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Market Trends

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 »

Wake-Up Call: Depreciation Soars in Top Markets

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Though rising median home prices paint a favorable picture of current housing markets, the population of houses losing over 2 percent of value per year has increased to 24 percent from just 6 percent a year ago in ten of the nation’s largest markets. According to June data, in three major urban markets–New York City, Washington DC and Chicago–more than ... Read More »

Boomers Would Rather Fix Up Than Move Out

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  Baby boomers (born 1945-1964) are the primary drivers of home improvement spending, accounting for about half of total home improvement spending. However, Gen-Xers (born 1965-1984) are gaining share, with their share up from 5 percent in 1995 to 30 percent in 2013. Recent buyers, who moved into the home within the past three years, spend 25 percent more on ... 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 »

Sellers are Pocketing their Biggest Profits since the Peak

Greedy Business Partners

Single family home and condo sellers in the first half of 2015 sold for more above their purchase price in the first half of this year than any time since prices were at the peak of the boom. Homes sold for an average of 13 percent above their original purchase prices, the highest average percentage in home price gains realized ... Read More »

Nearly Half of Homes in Top Markets are Losing Value

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  Despite market reports of strong median home price appreciation this spring, gains are very uneven and nearly half of homes in ten of the nation’s largest markets actually lost value in May. On a house-by-house basis, about one-third fewer homes in the largest markets gained value during the heart of the spring buying season this year compared to last, ... Read More »

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