home values: Home Inventory Dwindles Into The New Year
- 12/23/10 03:23 AM
Existing Home Sales jumped another 6 percent in November, the report’s third month of improvement since bottoming in July. According to the National Association of REALTORS®, a quarter-million more existing homes were sold during the annual period ending in November as compared to October. An “existing home” is a home that cannot be considered new construction. Additionally, the national housing supply dropped by a full month. At the current pace of existing home sales, the complete stock of homes for sale will be exhausted in 9.5 months. November’s strong housing data is yet another signal to buyers in Houlton that the … (2 comments)
home values: Home Affordability Reaches Record-Levels… Last Quarter.
- 12/09/10 04:49 AM
Last quarter, with home prices still relatively low and mortgage rates making new, all-time lows almost weekly, the cost of home ownership was extraordinarily low in Maine and most U.S. markets. According to the National Association of Home Builders’ quarterly Home Opportunity Index, 72.5 percent of all new and existing homes sold between June-September 2010 were affordable to families earning the national median income. This ties the all-time high for home affordability, set in the first quarter of 2009. The data also underscores that, when compared to historical norms, it’s a fantastic time to be a Houlton home buyer. Prior … (0 comments)
home values: September’s Case-Shiller Index Reflects A Slowing Housing Market
- 12/01/10 11:29 PM
Standard & Poors released the September Case-Shiller Index Tuesday. The Case-Shiller Index is a home-value tracker. The report shows home prices down 0.7% from August and values fading, in general. Case-Shiller representatives assessed the findings as “another weak report; weaker than last month”, citing deterioration in 18 of 20 tracked markets. Upward pricing momentum from the summer is slowing and values remain 30% off the market’s June 2006 peak. It could spell bad news for home sellers in Belfast this winter. That said, the Case-Shiller Index is imperfect; its methodology flawed. The index is not meant for use by individual … (1 comments)
home values: Pending Home Sales Data Points To Higher Home Prices This Fall
- 10/05/10 06:25 AM
Consistent with calls of a housing rebound, the Pending Home Sales Index rose again in August. It marks the second straight month of improvement after May’s post-tax credit drop-off. A “pending home” is an existing home under contract to sell, but not yet closed. According to the National Association of REALTORS®, 4 out of 5 pending homes close within 60 days, and many more close within 90 days. For this reason, the Pending Home Sales Index is an excellent forward-indicator for housing. As a real-life illustration, after July’s 27% plunge to an 11-year low, Existing Home Sales recovered 8 percent in … (0 comments)
home values: Case-Shiller Shows Slowing Growth In Home Prices… Two Months Ago
- 09/29/10 02:02 AM
For the 17th straight month, the Case-Shiller Index reports that home values are rising across the United States. As compared to June, July’s prices were up by 4 percent. However, despite the improvement, July’s Case-Shiller Index showed weaker as compared to prior months. In June, just 3 cities posted year-to-year reductions in home value. In July, 10 of 20 did. In June, just 1 city posted a month-to-month reduction in home value. In July, 7 of 20 did. As a spokesperson for Case-Shiller said, values “crept forward” in July. But not that it matters — the Case-Shiller Index is a … (0 comments)
home values: Case-Shiller Posts 16th Straight Month Of Home Price Improvement
- 09/01/10 03:25 AM
According to the Standard & Poors Case-Shiller Index, home values rose 5 percent in June versus the month prior, and 4 percent from a year earlier. It's the 16th consecutive month in which Case-Shiller reported an increase in home values and the third straight month of outstanding results. That said, homeowners and home buyers in Houlton would do well to temper Case-Shiller enthusiasm. The June figures are issued on 60-day delay and, over the last 60 days, housing data has been lackluster at best. Existing Home Sales are down 27 percent New Home Sales are down 12 percent Homebuilder confidence … (0 comments)
home values: Existing Home Sales Plummet In July; Home Buyers Gain Leverage
- 08/25/10 02:02 AM
The number of home resales plunged by 1.4 million units in July, according to the National Association of Realtors®’ Existing Home Sales report. It’s a drop of 27 percent from June; single-family home resales are at the report’s lowest levels since May 1999. Furthermore, because of the sharp drop in sales volume, home inventories are spiking. Homes for sale nationwide fell just short of 4 million units in July and, at the current sales paces, it would take 12.5 months for the existing inventory to be absorbed. Home supply was just 8.9 months in June. For home sellers in Belfast , … (4 comments)
home values: What’s Ahead For Mortgage Rates This Week : August 16, 2010
- 08/16/10 02:02 AM
Mortgage markets worsened last week, putting a pause on the mortgage rate rally that dates to mid-April. Mortgage rates rose across Maine last week and home affordability suffered. The Refi Boom remains in full effect, but rates are not as dazzling as they were a week ago. It’s somewhat strange that mortgage rates rose last week given the heavy dose of negative-bending news. The Federal Reserve noted that the economy “has slowed“ New unemployment claims rose to a 6-month high Retail sales — excluding auto sales — rose less than expected Mortgage rates often to fall on such news, but last … (0 comments)
home values: Home Values Within 12.5 Percent Of April 2007 Peak, Nationwide
- 08/06/10 02:43 AM
According the Federal Home Finance Agency’s Home Price Index, home values are now off just 12.5 percent from their April 2007 peak nationwide. This, after a half-percent monthly increase in prices in May, on average. Given the state of the market since April 2007, the Home Price Index results are a positive for both the housing market and the economy, but we have to remember that May’s half-point increase is an average, and not specific to a particular area. In contrast to “national markets”, the real estate markets in which you and I live are decidedly local. It’s a major … (0 comments)
home values: Case-Shiller Shows Home Price Improvement In 95% Of Cities
- 07/28/10 02:03 AM
Standard & Poors released its Case-Shiller Index Tuesday. On a seasonally-adjusted basis, between April and May 2010, home prices rose in 19 of Case-Shiller's 20 tracked markets. It's the second straight month of strong Case-Shiller findings. Also, May's numbers are a mirror-image of February's. In February, 19 of 20 markets lost value. In its press release, the Case-Shiller staff resisted calling May's data proof of a housing recovery, noting that home values remain flat as compared to October of last year. However, there are some noteworthy numbers in the Case-Shiller report. 13 of the 20 tracked cities are showing home … (2 comments)
Existing Home Sales jumped another 6 percent in November, the report’s third month of improvement since bottoming in July.
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