real estate market conditions: Rent vs. Own? The Best Option in Each State
- 07/26/17 10:49 AM
Rent vs. Own? The Best Option in Each State Daily Real Estate News | Wednesday, July 26, 2017 Home prices may be on the rise across the country, but you’re still better off buying a home in most states in the U.S. than renting one. Consumers in only 11 states will find renting more affordable than buying a home, according to a new study by GOBankingRates, a personal finance website.
GOBankingRates analyzed the cost of renting versus owning a home in all 50 states and the District of Columbia. Researchers looked at estimated rent prices for all homes listed on a … (0 comments)
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real estate market conditions: Home Owners Should Feel Twice as Rich
- 11/02/16 06:02 AM
Daily Real Estate News | Wednesday, November 02, 2016
Thanks to rising home prices, home owners are getting richer, a new study says. The amount of homeowner equity has doubled in the last five years, according to CoreLogic’s latest Home Price Index and HPI Forecast for September 2016.
"Home equity wealth has doubled during the last five years to $13 trillion, largely because of the recovery in home prices," says Frank Nothaft, chief economist for CoreLogic. "Nationwide during the past year, the average gain in housing wealth was about $11,000 per home owner, but with wide geographic variation."
Home owners in … (0 comments)
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real estate market conditions: Heat Wave Sweeps Through Housing Market
- 07/01/15 02:55 AM
Daily Real Estate News | Tuesday, June 30, 2015
Read more: 10 Housing Markets Fueled by Job Growth
The housing market is getting hotter this summer, according to a preliminary analysis of June data from realtor.com®.
The median list price nationwide in June rose 7 percent year-over-year, reaching $233,000. The median days on the market is 66 days, also down 7 percent year-over-year. Also, inventories are growing faster -- 4 percent higher in June over May, but still down over last year.
"Our early read of real estate trends in June suggests good news ahead for the U.S. residential real estate … (1 comments)
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real estate market conditions: Home Prices Surge to Fastest Pace in Year
- 03/24/15 04:53 AM
Daily Real Estate News | Tuesday, March 24, 2015
Existing-home sales showed some improvement in February, but remain constrained by low inventories of homes for-sale that are pushing price growth to the fastest pace in a year, according to the National Association of REALTORS®.
Inventory Crunch
Tight Supplies Put Home Prices on the Move
A Big Threat to the Spring Housing Market
Why Inventory Problems Aren't Going Away
The median existing-home price for all housing types was $202,600 in February – 7.5 percent higher than a year ago.
"Insufficient supply appears to be hampering prospective buyers in several areas of … (1 comments)
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real estate market conditions: Foreclosure Inventory Plunges 33%
- 03/12/15 06:13 AM
Daily Real Estate News | Thursday, March 12, 2015
Foreclosures are quickly drying up in many markets. Foreclosure inventory dropped 33.2 percent, while completed foreclosures fell 22.5 percent in January year-over-year, according to CoreLogic’s January 2015 National Foreclosure Report.
Read more: Repeat Foreclosures Jumped in January
In January, 43,000 completed foreclosures occurred nationwide, down from 55,000 one year earlier. That also represents a 63 percent decline compared to the September 2010 peak in foreclosures. Foreclosures have fallen every month for the past 39 consecutive months.
"Job growth and home-value appreciation have worked to push the serious delinquency rate to the … (1 comments)
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real estate market conditions: Pending Home Sales Surge to 18-Month High
- 03/02/15 03:02 AM
Pending Home Sales Surge to 18-Month High Daily Real Estate News | Monday, March 02, 2015 A rise in buyer demand pushed pending home sales upward in January to the highest level since August 2013, according to the National Association of REALTORS®’ Pending Home Sales Index, a forward-looking indicator based on contract signings. All regions across the country posted gains in January, except for the Midwest.
The Latest Housing Indicators
Tight Supplies Put Home Prices on the Move
New-Home Sales Stay Resilient
A Big Threat to the Spring Housing Market
The Pending Home Sales Index rose 1.7 percent in January to a … (1 comments)
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real estate market conditions: Winter Is Best Time to Sell, Study Shows
- 12/15/14 04:59 AM
Daily Real Estate News | Monday, December 15, 2014 --> The housing market doesn’t hibernate in the winter. Sellers who list and buyers who buy often find the winter season the most advantageous time to make a move in real estate, according to a new study by the real estate brokerage Redfin. The winter season officially takes place between Dec. 21 and March 20, and real estate professionals should be ready for a season that often brings in more focused and active sellers and buyers.
Winter Sales
Rush to Buy Homes During the Holidays?
Tips for Selling a Home in … (3 comments)
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real estate market conditions: Luxury Home Sale on the Rise
- 01/27/14 03:59 AM
Luxury Returns to Housing Daily Real Estate News | Monday, January 27, 2014 --> Following the recent recession, interest in large and expensive homes dropped dramatically as home buyers showed preferences for smaller, more affordable homes. But house hunters are being attracted to luxury home features once again, as the affluent buyer steps back into the market. In July 2013, sales of homes costing more than $1 million rose 46.6 percent from the previous July.
“The housing market is being driven by the move-up buyer, the luxury buyer,” Brad Hunter, chief economist and director of consulting at Metrostudy, told The … (0 comments)
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real estate market conditions: 2013 Year-End Foreclosure Report: Filings Fall 26%
- 01/20/14 04:35 AM
Daily Real Estate News | Friday, January 17, 2014
Last year, the foreclosure crisis began dissipating. Foreclosure filings -- including default notices, scheduled auctions, and bank repossessions -- were down 26 percent in 2013 compared to 2012, and were down 53 percent from the peak in 2010, according to RealtyTrac’s Year-End 2013 Foreclosure Market report.
The 1.4 million properties with foreclosure filings in 2013 marked the lowest amount since 2007.
During the year, one in every 96 homes -- or about 1.04 percent of U.S. housing units -- received a foreclosure filing. That’s down from a peak of 2.23 percent … (0 comments)
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real estate market conditions: 4 Keys Identified for a Full Housing Recovery
- 01/20/14 04:31 AM
Daily Real Estate News | Friday, January 17, 2014 --> In order to have a fully recovered housing market and economic recovery, economists point to the need for four positive indicators:
1. A healthy job market with low stable unemployment;
2. Mortgage delinquencies that have returned to historical averages;
3. Home prices consistent with an affordable mortgage payment–to–income ratio; and
4. Home sales that are in the range of historical norms.
So, is the housing market inching closer?
Freddie Mac’s U.S. Economic and Housing Market Outlook for January takes a look at how the housing market is performing among these … (0 comments)
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real estate market conditions: Foreclosures Fall to 5-Year Lows
- 11/25/13 03:45 AM
Daily Real Estate News | Monday, November 25, 2013 --> National foreclosure pre-sale inventory is at its lowest point since 2008, Lender Processing Services reports.
The inventory—which reflects the number of loans that are in some stage of foreclosure—represents 2.54 percent of all mortgaged homes in LPS' October data. That marks a 3.23 percent drop month-over-month, and a nearly 30 percent year-over-year drop. LPS’ data reflects about 70 percent of the mortgage market.
The National Association of REALTORS® reported last week that distressed homes are making up fewer of the total existing-home sales recorded in the past year. Sales of distressed … (0 comments)
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real estate market conditions: Lenders Loosen Down Payment Requirements
- 11/18/13 10:45 PM
Daily Real Estate News | Monday, November 18, 2013 <!-- /.section-date-author -->
<!--<pre><?/*php print_r($node);*/?></pre>--> <!--paging_filter--> Lenders' tight underwriting standards have been blamed for sidelining many potential home buyers the last few years. But lenders may be showing signs of loosening up a bit.
The average down payment on a 30-year, fixed-rate mortgage fell 2.74 percent from the second quarter to 15.73 percent of the home’s value in the third quarter, according to a new report from LendingTree.
"Lenders are putting more focus on purchase mortgages and are adjusting minimum requirements to attract borrowers," says Doug Lebda, LendingTree founder and CEO. "With … (0 comments)
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real estate market conditions: High-Priced Properties Drive Housing Recovery
- 11/06/13 05:03 AM
Daily Real Estate News | Wednesday, November 06, 2013 <!-- /.section-date-author -->
<!--<pre><?/*php print_r($node);*/?></pre>--> <!--paging_filter--> Sales growth is strongest among homes in the highest home tiers, according to a new analysis of housing data from the National Association of REALTORS®. Homes in the above-median-priced categories are outselling homes in the lower-priced tiers.
Over the past year, more than 11 percent of homes sold were priced at over $500,000.
A big variation exists among regions for median prices. The median price reflects half of the homes in an area that sold at a higher price and half of the homes that sold … (0 comments)
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real estate market conditions: Housing Moves Toward 'Healthy Equilibrium'
- 10/17/13 04:21 AM
Daily Real Estate News | Thursday, October 17, 2013 --> The housing market is finding its center again, showing signs of greater balance, according to realtor.com’s latest National Housing Trend Report. The analysis finds year-over-year trends revealing strong gains in median list prices and declines in days on the market.
“Our September data on inventory counts, median list prices, and median time on market has shown another month of steady leveling, but the recovery certainly remains uneven in some pockets,” says Errol Samuelson, president of realtor.com. “Some of the more industrial-based markets clearly continue to struggle, yet others are showing significant … (0 comments)
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real estate market conditions: Foreclosure Starts Cut in Half
- 09/30/13 07:14 AM
Daily Real Estate News | Monday, September 30, 2013 --> Foreclosure starts have fallen to half the level they were a year earlier, according to second quarter data recently released from the Office of the Comptroller of the Currency.
In the second quarter, there were 150,592 foreclosures started—down 50.8 percent from the second quarter of 2012. It’s the fewest number of foreclosure starts in any quarter since early 2008, according to the OCC, whose report reflects performance on first-lien residential mortgages.
The OCC attributes the drop to a strengthening economy, aggressive foreclosure prevention efforts, loan modifications, and regulatory actions.
… (0 comments)
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real estate market conditions: Michigan's Foreclosure Rate drops 55%
- 09/17/13 06:06 AM
8 States With Biggest Foreclosures Drops Daily Real Estate News | Tuesday, September 17, 2013 --> The number of home owners entering the foreclosure process dropped below pre-recession levels in August, according to RealtyTrac. In some states, the declines were even more pronounced. Financial site 24/7 Wall St. reviewed the states with at least 500 foreclosure starts as of August 2013 to identify which had the largest declines in the last year:
Illinois
Change in foreclosure starts: -66.2% Arizona
Change in foreclosure starts: -64.9% Washington
Change in foreclosure starts: -64.9% Florida
Change in foreclosure starts: -64.6% California
Change in foreclosure … (0 comments)
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real estate market conditions: Foreclosures Down 29% From Year Ago
- 08/27/13 04:14 AM
Daily Real Estate News | Wednesday, July 10, 2013 <!-- /.section-date-author --> <!--<pre><?/*php print_r($node);*/?></pre>--> <!--paging_filter--> Foreclosures are continuing a steady fall, as home prices rise and the housing market picks up nationwide.
About 1 million homes were in some stage of foreclosure in May, down from 1.4 million in May 2012, a 29 percent decline, according to CoreLogic’s latest foreclosure report. As of May, the foreclosure inventory represented 2.6 percent of all homes with a mortgage -- down from 3.5 percent a year prior.
There were 52,000 foreclosures completed nationwide in May, down 27 percent year over year. However, the numbers … (0 comments)
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real estate market conditions: Shadow Inventories Becoming Vanishing Problem
- 08/27/13 04:10 AM
Daily Real Estate News | Monday, August 26, 2013 --> Shadow inventories posted the largest quarter-over-quarter decline since the housing crisis began, and dropped 23 percent year-over-year, according to Compass Point Research & Trading.
Shadow inventories — homes at risk of default that have yet to hit the market — once posed a big threat to the housing recovery. At its peak in March 2010, shadow inventory was at about 5.5 million loans, according to data compiled by the Mortgage Bankers Association and Bloomberg. For the second quarter of 2013, shadow inventory has fallen to 2.99 million.
In comparison, shadow … (0 comments)
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real estate market conditions: Mortgage Delinquencies Fall to 2007 Lows
- 05/07/13 02:44 AM
Mortgage Delinquencies Fall to 2007 Lows Daily Real Estate News | Tuesday, May 07, 2013 --> Delinquencies on home loans dropped in March to 0.84 percent of the nation's 50.2 million mortgages -- the first month since 2007 that delinquencies were below the 1 percent mark, Lender Processing Services Inc. reports.
First-time defaults -- loans that are at least 60 days delinquent -- peaked in January 2009 at 2.89 percent.
As the economy and employment gradually are on the mend and home prices rise, more home owners are keeping up with their mortgage payments.
“Mortgage quality is … (0 comments)
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real estate market conditions: Economists Revise Housing Figures Amid Optimism
- 03/14/13 04:46 AM
Daily Real Estate News | Thursday, March 14, 2013 <!-- /.section-date-author --> <!--<pre><?/*php print_r($node);*/?></pre>--> <!--paging_filter--> Several economists have recently revised their predictions on housing values to reflect a stronger-than-expected real estate rebound, and some have even doubled their original forecasts over the rise in home prices. For example, economists at Bank of America revised their home price forecast from 4.7 percent this year to 8 percent.
Capital Economics’ Economist Paul Diggle upwardly revised his home price forecast too, from a 5 percent projection to an 8 percent rise in home prices this year.
"Prices of both new and existing homes are … (1 comments)
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Rent vs. Own? The Best Option in Each State Daily Real Estate News | Wednesday, July 26, 2017 Home prices may be on the rise across the country, but you’re still better off buying a home in most states in the U.S. than renting one. Consumers in only 11 states will find renting more affordable than buying a home, according to a new study by GOBankingRates, a personal finance website. 
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