records right and left.  Year-to-date  effective apartment rent growth through July leads all post-Great Recession years for the fourth straight month and is just 10 basis points away from the recovery’s peak YTD figure, reached in 2012. Annualized effective rent growth was 3.8% in July, a 12 bps increase from the 3.7% recorded in June ... Read More »

Fannie Sees Sales Plunging as Prices Rise

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  Fannie Mae’s economists downgraded their outlook for 2014 sales following the disappointing housing activity seen during the first half of the year but remained bullish on the housing market’s ability to consolidate it price gains this year. According to the forecast in Fannie’s August Housing Forecast, home sales will fall 3.2 percent below last year’s level of 5,519,000 units ... Read More »

California Markets Deliver Best Long-term Rental Profits

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For small investors looking for long-term profits from rental properties, five California markets top the list, according to a Zillow Rentals analysis. In terms of rental income, tax benefits and accumulated home equity (thanks to rapid home value appreciation), landlords in San Jose, California, make the most money: $8,927 per month, or $107,122 per year over a six year period. Other California markets in ... Read More »

Housing Recovery Hits the Brakes Across America

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    Home price increases that were generated in the heady days of spring are drying up quickly in the summer months, increasing the chances that the year will end with the housing recovery’s performance far short of last year’s stellar performance and possibly in the red in more marginal markets than last year. The national median existing single-family home ... Read More »

Rising Prices Push Homes Out of Reach

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  Price increases over the last two years of the recovery are reducing the numbers of households who can afford to buy homes above the lowest pricing tiers, creating a bottom heavy market. At the base of the market for housing is a large number of households with relatively modest incomes. The homes that these households can afford are also ... Read More »