Real estate blog entries tagged with housing data by Spencer Rascoff (Zillow)

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housing data: June 2010 Housing Outlook - 08/10/10 11:21 AM

Several of you have asked me to post the latest presentation on housing trends from Dr Stan Humphries (Zillow Chief Economist). So here you go:
Real Estate Outlook June 2010 Master … (0 comments)

housing data: On Fox Business talking about Fannie/Freddie and housing data - 06/25/10 05:57 AM

I was on Fox Business yesterday discussing the latest housing data, Fannie & Freddie, and other real estate topics.

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housing data: Guest Post by Stan Humphries (Zillow Chief Economist): First Quarter of 2010 Brings Mixed Results for Home Values Nationally, But Some Positive News in California - 05/11/10 06:11 AM

First Quarter of 2010 Brings Mixed Results for Home Values Nationally, But Some Positive News in California
By: Stan Humphries, Chief Economist | May 9, 2010
This quarter brought a mixed bag of results, with some slightly disappointing numbers on a national basis, but some bright spots in several large California markets.
The year-over-year rate of home value depreciation continued to shrink in March, even as home value changes remained negative on a month-over-month basis. The monthly rate of depreciation stayed unchanged from the prior month (see Figure1).

Year-over-year change in the Zillow Home Value Index (ZHVI) was -3.8% … (3 comments)

housing data: Guest post by Stan Humphries: How Soft is the Housing Market? - 04/27/10 09:22 AM

This post was written by Zillow's Chief Economist, Dr Stan Humphries. It was originally written on Zillow Blog.
We got some encouraging news last week about March existing-home sales increasing almost 7% from their levels in February. Unfortunately, a deeper look at the numbers from the National Association of Realtors reveals that inventory of for-sale homes also increased. Despite the higher number of sales, more homes were added to the market in March than were sold. Figure 1 below shows the overall inventory of homes on the market.
Figure 1 below shows the overall inventory of homes on the market.

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housing data: Dr Stan Humphries (Zillow Chief Economist) on Bloomberg News - 02/11/10 04:14 AM

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housing data: The Housing Bubble: not just an American phenomenon - 02/03/10 03:27 AM

In this paper from Banque de France, Pamfili Antipa and Remy Lecat argue that home prices in France and Spain ran up to about 20% above their fundamental value by the end of 2008. Only 20%? Ha, I laugh at you France and Spain! America crushes you.
All kidding aside, what's interesting is that the paper concludes that it wasn't loose monetary policy that mostly drove the Spanish and French bubbles; it was loose lending standards that really mattered more so than low interest rates: "When enriching fundamentals with a measure of households’ borrowing capacity, most of this overvaluation, however, disappears … (22 comments)

housing data: Video: Foreclosure Sales vs Non-Foreclosure Sales - 01/28/10 03:47 AM

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housing data: Price Differences Between Foreclosures and Non-Foreclosures - 01/26/10 07:03 AM

Zillow's Chief Economist, Dr. Stan Humphries, released the following white paper today analyzing foreclosure home sales. I think you'll find it very interesting.

ZillowResearchBrief_ForeclosureDelta … (2 comments)

housing data: December 2009 Real Estate Analysis - 12/14/09 06:58 AM

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housing data: On CNBC discussing housing starts data - 11/18/09 06:17 AM

And be sure to check out the Active Rain shout out 2:10 in -- "writes a blog for real estate professionals on ActiveRain" .
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housing data: On CNBC discussing high-end real estate - 11/11/09 08:35 AM

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housing data: List-to-sale price ratios - 10/13/09 06:39 AM

One way to gauge the strength of a local real estate market is to look at the variance between the last listing price and the final sale price. Remember the good old days when homes actually sold for MORE than asking price? Ah, memories.
In the graph below, I compare list-to-sale price ratios over the last year for the US (red line), New York metro (yellow), Los Angeles metro (green), Chicago metro (grey) and Boston metro (blue). The metric divides the list price by the sale price so 1.0 would indicate that homes were selling for exactly the asking price and … (6 comments)

housing data: On Bloomberg TV discussing foreclosures - 10/12/09 12:13 PM

Here's the analysis of foreclosures moving upscale.
The startling headline is this -- in 2006, the top 1/3 most expensive homes in each local area made up 16% of foreclosures. Today, the top 1/3 of homes make up 30% of foreclosures.
And here's the video from Bloomberg TV today discussing this and other issues. Sorry to come off as so pessimistic, but I call 'em like I see 'em. No spin here.

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housing data: When will the housing market bottom? - 05/20/09 02:13 AM

We all know that a question like this is irrelevant because all that matters is when local home prices (down to the neighborhood level) will turn around. However, the media can't help but ask this question, and I don't really blame them. My own perspective is that we're still about a year out from a national bottom in home prices (fall 2011) and then we're likely to see an L-shaped recovery (i.e., values will stay flat for at least 2 years before starting to turn up).
What are the experts saying? They're a little more optimistic than I am. Here's Reuters' … (1 comments)

housing data: VIDEO: On CNBC discussing "shadow inventory" and negative equity - 05/06/09 11:09 AM

Here's the Fox Business News clip which talks about negative equity. Unfortunately I can't embed the FBN clip.

And here's CNBC...

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housing data: Home Prices Continue to Fall - 11/12/08 05:57 PM

Zillow released our 3rd Quarter Real Estate Market Reports today, offering a detailed analysis of housing trends in 163 cities around the country. This is by far the most detailed report of its kind, and it delves into many more cities than any other report. We believe that Zillow's data is a more accurate represenationof what's happening to overall housing trends than Case-Shiller for a variety of reasons.
Some of our findings:
Nationwide, the median value of all homes declined 9.7%, the 7th quarter in a row to show a decline 30.2% of … (0 comments)

housing data: Homeowners are delusional - 08/06/08 01:23 PM

This won't be new news to any of you listing agents working with frustrated sellers, but most homeowners haven't adjusted their expectations of value yet. Everyone realizes that house values have declined; but no one wants to believe that their home has declined in value. Here's the data from ZillowBlog to prove just how delusional homeowners are when they ask themselves "what is my house worth?":
62% of U.S. Homeowners believe their home’s value has increased or stayed the same in the past year. In reality, 77% of U.S. homes have declined in value over the past 12 months. While … (37 comments)

housing data: Fascinating foreclosure data - 05/20/08 04:15 PM

There are a lot of ways to report on foreclosure statistics, most of them inaccurate. This is because most foreclosured homes go through several steps on their way to the final sale from the bank to a new owner, so statistics frequently overcount actual foreclosures.
I think the best way to look at foreclosures is to measure what % of sales in a given time period were sold by a bank versus sold by a regular (non foreclosed) seller. This measure helps show both the size of the foreclosure problem AND its size relative to the non-foreclosure market.
There is a … (1 comments)

housing data: Talking Seattle house prices, Rainier Club lunch on May 19 - 05/15/08 03:26 PM

No lunch plans for Monday? Come be my guest at the Rainier Club in downtown Seattle at a gathering of the Real Estate Roundtable. Dr. Stan Humphries (Zillow's head of data & analytics) is the guest speaker. He'll be comparing the Seattle residential real estate market with the rest of the country.
While supplies last.

Please email me at spencer AT zillow DOT com to rsvp.
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housing data: Zillow house price data vs NAR vs OFHEO vs Case-Schiller - 04/10/08 11:08 AM

Zillow has made a name for itself by becoming a major supplier of housing data to the media over the last two years. Our major point of differentiation versus the other guys is that the Zillow Housing Index (“Zindex”) measures the median value of ALL homes, not just those that have sold. This is a big deal, because changes in the TYPE of home that is selling can distort analyses. For example, imagine a grocery store that suddenly starts selling more candy bars and fewer steaks. If you just looked at the median sale price at the grocery story, it would … (10 comments)

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