This morning,the S&P/Case-Shiller Index report for November was released showing US home prices decreased from the month before as well as the year before. The 10-city and 20-city composites fell by 1.3 percent each and the home price indexes were down 3.6 percent and 3.7 percent respectively from the year before. For a second consecutive month,19 of 20 cities covered by the indices also saw home prices decrease. [...]
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 | A report released this morning by CoreLogic,one of the nations leading providers of property information shows that home prices in the U.S. fell in November 4.3 percent from the year before and declined by 1.4 percent from the month before marking the fourth consecutive monthly decline in home prices. [...] Ah the beauty and splendor of Hawaii! Living in paradise comes at a price though as Hawaii,by far,leads the nation in average loan amount on a home,coming at $677,299 according to a report just released by LendingTree.com. Coming in a rather distant second is Washington D.C. at $393,453,followed by New Jersey at $344,240 and New York at $340,124. At the other end of the spectrum,Mississippi has the lowest average home loan at $137,182. The national average is $222,261. [...] While losing $700 Billion in value in U.S. homes in a year sounds horrible,the good news is,if we end this year around this number the total loss in home values for 2011 will be smaller than the prior four years! This information is from the newly released Zillow Real Estate Market Reports,which also predicts that nine metro areas will see gains in home values this year once the final numbers are in! With all this “good”news,we have to ask ourselves…is the worst of the real estate market crash over? I think the answer is yes,at least when it comes to the housing market. [...] This morning,the S&P/Case-Shiller Index report for October was released showing US home prices decreased from the month before as well as the year before. The 10-city and 20-city composites fell by 1.1 percent and 1.2 percent respectively and the home price indexes were down 3.0 percent and 3.4 percent respectively from the year before. [...] A report released this morning by CoreLogic,one of the nations leading providers of property information shows that home prices in the U.S. fell in October 4.4 percent from the year before and declined by 1.1 percent from the month before marking the third consecutive monthly decline in home prices. [...] “We may indeed being seeing the beginning of at least a ‘soft landing’in housing,”said Michael Feder,President and CEO of Radar Logic. The latest housing market report by RadarLogic contained said,while trends in home prices remain negative in most major U.S. metropolitan areas,there are indications that market conditions are starting to improve. [...] This morning the National Association of REALTORS released a report showing the median sales price of homes for metropolitan areas throughout the U.S. in the third quarter as well as a report showing total home sales by state for the quarter. The reports showed mixed results,with metro median home prices in the U.S. declining by 4.7 percent from a year ago and total home sales in the U.S. increasing 17.0 percent from a year ago. [...] A report released this morning by CoreLogic,one of the nations leading providers of property information shows that home prices in the U.S. fell in September 4.4 percent from the year before and declined by 1.1 percent from the month before marking the second consecutive monthly decline in home prices. [...] Despite massive loss of value over the last few years,the U.S. housing market has outperformed the stock market since 2000. A report released recently by RadarLogic showed that,over the past decade,the housing market,in spite of all of it’s recent troubles,has still performed better in terms of an investment than other typical investments such as the stock market. [...] The Fannie Mae National Housing Survey for September shows consumers in the U.S. remain someone pessimistic about home prices,however over two-thirds (68 percent) of American’s surveyed said they thought now was a good time to buy a home and 63 percent said if they were going to move now they would buy a home. [...] You would think after what we have seen happen in the housing market during the past 5 years,especially in the area of falling home prices,that home buyers today would not have lofty expectations about a home they buy appreciating,but apparently many do. According to a recent survey Zillow,42 percent of prospective home buyers believe home prices typically appreciate by 7 percent a year. [...] The National Association of REALTORS Pending Home Sales Index for September shows a decrease of 4.6 percent in the index from the month before (seasonally adjusted),and a 6.4 percent increase from a year ago. This is the third consecutive month the index has decreased from the month before and,and the year over year numbers continue to show decline in the rate of improvement from last year. [...] This morning,the S&P/Case-Shiller Index report for August was released showing US home prices increased for the fifth consecutive month. Both the 20-city composite and 10-city composite home price index increased by 0.2 percent from the month before. The 10 city composite home price index was down 3.5 percent from a year ago and the 20-city composite was down 3.8 percent from a year ago. [...] Today’s existing home sales report from the National Association of REALTORS® shows existing home sales in September were at at a seasonally adjusted-annual rate of 4.91 million units which is a decrease of 3.0 percent from the month before,an increase of 11.3 percent from a year ago and is the second highest rate of home sales since March 2011 when it was 5.09 million. [...] Radar Logic,a company that tracks home prices and publishes a daily market price per foot for homes as well as a source I often tap for housing market data,announced that,in cooperation with CBOE Futures Exchanges,they are introducing housing futures in the form of tradable contracts. These contracts will be based upon “RPX”,Radar Logic’s real estate price metric. [...] Clear Capital just released it’s monthly Home Data Index™ (HDI),which shows U.S. home prices increased 3.5 percent in the 3-month period ending in September compared with the prior 3-month period however that is less than the 4.0 percent increase reported the prior month showing that home price gains we have seen recently are losing their steam. [...] Dennis Norman This morning,the S&P/Case-Shiller Index report for July was released showing US home prices increased for the fourth consecutive month. Both the 20-city composite and 10-city composite home price index increased by 0.9 percent from the month before. The 10 city composite home price index was down 3.7 percent from a year [...] | ||||
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