A report just released by RadarLogic states the obvious by saying “housing is a buyer’s market” which, I think by now, we all know. However the report goes on to dig into the driving forces behind this buyer’s market and makes some interesting (and concerning) observations including the fact that, while the National Association of REALTOR’s reported that the inventory of homes for sale in January dropped to 2.31 million homes (a 6.1 month supply and the lowest level since 2006) this does not take into account vacant homes that have been held off the market, homes that have delinquent mortgages on them and are headed to foreclosure or in the foreclosure process, nor homes with underwater mortgages. This is a large pool of homes that while they are not “on the market” now, a large percentage of them likely will be in the coming months and years thereby increasing the inventory of homes for sale. [...]
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Radar Logic is a company that publishes a home price index (the RPX Index) that is based upon the price per foot homes are selling for, versus actual sale prices of homes. RPX publishes a daily RPX Composite price index for 25 major metropolitan areas in the U.S. based upon this square foot methodology and [...]
Dennis Norman Just as we are talking more about home prices “stabilizing” there is yet another cause for concern as to just where the market is headed. Last week Celia Chen, senior director of the Moody’s Economy.com research staff, issued a report stating that the odds of a near-term “double-dip recession” have increased from [...]
Dennis Norman According to a report issued by Radar Logic Incorporated government-sponsored enterprises (GSEs) and Federal agencies involved in housing finance currently have an inventory of over 200,000 repossessed homes. Being the largest owner of foreclosed homes in the U.S. gives the government a lot of power and influence over the housing market for [...] Dennis Norman According to the Housing Market Report that was issued this morning by Radarlogic, home prices increased in June from the previous month in 23 out of the 25 metropolitan areas tracked by their company. Overall the composite for all 25 metros showed a 3% gain in price from May to June representing [...] Dennis Norman By: Dennis Norman Say What??? How could home sales have increased six-fold but yet we are still in the midst of a major recession in the U.S.? For starters, the statistic I’m quoting come from the Radar Logic housing market report for January 2009. In their report for January 2009 their report [...] By: Dennis Norman Just in case you haven’t heard enough about real values median prices and the like I have another housing report to talk about. Yesterday Radar Logic published it’s report on October home prices for 25 metropolitan areas. Radar Logic has only been publishing this housing report since 2000 so they are a fairly newcomer [...] |
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