tracy real estate: 5 Projections of Where the Housing Market's Headed
- 06/26/12 02:47 AM
Real estate markets across the country are inching their way to a slow recovery after bottoming out, according to several real estate economists who spoke at a forum hosted by the National Association of Real Estate Editors. National Association of REALTORS®’ Chief Economist Lawrence Yun, Zillow Chief Economist Stan Humphries, and National Association of Home Builders Chief Economist David Crowe shared their views on the direction of the housing market during the forum. "Last year was the worst year on record for [new] house sales, for 60 years of housing-sale info," Crowe said. But things are picking up, the economists note, … (0 comments)
tracy real estate: Home Prices to Rise 4% Per Year?
- 05/09/12 04:34 AM
Have home prices finally hit bottom? Many analysts think so. According to the latest forecast by Fiserv, the market watcher sees a big boost to home prices on the horizon, projecting that home prices will rise nearly 4 percent per year for the next five years. The real estate markets expected to see the biggest increases in home prices will likely be those hardest hit the last few years by foreclosures, such as in Phoenix and Las Vegas, and areas where prices have fallen the most, according to Fiserv’s forecast. Housings rising affordability mixed with falling inventories of for-sale homes are … (1 comments)
tracy real estate: Survey Shows More Reason to Buy Than Rent
- 05/07/12 10:46 AM
Thirty-three percent of Americans say they expect home prices to rise in the next 12 months, the highest level in more than a year, according to Fannie Mae’s March 2012 National Housing Survey of consumer attitudes about the housing market. The number of people who say now is a good time to buy is also on the rise, increasing to 73 percent—also the highest level in more than a year. The percentage who said it's a good time to sell a home also increased one point to 14 percent in March. Meanwhile, more Americans expect rental prices to rise and are … (1 comments)
tracy real estate: Construction spending rises in March
- 05/02/12 11:20 AM
Construction spending during March was estimated at a seasonally adjusted annual rate of $808.1 billion, 0.1 percent above the revised February estimate of $807.3 billion. The March figure is 6 percent above the March 2011 estimate of $762.6 billion, according to the U.S. Census Bureau of the Department of Commerce.Residential construction was at a seasonally adjusted annual rate of $244.1 billion in March, 0.7 percent above the revised February estimate of $242.5 billion. … (0 comments)
tracy real estate: Bidding Wars Catch Buyers Off-Guard
- 04/30/12 11:41 AM
Home buyers are unexpectedly finding more competition this spring in landing their dream home. Bidding wars are increasingly being reported in markets across the country, from California to Florida, The Wall Street Journal reports. "It's a little surprising because we thought bidding wars were done with," Andy Aley, a home shopper in Seattle, told The Wall Street Journal. Aley says he was outbid on a home earlier this year, even though he offered to pay $23,000 above the listing price and also waive inspections and other closing conditions. Home buyers are frustrated and caught off-guard about the bidding wars re-emerging, real … (1 comments)
tracy real estate: 6 Best Housing Bets for Investors
- 03/27/12 12:42 PM
Realtor.com recently released its picks for top investment markets, based on February 2012 data of 146 markets on housing inventories, price trends, and unemployment rates. The following are the six housing markets that came out on top as best investments: 1. Tucson, Ariz. Median list price: $170,000 2. Austin, Texas Median list price: $229,500 3. Kansas City, Mo. Median list price: $134,950 4. Baltimore, Md. Median list price: $239,500 5. Fort Worth, Texas Median list price: $160,000 6. Salt Lake City, Utah Median list price: $195,000 … (3 comments)
tracy real estate: Have Home Prices Finally Reached Bottom?
- 03/23/12 05:57 AM
“Prices are bottoming now,” according to a Bank of America Merrill Lynch forecast, released this week. In the fall, the analysts had predicted home prices would drop by 8 percent from the second quarter of 2011 through the first quarter of 2013 — but now they’re revising that forecast, realizing the housing market is stabilizing faster than they originally thought. The analysts now predict that prices will remain flat for the next two years, as the excess foreclosure inventory is absorbed. They then expect to see a pickup in home prices by 2014. And in the long-term, they see a big … (1 comments)
tracy real estate: More Real Estate Pros Optimistic About Home Prices
- 03/22/12 08:19 AM
The number of real estate professionals who say home prices will rise in the next six months has more than doubled in one quarter, according to a new survey by HomeGain. Indeed, 37 percent of those surveyed in 2012 by HomeGain say prices will rise in the next six months--compared to 15 percent who said they expected a rise in the fourth quarter of 2011. A growing confidence among real estate professionals is emerging, housing experts say. The growing confidence coincides with the nationwide housing inventory falling to its lowest level since March 2005 and home sales steadily rising over the … (0 comments)
tracy real estate: Buying is Cheaper Than Renting in Nearly All Major Cities
- 03/22/12 08:17 AM
Home buying is the smarter choice than renting, according to Trulia’s Winter 2012 Rent vs. Buy Index. Buying a home is more affordable than renting in 98 of the nation’s 100 largest metro areas, according to the index, which tracks asking prices for rental units compared to for-sale homes in major metro areas. The only two metros out of the 100 tracked where renting was found to be the better deal: Honolulu and San Francisco. Still, the index notes that if you plan to stay in those markets more than five years, you might still be better off owning than renting … (1 comments)
tracy real estate: New-Home Market Shows Steady Improvement
- 03/21/12 01:58 AM
New builders are are on a building frenzy in my local neighborhood. Standard Pacific just launched their new site here in Mountain House . If you are interested in New homes in Mountain House, Tracy, Livermore or Lathrop drop me a line! After a surge last month, housing starts dropped in February by 1.1 percent, the Commerce Department reported Tuesday. However, the slip was offset by a hopeful sign for builders that a recovery is still on track: Permits for future construction soared 5.1 percent, reaching its highest level in more than three years. Permits for single-family homes increased 4.9 percent … (0 comments)
tracy real estate: New-Home Inventory Shrinks to Record Lows
- 02/27/12 10:55 AM
Inventory of new homes on the market shrank to its lowest point on record in January, marking a 5.6-month supply at the current sales pace, the Commerce Department reports. With fewer homes available, the price of new homes increased slightly last month. The median price for a new home ticked up slightly at 0.3 percent to $217,100, which is the highest level since October. However, January sales of single-family homes mostly stayed falt in January, falling less than 1 percent last month compared to the previous month. New-home sales reached a seasonally adjusted annual pace of 321,000 units. New-home sales were … (1 comments)
tracy real estate: Construction Spending Rises for 5th Straight Month
- 02/02/12 08:02 AM
Construction Spending Rises for 5th Straight Month The worst year for home building on record was 2011, but the year ended with a surge in construction spending, as the new-home sector heads into 2012 on a brighter note. For the fifth straight month, builders spent more on homes and projects, the Commerce Department reported Wednesday. Construction projects increased 1.5 percent in December to a seasonally adjusted annual rate of $816.4 billion -- the highest level in nearly two years. “The gains coincide with other signs that show the troubled housing industry may be improving,” the Associated Press reports. “Builders are more … (0 comments)
tracy real estate: Fed: Interest rates should stay low until late 2014
- 01/26/12 03:06 PM
Fed: Interest rates should stay low until late 2014 WASHINGTON -- The Federal Reserve signaled Wednesday that a full economic recovery could take nearly three more years, and it went further than ever to assure consumers and businesses that they will be able to borrow cheaply well into the future. The central bank said it would probably not increase its benchmark interest rate until late 2014 at the earliest -- a year and a half later than it had previously said. The new timetable showed the Fed is concerned that the recovery remains stubbornly slow. But it also thinks inflation … (4 comments)
tracy real estate: Building permits, housing starts rise in December
- 01/25/12 02:02 PM
Building permits, housing starts rise in December Building permits for single-family homes rose 1.8 percent in December to a rate of 444,000 units compared with November, according to a joint release by the U.S. Census Bureau and the Dept. of Housing and Urban Development. Single-family housing starts rose 4.1 percent to a seasonally adjusted annual rate of 657,000. An estimated 611,900 housing units were authorized by building permits in 2011. This is 1.2 percent above the 2010 figure of 604,600. Approximately 606,900 housing units were started in 2011. This is 3.4 percent above the 2010 figure of 586,900. … (6 comments)
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