An analysis of home prices through the end of February by CoreLogic shows a year-over-year decline of 6.7 percent when distressed properties – REO and pre-foreclosure short sales – are included in the numbers. Take out the distressed factor, and the company says home prices are “showing signs of stability,” down just 0.1 percent from […]
Existing-Home Sales Fall Again
Existing-home sales, or completed residential real estate transactions for properties including single-family homes, townhouses, condos and co-ops, showed a renewed decline last month. February’s number of existing-home sales dropped 9.6% to 4.88 million when compared to 5.4 million in January. Sales were down 2.8% year-over-year as well, from 5.02 million sales in February of 2010. […]
Housing Starts Fell 22.5% in February
Housing starts fell 22.5% in February, well below most analysts’ estimates and to the lowest rate in almost two years, according to Commerce Department data. In a joint release, the Census Bureau and Department of Housing and Urban Development said starts fell to a seasonally adjusted rate of 479,000 units, down from a revised 618,000 […]
Rents Could Be On The Rise
Renters Beware: Double-digit rent hikes may be coming soon. Already, rental vacancy rates have dipped below the 10% mark, where they had been lodged for most of the past three years. By 2012, some are predicting the vacancy rate will hover at a mere 5%. And with fewer units on the market, rental rates will […]
High End Homes Selling Quicker
While home sales across much of the country have languished in recent months, struggling to pick up speed, a recent report says homes on the higher end of the market are selling with renewed vigor. According to DataQuick Information Systems, the number of home sales worth more than $1 million increased in each of the […]
Debt Consolidation Loans Becoming More Common
The housing slump has sent home values plummeting, and it has left an ever-growing number of homeowners upside down in their mortgage loans: They now owe more on their mortgage than what their homes are worth. This unfortunate economic reality has led a growing number of consumers to debt consolidation loans to help reduce the […]
Home Affordability Remains High
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the February 2011 edition of the Obama Administration’s Housing Scorecard. The latest housing figures show increased existing home sales as home affordability remains high, but officials caution that the market remains fragile, as prices are unsettled. “In the […]
What the Housing Market Is Signaling Now
Home prices in most major metropolitan areas are starting to stabilize. A report from the National Association of Realtors (NAR) showed that 78 markets in the U.S. experienced price gains in the fourth quarter of 2010 over the previous year. Existing-home sales were up as well, rising 15.4% to an annual rate of 4.8 million […]
U.S. Home Prices Fall to Pre-Bubble Levels
The drop in home values caused by the mortgage crisis has resulted in at least one positive outcome: Prices have fallen so far and so fast that home affordability is back to pre-housing boom levels, according to a new report. After reaching a peak in late 2005, the ratio of home prices to annual income […]
Home Prices Ended 2010 Showing No Change
Two separate industry gauges released recently indicate that despite the ups and downs seen in monthly reports on home prices over the last year, residential property values ended 2010 relatively unchanged from 2009 levels. Reports from both Integrated Asset Services (IAS) and CoreLogic point to level ground over the 12-month period, although consecutive month-to-month declines […]
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