Tag Archives: real estate

Radarlogic Sees Trouble Ahead For Home Prices

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As Seasonal Peak in Home Prices Passes the Signs Point to Trouble Ahead. Recent Growth in Foreclosure Filings Suggest REO Inventories May Balloon in Coming Months.

Home PricesIn July, the 25-MSA RPX Composite price remained essentially unchanged on a month-over-month basis, but declined year over year for the 13th month in a row.

RadarLogic®, in it’s July 2011 RPX Monthly Housing Market Report finds that the 25-MSA RPX Composite price (housing values for 25 major U.S. metropolitan areas) for July 21, 2011, was $187.24 per square foot, just 0.3 percent below the value for June 21, 2011, and 4.7 percent below the value for July 21, 2010.

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Quote – Lowest Housing Starts Since World War II

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Lowest Housing Starts Since World War II

“So with population at 312 million in the U.S. today and rising by 3 million each year, housing starts are on track to be lower than when the U.S. population was only half its current size, more than 50 years ago.”

— Lawrence Yun, Chief Economist and Senior Vice President of Research at National Association of Realtors®, Sept. 15, 2011, Economist Commentaries

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FHFA House Price Index Up 0.8 Percent in July

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FHFA House Price Index Up 0.8 Percent in July 

Federal Housing Finance Agency’s monthly House Price Index shows nearly all census divisions with INCREASES in July — but DECREASES year over year.

U.S. house prices rose 0.8 percent on a seasonally adjusted basis from June to July, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.9 percent increase in June was revised to a 0.7 percent increase. For the 12 months ending in July, U.S. prices fell 3.3 percent. The U.S. index is 18.4 percent below its April 2007 peak and roughly the same as the March 2004 index level.

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Fixed-Rate Mortgages Cling To Record Lows

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A sluggish economy and investor concerns over the European debt markets left mortgage rates largely unchanged the week ending September 22, 2011.

Interest RatesFreddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) the week ending September 22, 2011, showing fixed-rate mortgages changing little amid sluggish economic, mixed housing data, and ongoing concerns over the European debt markets. The 30-year fixed remained unchanged at 4.09 percent, while the 15-year fixed dropped a single basis point to 3.29 percent, marking a new record low.

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Survey: Housing Outlook Still Dimming

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Five years after the market peak home prices expected to increase an average of just  1.1% over next five years according to latest MacroMarkets survey.

Fortune Teller PredictionMacroMarkets LLC announced the results of the September 2011 Home Price Expectations Survey, compiled from 111 responses of a diverse group of economists, real estate experts, investment and market strategists. The survey is based upon the projected path of the S&P/Case-Shiller U.S. National Home Price Index over the coming five years.

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Existing-Home Sales Stronger In August Than Expected

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Existing-home sales defy market predictions of little or no gain and increase nearly eight percent annually in August.

Existing Home SalesNational Association of Realtors® reports that, unlike new home sales that dropped 5.8 percent in August, existing-home sales increased for the same period, even though plagued with the same ongoing tight credit and appraisal problems as new home sales, including the regional disruptions created by Hurricane Irene.

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CoreLogic: Negative Equity Declines – But Not Much

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75 Percent of Negative Equity Properties Have Above-Market Interest Rates; nationally, the level of mortgage debt remains high relative to home prices

Underwater homeCoreLogic Q2 2011 Negative Equity Report reveals Q2 negative equity data showing that 10.9 million, or 22.5 percent, of all residential properties with a mortgage were in negative equity at the end of the second quarter of 2011, down slightly from 22.7 percent in the first quarter. Together, negative equity and near-negative equity mortgages accounted for 27.5 percent of all residential properties with a mortgage nationwide. Interestingly, the report also shows that nearly three-quarters of homeowners in negative equity situations are also paying higher, above-market interest on their mortgages. Continue reading →

FSBO Trend Decreasing

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More sellers are turning to agents to help them sell. FSBO sellers have decreased five percent since the start of the housing crisis.

According to data from the latest Profile of Home Buyers and Sellers, For-Sale-By-Owner (FSBO) sellers decreased in 2010, continuing a trend in declines downward. Fourteen percent of sales were FSBOs in 2003 and 2004, compared to just nine percent in 2010. In this tough market, a larger proportion of sellers are turning to agents to help them sell their homes.

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Clear Capital® Reports U.S. Home Prices Increase 4.0%

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Summer’s Last Stand: Warm weather home buying season keeps prices moving up, but the slowing rate of growth and weakening consumer confidence point to a stormy Fall and Winter seasons.

House Price IndicesClear Capital, with data through August 2011, has released its monthly Home Data Index™ (HDI) Market Report.  According to the report, U.S. home price gains of 4.0 percent when comparing the most recent rolling quarter to the previous one. Though quarter-over-quarter gains continue across the nation’s four regions, the rate of growth has begun to slow as the summer buying season winds down and economic confidence shows signs of weakening.

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Strong Housing Market Key to Strong Economy

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The U.S. needs to make it more attractive for capital to flow back into the housing market to get the residential real estate industry — and the economy — back on track.

“Ultimately, a stronger housing market will be key in getting the economy back on track. Five years ago, few would have thought the country would be in a situation with home prices down some 30%. People seem incredulous that prices can drop further, but they can.”

—William Emmons, assistant vice president and economist at the Federal Reserve Bank of St. Louis. September 7th, 2011.

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Housing Market – All Signs Point Lower

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Radar Logic predicts fragile housing market is likely to get worse through the end of 2011

House of CardsSigns of weakness in the housing market are abundant, according to the June 2011 RPX Monthly Housing Market Report released today by Radar Logic Incorporated. The RPX Composite price, which tracks housing values in 25 major metropolitan markets in the United States, declined 4.7 percent year over year through June, and this spring brought the smallest seasonal increase in the RPX Composite on record.

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