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Market Trends

CoreLogic Kicks off 2015 in Style

fred astaire

CoreLogic reports shows that home prices nationwide increased 5.7 percent in January 2015 compared to January 2014. This change represents 35 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide increased by 1.1 percent in January 2015 compared to December 2014*.  Some 27 states and the District of Columbia are at or within 10 ... Read More »

Case Shiller: Maybe They Just Don’t Like December

christmas

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 »

Winter Inventories Plant Seeds for Spring Surprises

winter for sale

Behind the headlines proclaiming heather inventory levels, there are good reasons to be concerned that tight inventoiers today might presage price explosions tomorrow, especially in two areas where the real estate economy is vulneratble to bubbles:  hot regions that led demand and price increases last year and lower tiered entry level homes popular with new home buyers. On a national ... Read More »

What’s Happening to the Most Important Homes in Real Estate?

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  What’s really happening with homes in the bottom price tiers? These are the most important homes in the entire real estate economy.  They are where the housing ladder begins: they are then entry point for new buyers, the starter homes that MUST be available and affordable for Millennials if the housing economy is to ever function again as it ... Read More »

Will Low Down Payments Bring First-timers Home?

Starter homes

Suddenly More first-time buyers are buying homes.  More are making down payments even as lenders rush to sign up for the new 3 percent down programs launched by Fannie and Freddie in November.  Coincidence or can we connect the dots? It’s too soon for the new programs to have an impact on sales, but the odds are good that when ... Read More »

It was a $1.7 Trillion Year

canstockphoto9771171

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

eggs

  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 »

Apartment Rents Soar Even HIgher

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Annualized effective rent growth rose to 4.7 percent in November, the biggest increase of the year and the highest since August 2011 when the rate measured 5.0 percent. According to research from Axiometrics, November’s rent-growth rate was a 38-basis-point increase from the 4.3 percent recorded in October and the largest growth margin since the 39-bps increase from February-March 2011 (4.6 percent ... Read More »

Rents Rise, Ownership Costs Fall, Part Deux

dontfprgetrent

The squeeze renters will feel over the next twelve months will not be pleasant, especially for lower income renters.  But those who can afford to buy in 2015 have multiple incentives to do so, beginning with their monthly rental bill. In a new piece of research on the dynamics of renting vs. buying, Zillow’s economists have update the numbers on ... Read More »