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Market Trends

Tight Credit Chokes Pending Sales

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Pending home sales rose slightly in September and are now above year-over-year levels for the first time in 11 months, according to the National Association of Realtors®.  But NAR’s monthly pending sales repot disappointed observers and underscored the problems facing the housing sector The pending home sales index increased 0.3% after dropping 1% in August, the National Association of Realtors ... Read More »

Seattle: Tale of Two Cities

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Why lower income neighborhoods have been left out of the housing recovery? In an ana;ysis of the Seattle marlket, Pro Teck  Va;uatgion Services describs  how income and access to credit drives home values and why across the country we are seeing strong appreciation in wealthy areas but slower recovery in areas of lower income. Seattle’s median household income is soaring, with ... Read More »

Freddie Mac: Local Markets are Stabilizing, Weakness Overall

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Eight additional metro and state housing markets showed positive momentum in August butFreddie Mac’s Multi-Indicator Market Index® (MiMi) stands at 73.3, indicating a weak housing market overall and showing a very slight decline (-0.19%) from July to August and a 3-month decline of (-0.47%). However, n a year-over-year basis, the U.S. housing market has improved (4.09%). The nation’s all-time MiMi ... Read More »

Zillow: Prices Peaked

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    Appreciation in home values is slowing definitively after nearly two years of accelerating year-over-year growth, according to the third quarter Zillow® Real Estate Market Reports. Homebuyers who have been priced out of hot markets will welcome the cooling off. The rate of annual home-value appreciation peaked at 8.1 percent in April and has fallen in every month since. ... Read More »

Falling Prices and Falling Leaves Perk up Sales

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Existing home sales picked up in September, reaching their highest pace on an annualized basis of the year, helped along with a price drop of nearly five percent to launch the fall season. Median price fell from $219,800 in August was $209,700, a drop of 4.8 percent but still 5.6 percent above the levels of a year ago. The price ... Read More »

Fall Inventories Moderate Redfin Prices

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September sales volume declined by 13.7 percent in September from August on Re3dfin even though Inventory increased by 4 percent over August and newly listed homes were up 2.1 percent.  Prices were among the lowest among September market reports to date.  The brokerage hopes for better news in the fourth quarter but doesn’t expect price growth to be higher than ... Read More »

Student Loan Debt Consumes Twenty-somethings

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  Student loan debt is consuming the budgets of twenty-somethings at a breakneck pace, mutating their debt profile into unrecognizable ways that stretch their resources and limit their options. A new TransUnion study found that the consumer loan wallet — the composition of loans that people typically carry — has materially changed their imprint on consumers ages 20-29, with the student loan ... Read More »

CoreLogic Stays Bullish

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While slack demand is causing others to slice their price forecasts for next six to 12 months, CoreLogic reports August prices are up 6.4 percent year-over-year and it predicts by next August, prices will rise an additional 5.2 percent. The CoreLogic HPI Forecast indicates that home prices, including distressed sales, are projected to increase 0.2 percent month over month from August ... Read More »

Housing Momentum is Grinding to a Halt

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The U.S. housing market is struggling to maintain momentum as housing prices continue to moderate and purchase applications fall. The latest reading of Freddie Mac’s newly updated Multi-Indicator Market Index® (MiMi®) shows a slight decline in the national value through July. The national MiMi value stands at 73.4, indicating a weak housing market overall and showing a slight decline (-0.45%) ... Read More »

August Sales Took a Dip

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Nothing like a plunge in the pool to bring the housing recovery back to reality. Each sales report and forecast paints a picture of a declining market as the spring/summer market faded away.  Now there’s a growing consensus that existing home sales will fall below the magic 5 million number for only the second time in the past eight years. ... Read More »