Statistical Indicators

Real Estate Veteran Reveals Five Trends to Watch in a Struggling Market

Posted on Monday, July 04, 2011

Greg Rand, a 20-year real estate veteran and author of Crash Boom (Career Press), recently divulged five new trends in the struggling housing market. “The secret to making sure your real estate doesn’t turn into a money pit is to watch the trends, so you can predict where the prices will rise and w...

Industry Insiders Weigh in on Case-Shiller Uptick

Posted on Monday, July 04, 2011

In what Standard & Poor’s analysts described as a “welcome shift from recent months,” the closely watched S&P/Case-Shiller index showed its strongest positive movement since June of last year with the release of Tuesday’s report. The 20-city composite reading posted a 0.7 percent increase in April...

Shadows Shrink on More Distressed Sales and Fewer Delinquencies

Posted on Monday, July 04, 2011

The shadow inventory of repossessed and soon-to-be repossessed homes not yet visible to the market has been trimmed, according to new data released by CoreLogic Wednesday. The company reports that as of April 2011, the industry’s shadow supply fell to 1.7 million units, down from 1.9 million units...

FHFA Records First Monthly Uptick in Home Prices in a Year

Posted on Monday, July 04, 2011

Home prices in the U.S. rose in April for the first time since last spring, the Federal Housing Finance Agency (FHFA) reported Wednesday. The agency’s House Price Index recorded a 0.8 percent seasonally adjusted increase between March and April – the first month-over-month gain since May 2010. T...

Report: Slow Foreclosures and Oversupply Fuel Market Declines

Posted on Thursday, June 30, 2011

Backlogged foreclosures, severe oversupply, and negative equity triggered a further decline in home prices in April, according to the latest RPX Monthly Housing Market Report from Radar Logic. The New York-based real estate data and analytics company tracks home prices in 25 major metropolitan are...

Pending home sales rose strongly

Posted on Thursday, June 30, 2011

Pending home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings,...

Housing Drags Economy

Posted on Thursday, June 30, 2011

June 24, 2011 The U.S. housing market has fallen into a double-dip slump after last year’s stimulus-driven stabilization and will continue to weigh on the pace of economic recovery through the coming year. Housing-related output has fallen dramatically since the bubble burst in late 2006, detract...

Distress Claims Smaller Share of Dwindling Existing-Home Sales

Posted on Thursday, June 30, 2011

Distressed properties accounted for just 31 percent of existing-home sales in May, the National Association of Realtors (NAR) reported Tuesday. The ratio of distressed homes – typically bank-owned or pre-foreclosure short sales – took a dive last month compared to earlier in the year. May’s market...

Existing-home sales were down in May as temporary factors and financing problems weighed on the mark

Posted on Thursday, June 30, 2011

Existing-home sales were down in May as temporary factors and financing problems weighed on the market, according to the National Association of Realtors®. Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 3.8 percent to a se...

Few condos remain unsold despite housing downturn

Posted on Thursday, June 30, 2011

An oasis of stability in a struggling condo real estate market, Fort Lauderdale is continuing to outpace the tri-county area, according to a recent report. Since 2003, roughly 5,100 condominiums were created or converted in the city's downtown and beach area. Now, fewer than 2 percent of the create...

Housing Report Card Points to Future Distress

Posted on Thursday, June 30, 2011

John Burns Real Estate Consulting (JBREC) released a housing report card Thursday that confirms most key market indicators trending southerly, signaling more distress may be in store. “The existing home market continues to remain weak, with most indicators still grading at poor levels and almost al...

Fed Voices Concern Over Chronic Weakness in Real Estate Markets

Posted on Thursday, June 30, 2011

Ongoing deterioration in real estate markets and rising levels of distressed residential and commercial properties are areas of acute concern for officials at the Federal Reserve. “[R]eal estate conditions have remained weak and adversely affected the performance of many banks,” Michael R. Foley, ...

Home Sales Dampened by Declining Consumer Confidence

Posted on Thursday, June 30, 2011

According to Freddie Mac’s latest market outlook, over the first four months of 2011, sales of existing homes are up 5 percent from the pace of 2010 — in line with the GSE’s earlier projections of a 5 percent annual increase in existing-home sales this year. Regardless, Freddie’s economists say go...

Fed's Beige Book Paints Shades of Improving Credit Quality

Posted on Thursday, June 30, 2011

The Federal Reserve published a new rendition of its popular Beige Book on Wednesday, relaying insight from professionals in the field on regional market conditions. A number of Fed districts noted improvements in overall credit quality, specifically Philadelphia, Cleveland, Richmond, Kansas City,...

Economic Recovery To Lose Steam As Inflation Arrives, Federal Reserve Says

Posted on Thursday, May 05, 2011

The Federal Reserve said growth will lag this year as the central bank finally acknowledged Wednesday what most Americans have long since realized: “Inflation has picked up.” The Fed’s statement, a customary event at the conclusion of every policy meeting, is the status update traders, bankers, bus...

Precursor to Existing-Home Sales Heads Higher

Posted on Thursday, May 05, 2011

Precursor to Existing-Home Sales Heads Higher Pending sales of existing homes rose again in March, according to data released Thursday by the National Association of Realtors (NAR). The trade group’s monthly reading of contract signings – which is a forward-looking indicator of where sales of prev...

Pending Homes Sales

Posted on Monday, April 04, 2011

Washington - Pending home sales increased in February but with notable regional variations, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator, rose 2.1 percent to 90.8, based on contracts signed in February, from 88.9 in January. The inde...

Case-Shiller Index Records Another Drop in Home Prices

Posted on Monday, April 04, 2011

Data released this morning by Standard & Poor’s show that the 20-city composite reading of the S&P/Case-Shiller home price index fell 1.0 percent in January 2011 when compared to the previous month. The 20-city composite is down 3.1 percent from its January 2010 level. San Diego and Washington D....

Home Prices Fall Again -- 11 Cities Where Home Prices Hit New Lows

Posted on Monday, April 04, 2011

The much-feared "double-dip" in housing may finally be here, as home prices in 11 major U.S. cities reached new lows in December, according to data released today. Home prices across 20 major U.S. cities have fallen drastically over the last year, according to the S&P/Case-Shiller Home Price Index ...

U.S. Housing Prices Fell Again in January

Posted on Monday, April 04, 2011

The housing market remains mired in trouble, with plummeting prices and slumping sales. First-time buyers are fleeing, sellers are frustrated, builders are depressed and lenders are skittish about making new loans. “The numbers are gloomy, no question,” said the economist Karl E. Case. “We’re boun...

March pending home sales up in Miami-Dade, Broward

Posted on Monday, April 04, 2011

The number of home sales now pending is up in Miami-Dade and Broward counties, according to the Miami Association of Realtors. Miami-Dade is experiencing the biggest boost, with total pending sales – including single-family homes and condominiums – rising 18 percent, year-over-year in March, to 11,...

State by State Estimate of Shadow Inventory

Posted on Monday, April 04, 2011

Although the foreclosure crisis at times appears like an all-encompassing national problem, there are states and metropolitan areas that are harder impacted than others. From the onset of the foreclosure crisis, four states have continually had relatively worse foreclosure problems: Arizona, Califor...

13% of all U.S. homes are vacant

Posted on Monday, April 04, 2011

NEW YORK - High residential vacancies are killing many housing markets, as foreclosed homes sit on the market and depress sale prices and property values. And it's only getting worse: The national vacancy rate crept up to just over 13% according to last week's decennial census report. That's up fr...

Mortgage Contract Signings Rise In February Despite Low Home Sales

Posted on Monday, April 04, 2011

Reports have recently emerged of homeowners being sued for mortgage fraud after taking out "no-doc" loans -- mortgages that require very little documentation. Courts have even turned to a new form of "debtor's prisons." WASHINGTON -- More Americans signed contracts to buy homes in February, but s...

Radar Logic's Home Price Index Hits Lowest Mark Since 2007

Posted on Monday, April 04, 2011

The latest RPX Composite price from the New York-based real estate data and analytics firm RadarLogic, which tracks home prices in 25 metropolitan areas, declined to $179.50 per square foot in January, its lowest level since 2007. According to the company’s January 2011 RPX Monthly Housing Market ...

Pending Sales of U.S. Existing Homes Unexpectedly Climbed 2.1% in February

Posted on Monday, April 04, 2011

A gain in the number of Americans signing contracts to buy previously owned homes in February failed to make up for the ground lost a month earlier, a sign the U.S. housing market has yet to join the economic recovery. The index of pending home resales increased 2.1 percent after a 2.8 percent dro...

February Home Sales Plummet As Housing Market May Have Further To Fall

Posted on Monday, April 04, 2011

Sales of previously owned U.S. homes fell sharply in February, after several months of increases, according to a report released Monday, in an another blow to a sagging housing market that may have further to fall. Existing home sales dropped 9.6 percent from January to February to an annual rate ...

existing home sales

Posted on Monday, April 04, 2011

WASHINGTON Existing-home sales fell in February following three straight monthly increases, according to the National Association of REALTORS®. Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, dropped 9.6 percent to a seasonally...

New Home Sales Plunge To Record Low In February

Posted on Monday, April 04, 2011

WASHINGTON — Home construction in the United States is all but coming to a halt. Americans are on track to buy fewer new homes than in any year since the government began keeping data almost a half-century ago. Sales are now just half the pace of 1963 – even though there are 120 million more people...

Shadow Inventory May Deplete Quicker In Hardest Hit States

Posted on Monday, April 04, 2011

A recent report by the National Association of Realtors (NAR) reveals interesting information regarding the shadow inventory of the hardest hit states. It is pretty well known that Arizona, Nevada, California, and Florida have been most affected by the foreclosure crisis. Together the four states ...

The Housing Disconnect: Numbers keep going up and down. Is this a recovery or a double dip?

Posted on Thursday, March 24, 2011

TRENDS. All indicators MOM and YOY are (1) moving in the wrong direction (2) for enough time to be called a trend. Another trend is spreading to other states; . others included in ‘top’ foreclosure states now (CA,FL,AZ,MI,GA,TX,IL,NV,OH,WI). Prices were down in 18 states 6 months ago. Now 4...

Sales of Previously Owned Homes Slump 9.6%

Posted on Tuesday, March 22, 2011

Existing-home sales fell in February following three straight monthly increases, according to data released by the National Association of Realtors (NAR) Monday. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, dropped 9.6 percen...

Nevada's Boom Ends In Record Number Of Empty Homes

Posted on Sunday, March 20, 2011

LAS VEGAS -- The promise of palm tree groves and low-priced real estate lured Alan and Katherine Ackerly across the Rocky Mountains from Denver to Nevada in 2004, where thousands of new houses beckoned brightly as any neon sign. They came to buy their retirement home. But the real estate bust took ...

Housing Starts Drops To Lowest Rate Since 1984; Building Permits Lowest On Record

Posted on Sunday, March 20, 2011

Housing starts posted their biggest decline in 27 years in February while building permits dropped to their lowest level on record, suggesting the beleaguered real estate sector has yet to rebound from its deepest slump in modern history. Groundbreaking on new construction dropped 22.5 percent last...

Zillow: S. Fla. home values down in January

Posted on Friday, March 18, 2011

South Florida home values fell 14.5 percent, year-over-year, in January, to a Zillow Home Value Index of $138,600, according to data from the Seattle-based online real estate company. By comparison, home values nationwide fell 7.3 percent, to an index value of $172,182. The index measures the valu...

Foreclosure Activity Sinks to Three-Year Low

Posted on Friday, March 18, 2011

New data from RealtyTrac shows that foreclosure filings nationwide dropped 14 percent between January and February, as overall activity last month sunk to its lowest level since February of 2008. RealtyTrac says total foreclosure filings – including default notices, scheduled auctions, and bank rep...

FHFA Home Price Index Records Largest Quarterly Drop in Over a Year

Posted on Thursday, March 17, 2011

The Federal Housing Finance Agency (FHFA) reports that home prices nationally dropped 0.8 percent in the fourth quarter of 2010 when compared to the previous three-month period. FHFA’s index is calculated using home sales price information from mortgages acquired by Fannie Mae and Freddie Mac. O...

NAR's Pending Home Sales Index Drops 2.8%

Posted on Thursday, March 17, 2011

Industry data released Monday showed that the number of homebuyers who signed contracts in January for the purchase of previously owned homes declined from both the previous month and year-ago levels. The National Association of Realtors (NAR) says its January index of pending home sales is down 2....

Home Price Declines Moderate, Except in the West: Report

Posted on Thursday, March 17, 2011

New data from Clear Capital indicates that the slow-down in foreclosure activity may be having a positive effect on property values in some parts of the country. However the company’s report states that despite a national trend toward flattening of home prices, the western United States is draggin...

Foreclosure Sales in January Up, Permanent Mods Down

Posted on Thursday, March 17, 2011

Data released Thursday from HOPE NOW shows that while permanent loan modifications outpaced foreclosure sales in the month of January, the gap between the two is getting smaller. In January there were around 101,000 permanent loan modifications completed, down from 111,000 in December 2010. There w...

Discrepancies in Home Sales Data Illustrate Market Volatility

Posted on Wednesday, March 16, 2011

They say “it’s all in the numbers,” but what if the numbers don’t match up, in fact don’t even come close, even when comparing apples to apples – in this case nationwide homes sales to nationwide home sales? The real estate data and analytics firm CoreLogic has released a market report in which th...

Rising Home Sales Don't Offset Lagging Confidence in Market

Posted on Wednesday, March 16, 2011

Amid reports of home sales being boosted, the reality remains that the market is in a dark place. Sales prices are down, and though mortgage rates remain at record-lows, few people are qualifying for loans under the strict standards banks have in place. Add to that list the woes of real estate agen...

HOME SALES STATISTICS

Posted on Wednesday, March 16, 2011

-- More people bought previously occupied homes in January. But sales surged on a rising number of foreclosures and all-cash deals, and not first-time home-buyers. The rising number of distressed sales forced home prices down to the lowest level in nearly nine years, a troubling sign for the strugg...

5 Most Affordable Housing Markets

Posted on Wednesday, March 16, 2011

Buying a home in Ohio is very affordable, according to a recent article at CNNMoney.com, which reveals the five metro areas where the average family can easily afford to buy a median-priced home. Ohio cities claimed three of the five spots. Here are the most affordable housing markets, accordi...

Housing Starts Jump 14.6% in January

Posted on Wednesday, March 16, 2011

Housing starts in January reached their highest rate in four months, increasing more than analysts expected, the Commerce Department reports. Housing starts jumped 14.6 percent to a seasonally adjusted annual rate of 596,000 units. Housing starts in January were helped by a 77.7 percent jump in ...

U.S. GDP Revised Down To 2.8% From 3.2%

Posted on Wednesday, March 16, 2011

WASHINGTON - The economy grew slower than initially estimated in the fourth quarter as government investment contracted more sharply and consumer spending was less robust, a government report showed on Friday. Gross domestic product growth was revised down to an annualized rate of 2.8 percent, the ...

Home Sales Data Doubted

Posted on Tuesday, March 15, 2011

The housing crash may have been more severe than initial estimates have shown. The National Association of Realtors, which produces a widely watched monthly estimate of sales of previously owned homes, is examining the possibility that it over-counted U.S. home sales dating back as far as 2007. T...

Metropolitan Area Existing-Home Prices and State Existing-Home Sales

Posted on Thursday, February 17, 2011

The Quarterly Reports NAR releases statistics on state-by-state existing-home sales and metropolitan area median home prices each quarter. The state existing-home sales report includes single-family houses, condos and co-ops. The price report reflects sales prices of existing single-family homes by...

6 Real Estate Markets Poised for Recovery

Posted on Thursday, February 17, 2011

While home prices continue to fall in many markets across the country, CNNMoney.com has compiled a list of cities that are expected to defy that trend. Here are six metro areas expected to record some of the largest price gains in real estate by 2012: 1. Tacoma, Wash. Median home price: ...

American Dream of Home Ownership Still Strong

Posted on Thursday, February 17, 2011

Three out of four home owners — or 78 percent — say their homes are the best investment they ever made, according to Trulia.com’s biannual American Dream survey, which has tracked attitudes toward home ownership since 2009. Despite foreclosures and underwater homes continuing to batter the real...

Economists see rough year for housing starts

Posted on Wednesday, February 16, 2011

ORLANDO, FLA. (Feb. 15, 11:50 a.m. ET) — The forecast for housing starts for 2011 is sobering, no matter what economist you ask, or in what context you place those forecasts. So it’s likely to be a rough year ahead for many companies that supply the building and construction industry, particularly ...

NEW HOME STARTS AND PERMITS

Posted on Wednesday, February 16, 2011

check out the clip on CNBC today! Today’s Release: Covers January 2011 Real news is in multi-family Permits: 562K. Down 10.4% MOM (from December 2010 @627K). Down 10.7% YOY (from January 2010 @ 629K). SF 421K Down 4.8% MOM (from December 2010 @ 442K). MF January 2011 @ 125K. Expected after la...

NEW RESIDENTIAL CONSTRUCTION IN JANUARY 2011

Posted on Wednesday, February 16, 2011

FOR IMMEDIATE RELEASE WEDNESDAY, FEBRUARY 16, 2011 AT 8:30 A.M. EST CB11-29 Erica Filipek or Stephen Cooper Manufacturing and Construction Division (301) 763-5160 NEW RESIDENTIAL CONSTRUCTION IN JANUARY 2011 The U.S. Census Bureau and the Department of Housing and Urban Development jointly ann...

Home Sales Increased in Q4, Expected to Continue Throughout 2011

Posted on Wednesday, February 16, 2011

On Thursday the National Association of Realtors (NAR) reported that home sales increased in 49 states during the fourth quarter of 2010, with 78 markets experiencing price gains from the fourth quarter of 2009. Despite sale price declines in 71 metropolitan areas, the national average of home sal...

Worst Housing Markets For 2011: Clear Capital Markets

Posted on Wednesday, February 16, 2011

Property prices could fall back to crash levels in some cities. Despite signs of recovery, house prices are expected to fall by as much as 13 percent in some areas, thanks to a combination of high unemployment, and the large number of bank-owned homes, which often sell at much lower prices. Clear ...

5 States With Biggest Gain in New Home Closings

Posted on Monday, February 07, 2011

States that once topped charts for new home sales gains are absent from this year’s list, according to new research from Housing Intelligence. While California, Nevada, Arizona, and Florida are handling a flood of distressed properties, states with strong employment growth are emerging as the stro...

Housing Bubbles Are Few and Far Between

Posted on Monday, February 07, 2011

WHAT’S the outlook for home prices over the next decade? It’s not easy to tell. We need to confront the basic fact that near the beginning of the 21st century, the market for homes in much of the world suddenly became more speculative than ever. This enormous housing bubble and burst isn’t com...

Housing recovery may be delayed a year

Posted on Friday, February 04, 2011

Robo-signing, fraud and other documentation concerns that prompted some lenders to turn off the spigot of foreclosures temporarily last fall will likely stall housing recovery for a year. That was the prediction Friday from well-known economist Mark Vitner, who was among the speakers at an econom...

Pending Sales of Existing Homes Rise 2%: NAR

Posted on Friday, February 04, 2011

The number of contracts signed for purchases of previously owned homes rose again in December, according to data released by the National Association of Realtors (NAR) Thursday. The trade group’s pending home sales index increased 2.0 percent compared to its November reading, which was revised down...

December signed contracts for homes up 2 percent

Posted on Friday, February 04, 2011

The number of people who signed contracts to buy homes rose in December, marking the fifth increase in the past six months. The National Association of Realtors said Thursday that its index of sales agreements for previously occupied homes rose 2 percent last month. The index had posted a 3.1 ...

STATISTICAL INDICATORS - PENDING HOME SALES CONTINUE UPTREND

Posted on Friday, February 04, 2011

Pending home sales improved further in December, marking the fifth gain in the past six months, according to the National Association of Realtors® The Pending Home Sales Index,* a forward-looking indicator, increased 2.0 percent to 93.7 based on contracts signed in December from a downwardly revise...

New Home Sales Hit 8-Month High

Posted on Monday, January 31, 2011

WASHINGTON: New single-family home sales raced to their highest level in eight months in December while prices were the highest since April 2008, raising cautious optimism for a housing market recovery. The Commerce Department said on Wednesday sales jumped 17.5 percent to a seasonally adjusted 329...

PENDING HOME SALES CONTINUE UPTREND

Posted on Friday, January 28, 2011

Pending home sales improved further in December, marking the fifth gain in the past six months, according to the National Association of Realtors® The Pending Home Sales Index,* a forward-looking indicator, increased 2.0 percent to 93.7 based on contracts signed in December from a downwardly revise...

Florida loses 8,500 construction jobs in December

Posted on Thursday, January 27, 2011

Florida lost 8,500 construction jobs in December, falling to 338,400 from 346,900 in the previous month. And, between December 2009 and December 2010, the Sunshine State lost a whopping 20,200 construction jobs, according to employment figures compiled by the Associated General Contractors of Americ...

FORECLOSURE STATISTICS - Slow Loan Resolutions Extend Shadow Inventory's Staying Power: S&P

Posted on Thursday, January 27, 2011

The volume of distressed residential properties in the United States is the primary factor hindering a full recovery in the country’s housing market, according to Standard & Poor’s (S&P). Given the pace of defaults during the housing downturn, the market’s inability to quickly absorb the excess vo...

Case Shiller Released Jan 2011

Posted on Thursday, January 27, 2011

S&P/Case-Shiller Home Price Indices - & FiServ U.S. Home Prices Keep Weakening as Nine Cities Reach New Lows According to the S&P/Case-Shiller Home Price Indices New York, January 25, 2011 – Data through November 2010, released today by Standard & Poor’s for its S&P/Case-Shiller1 Home Price I...

Dramatic Decline in Hotel Capitalization Rates Reflects Shift in Market Sentiment

Posted on Wednesday, January 26, 2011

The increase in hotel transactions and low cost of debt and equity have driven down rates of return to pre-recession levels. This article sets forth an overview of recent hotel cap and discount rate trends and provides an outlook for 2011. The hotel investment market has taken a 180 degree turn ove...

Treasury's Toxic Asset Funds Up 27 Percent

Posted on Tuesday, January 25, 2011

The U.S. Treasury's toxic asset funds have gained 27 percent since they were created to help revive the mortgage-backed securities market, according to data expected to be released later on Monday. As part of the government's deeply unpopular $700 billion bailout program, the funds were set up to r...

Trust in Financial Industry Rising, Distrust in Mortgage Lenders Remains

Posted on Tuesday, January 25, 2011

A recent report by the Chicago Booth/Kellogg School shows around 26 percent of Americans have faith in America’s financial system. And though that number doesn’t seem to be that impressive, it is, says the Financial Trust Index, which was released Monday. In January 2009, when the Chicago Booth/Ke...

2010 weakest year for home sales since 1997

Posted on Friday, January 21, 2011

Fewer people bought previously owned homes last year than in any year since 1997. But home sales in December jumped to fastest pace in seven months. The National Association of Realtors says sales fell 4.8 percent to 4.91 million units in 2010, the weakest performance in 13 years. Home prices ...

Existing-Home Sales Soar to Seven-Month High

Posted on Friday, January 21, 2011

Sales of previously owned homes surged 12.3 percent in December, according to data released by the National Association of Realtors (NAR) Thursday. Existing-home sales have increased five of the last six months and have now hit a seven-month high, at a seasonally adjusted annual rate of 5.28 millio...

2010 Was The Weakest Year For Home Sales Since 1997

Posted on Friday, January 21, 2011

WASHINGTON — The number of people who bought previously owned homes last year fell to the lowest level in 13 years. But home sales in December jumped to fastest pace in seven months. The National Association of Realtors says sales dropped 4.8 percent to 4.91 million units in 2010. That was slightly...

Housing Starts Fall To Lowest Level Since 2009

Posted on Friday, January 21, 2011

WASHINGTON: Groundbreaking on new U.S. home construction fell more than expected in December to its lowest in over a year, suggesting the battered housing sector remains a major roadblock to economic recovery. U.S. housing starts dropped to an annual rate of 529,000 units, the Commerce Department s...

Miami Home Sales Rise 18% in December

Posted on Friday, January 21, 2011

MIAMI -- Sales of existing single-family homes in the Miami metropolitan area in December were 734 vs. 623 a year earlier, a increase of 18%. Meanwhile, December sales in Miami rose 70% from December 2008, according to the Miami Association of Realtors and the Southeast Florida Multiple Listing Se...

Moody's: CMBS Loan Delinquencies Soar 79% in 2010

Posted on Wednesday, January 19, 2011

The delinquency rate on loans included in conduit and fusion U.S. commercial mortgage-backed securities (CMBS) deals skyrocketed 79 percent over the past 12 months, according to Moody’s Investors Service. Delinquencies started 2010 at 4.90 percent. By the end of December, the rate of past-due loan...

Restarting the Economic Machine

Posted on Friday, January 07, 2011

"We have magneto trouble. How, then, can we start up again?" mused John Maynard Keynes in December 1930, likening the stagnant economy of the Great Depression to a broken generator in an automobile. Fear not, he wrote, the car eventually would get rolling again, and "we need not assume . . . that mo...

LPS: Foreclosure Inventory Rises for Fifth Straight Month

Posted on Friday, January 07, 2011

Recent market data analyzed by Lender Processing Services (LPS) highlights evidence of delays in the resolution of unpaid mortgages in the wake of widespread reports of robo-signing and reveals congestion in areas where delinquent loans are languishing. The clogged foreclosure pipelines servicers ...

S&P Index Records Sharpest Drop in Home Prices Since 2009

Posted on Friday, January 07, 2011

The latest home price gauge published by Standard & Poor’s recorded its largest monthly decline since February 2009 and its largest annual decline since December 2009. The data has led the firm’s top analysts to make the claim, “The double-dip is almost here.” The closely watched S&P/Case-Shiller...

Pending Sales of Existing Homes Swell by 3.5%: NAR

Posted on Friday, January 07, 2011

The number of contracts signed for purchases of previously owned homes climbed again in November, according to data released by the National Association of Realtors (NAR) late last week. The organization’s pending home sales index rose 3.5 percent based on contracts signed in November. That follo...

WSJ Version of 5 Things That Will Impact Housing

Posted on Wednesday, January 05, 2011

Last week the Wall Street Journal > published four housing-related issues to keep an eye on in 2011, which really haven't > changed much. #1 is jobs. "Who's going to buy a house when they're not certain they'll > have a job in six months and when it looks like home prices are likely to fall anoth...

6 Predictions About How The Economy Will Affect Average Americans In 2011

Posted on Wednesday, January 05, 2011

We all remember the worst of 2010: high unemployment, an ongoing foreclosure crisis and megabanks, whose legally dubious practices in foreclosing on millions of homes, managed to spread public anger and financial uncertainty. To figure out just how the economy would shape our lives in 2011, we ...

Property Appreciation Expected in 40% of Major Metro Areas in 2011

Posted on Wednesday, January 05, 2011

According to a recent update to the real estate market forecast from Veros Real Estate Solutions, select markets in the United States can expect 2.5 percent to 3.5 percent appreciation in home values over the next 12 months. Although only mild appreciation is expected, approximately 40 percent...

NAR: Existing-Home Sales Rise 5.6%

Posted on Monday, December 27, 2010

Existing-home sales got back on an upward path in November, resuming a growth trend since bottoming in July, according to the National Association of REALTORS®. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, rose 5.6 percent...

Home Sales Edge Higher but Fall Short of Forecast

Posted on Thursday, December 23, 2010

Sales of existing homes rose in November, but analysts said increased employment and better access to credit were needed before the housing market could achieve a sustained recovery. The National Association of Realtors said Wednesday that existing-home sales rose 5.6 percent to a seasonally adj...

Sales of Existing Homes Gain Ground in November

Posted on Thursday, December 23, 2010

Existing-home sales got back on an upward path in November, resuming a growth trend since bottoming in July, the National Association of Realtors (NAR) reported Wednesday. Sales of previously owned homes rose 5.6 percent last month to a seasonally adjusted annual rate of 4.68 million, according...

FHFA Home Price Index Records 0.7% Increase in October

Posted on Thursday, December 23, 2010

Home prices in the United States bounced back slightly during the month of October, according to data released by the Federal Housing Finance Agency (FHFA) Wednesday. FHFA’s house price index is calculated using purchase prices of homes backing mortgages that have been sold to or guaranteed by Fan...

Existing Home Sales rose 5.6%

Posted on Thursday, December 23, 2010

Yesterday we learned that according to the NAR, Existing Home Sales rose 5.6% to > a seasonally adjusted annual rate of 4.68 million in November from October, but > are about 28% below late 2009's levels. MBS prices finished the day roughly unchanged, > and the 10-yr closed at 3.35%, but it was a...

RE/MAX Reports Steady Housing Prices, Declining Sales

Posted on Thursday, December 23, 2010

The monthly RE/MAX National Housing Report, released Friday, shows housing prices remaining relatively stable, with sales still experiencing some declines. The survey of 54 metropolitan areas shows that November sales were 4.9 percent below October sales, and 25.9 percent below sales for November ...

Survey: Rising Rates, First-Time Homebuyers Drive Market in November

Posted on Tuesday, December 21, 2010

Rising mortgage rates helped push first-time homebuyers to buy properties in November, while investors lost some of their enthusiasm for distressed properties last month. These are two of the major findings of the latest HousingPulse Tracking Survey released by the market research firm Campbell Surv...

Housing Predictions for 2011

Posted on Tuesday, December 21, 2010

Imagine sitting on a four-legged stool and one of its legs suddenly collapses. Or, put another way, let's say one of the key organs in your body stops functioning. Obviously, you're in trouble in either case. You can say the same thing about the economic ravages from the ongoing hell in housing, wh...

Economic Signs Improve, But Housing and Unemployment Expected To Stay Weak

Posted on Monday, December 20, 2010

While signs show the economic recovery is strengthening, palpable change is still a long way off. Falling home prices and high unemployment aren't expected to significantly improve any time soon. Looking forward about six months, the economic forecast is slightly rosier than it has been, as the Lea...

Underwater homes Shrink

Posted on Tuesday, December 14, 2010

The number of U.S. homeowners who owe more on their mortgages than their homes are worth fell in the third quarter, but the decline stemmed from banks getting more aggressive on foreclosures, not from home values going up, according to trade-industry data released Monday. In Deep: Underwater Borr...

University Study Advocates Home Price Decline Protection

Posted on Tuesday, December 14, 2010

DSNews By: Joy Leopold 12/10/2010 The Robert H. Smith School of Business at the University of Maryland released a report in November detailing the urgent need for measures to stabilize the housing market. The 13 page report, titled, A Way Forward on the Housing Crisis, says that “to allow the ho...

Housing Inventory Drops in November, Still Above 2009 Numbers

Posted on Monday, December 13, 2010

A new report from ZipRealty shows the supply of homes for sale in November declined by an average of 3.78 percent in 26 major metropolitan areas that the company researched. The Emeryville, California-based ZipRealty, Inc, measures inventory from month to month and also compiles quarterly results o...

5 Predictions for 2011

Posted on Monday, December 13, 2010

Freddie Mac analysts point to five features that they believe will likely characterize the 2011 housing and mortgage markets: 1. Low mortgage rates. With Fed observers expecting the central bank to keep the federal funds rate at its current target range of 0 percent to 0.25 percent for most (or a...

Research Firm Says Housing Currently Undervalued by 14% to 17%

Posted on Wednesday, December 08, 2010

Based on the latest S&P Case-Shiller index, Capital Economics has concluded that house prices are now 17 percent undervalued relative to disposable income per capita. Housing has never before looked as undervalued, the firm pointed out in a research note released to DSNews.com. Looking at the data...

Consumers Don't Expect Housing Recovery Until 2013, Experts Agree

Posted on Wednesday, December 08, 2010

Americans continue to grapple with uncertainty about the housing market, with 58 percent of U.S. adults expecting recovery to be at least another two years away, according to the results of a new survey conducted by Trulia and RealtyTrac, which tracks homebuyers’ attitudes toward foreclosed homes...

Radar Logic Says Home Prices Not as Stable as Thought

Posted on Wednesday, December 08, 2010

Recently released information from Radar Logic Incorporated claims home prices experienced a much sharper decline than the decline shown in other companies’ reports. Radar Logic’s September 2010 RPX Monthly Housing Market Report released on Thursday shows the composite price experienced a 2.7 perc...

Peering into 2011: Five Features of Next Year’s Housing and Mortgage Markets

Posted on Wednesday, December 08, 2010

As in the past, key macroeconomic drivers of the economy – such as income growth, unemployment rate, and inflation – will affect the performance of the housing and mortgage markets in 2011. With fiscal policy supporting aggregate demand for goods and services and an accommodative monetary policy pro...

Strong Rebound in Pending Home Sales

Posted on Tuesday, December 07, 2010

Pending home sales jumped in October, showing a positive uptrend since bottoming in June, NAR says. The Pending Home Sales Index, a forward-looking indicator, rose 10.4 percent to 89.3 based on contracts signed in October from 80.9 in September. The index remains 20.5 percent below a surge to a ...

New-Home Sales Slide

Posted on Tuesday, December 07, 2010

Sales of new homes took another dip in October, sliding 8.1 percent to a seasonally adjusted annual rate of 283,000, the U.S. Department of Commerce reported last week. New-home sales are down 28.5 percent compared to October 2009. The pace was inconsistent across the country with sales in the So...

Fed's Beige Book Points to Housing as Recovery Stumbling Block

Posted on Friday, December 03, 2010

The Federal Reserve released its latest rendition of the popular Beige Book Wednesday. Economic conditions across the country were described as “continuing to improve, on balance.” On the housing front, though, contacts in the field said markets remain “depressed” and have weakened further since the...

S. Fla. foreclosure sales up, U.S. down

Posted on Friday, December 03, 2010

Despite the national moratorium that brought foreclosures to a halt in October, the speed at which lenders were filing and courts were processing foreclosures in Florida was not enough to cut into the sales of foreclosed residences in the tri-county area. And, along with that increase in sales has ...

Distressed Homes 25% of Third-Quarter Sales: RealtyTrac

Posted on Friday, December 03, 2010

New data released by RealtyTrac Thursday shows that distressed homes – including those in default, scheduled for foreclosure auction, and REO – accounted for 25 percent of all U.S. residential sales in the third quarter. These properties sold at an average of 32 percent below the price of their no...

Crandall as Most Accurate Forecaster Says This Too Shall Pass

Posted on Friday, December 03, 2010

In 1980, the U.S. economy was in the middle of a severe downturn, and jobs weren’t easy to find. So Lou Crandall, after earning a bachelor’s degree with a focus on economics from Cornell University, scattered resumes far and wide. One went to an employment agency looking for bilingual workers. Cra...

Crandall as Most Accurate Forecaster Says This Too Shall Pass

Posted on Friday, December 03, 2010

In 1980, the U.S. economy was in the middle of a severe downturn, and jobs weren’t easy to find. So Lou Crandall, after earning a bachelor’s degree with a focus on economics from Cornell University, scattered resumes far and wide. One went to an employment agency looking for bilingual workers. Cra...

Crandall as Most Accurate Forecaster Says This Too Shall Pass

Posted on Friday, December 03, 2010

In 1980, the U.S. economy was in the middle of a severe downturn, and jobs weren’t easy to find. So Lou Crandall, after earning a bachelor’s degree with a focus on economics from Cornell University, scattered resumes far and wide. One went to an employment agency looking for bilingual workers. Cra...

Pending Home Sales Rose 10.4% in October

Posted on Friday, December 03, 2010

WASHINGTON (AP) — The number of people who signed contracts to buy homes rose in October, the third gain since contract signings hit a decade low. The National Association of Realtors said Thursday that its index of sales agreements for previously occupied homes rose 10.4 percent in October. Contr...

October New Home Sales, Prices Plunge

Posted on Wednesday, December 01, 2010

WASHINGTON — New home sales tumbled in October while the median home price dropped to the lowest point in seven years. Sales of new single-family homes declined 8.1 percent to a seasonally adjusted annual rate of 283,000 units in October, the Commerce Department reported Wednesday. It was the fou...

New home sales fall in October

Posted on Wednesday, December 01, 2010

October wasn’t a good month for home builders. The U.S. Department of Commerce reports that new home sales fell 8.1 percent last month, to a seasonally adjusted annual rate of 283,000 units. In addition, the median home price fell to$194,900, the lowest level in seven years. At this sales pace, t...

FHFA Index Shows 1.6% Drop in Third-Quarter Home Prices

Posted on Wednesday, December 01, 2010

Home prices in the United States continued to fall in the third quarter, with declines widespread in most parts of the country, according to data released by the Federal Housing Finance Agency (FHFA) Wednesday. FHFA’s purchase-only house price index (HPI) is calculated using sales data from mortg...

NAR Reports Existing Home Sales Declined 2.2% in October

Posted on Wednesday, December 01, 2010

In September, when existing home sales rose 10 percent, the National Association of Realtors (NAR) released a statement announcing the numbers meant a sales recovery had begun. One short month later, and after only two months of gains, sales have slumped 2.2 percent to a 4.43 million annual rate,...

CoreLogic Home Price Index Shows Decline for Second Straight Month

Posted on Wednesday, December 01, 2010

Home prices in the United States have declined for two months in a row, according to CoreLogic’s market index, after rising for the first seven months of the year. The latest CoreLogic Home Price Index (HPI) shows that national home prices, including distressed sales, declined 2.79 percent in Sept...

CoreLogic: Shadow Inventory Jumps More Than 10% in One Year

Posted on Wednesday, December 01, 2010

The industry’s ominous shadow inventory of REOs that have yet to hit the market and soon-to-be-REOs increased by more than 10 percent between August 2009 and August 2010, according to new figures released by CoreLogic Monday. CoreLogic defines shadow inventory as the number of properties that are ...

7 Trends That Will Drive the Future of Housing

Posted on Monday, November 22, 2010

Hanley-Wood's ProSalesOnline.com identifies seven trends that the magazine’s editors believe will have the biggest impact on housing in 2011. 1. Big builders are wringing the extras out of construction costs and dropping the national average cost-to-build 36 percent to $52 per square foot. 2. ...

Private Sector to Lead CRE Recovery, Jones Lang LaSalle Predicts

Posted on Friday, November 19, 2010

According to Jones Lang LaSalle’s 2011 National Commercial Real Estate Outlook, the majority of the commercial real estate (CRE) industry can expect a commercial comeback in 2011. The Chicago-based financial and professional services firm announced its findings at a yearly media Webcast event this...

Mortgage Apps Suffer Largest Drop of the Year as Rates Jump

Posted on Friday, November 19, 2010

Consumer demand for home loans plummeted last week as mortgage interest rates shot up against the backdrop of the Federal Reserve’s announcement to pump more money into the economy – an initiative that’s fundamental design is to keep interest rates low in hopes of buoying economic growth. The tota...

Economist: Home values main recovery risk

Posted on Wednesday, November 17, 2010

Economist Tony Villamil foresees a slow but ongoing recovery of the South Florida economy, barring an unexpectedly dramatic decline in government employment. "The economy is improving but very slowly," said Villamil, dean of the business school at St. Thomas University in Miami Gardens. "Usually wh...

More Homeowners Underwater as Depression-Era Depreciation Nears

Posted on Wednesday, November 17, 2010

Nearly one-quarter, or 23.2 percent of U.S. homeowners with a mortgage, were underwater on the loan in the third quarter, meaning they owe more on the home than it is worth, according to figures released Wednesday by the real estate data provider Zillow. The third-quarter underwater number rose fro...

Inventories of For-Sale Homes Drop in Most Major

Posted on Wednesday, November 17, 2010

Inventories of homes listed for sale are dwindling across the country, in some markets, significantly, according to Altos Research. The California-based real estate data and analytics firm released a new market update this week. The Altos 10-city composite of homes listed for sale fell 4.64 percen...

S. Fla. existing home, condo prices fall in Q3

Posted on Wednesday, November 17, 2010

Sales of existing single-family homes fell in the third quarter in Fort Lauderdale and Miami, but were up slightly in West Palm Beach, according to figures from Florida Realtors. Existing condo sales, meanwhile, soared in Miami and West Palm Beach, but fell in Fort Lauderdale. Prices for homes...

A tale of two housing busts: Why is California recovering and Florida still struggling?

Posted on Friday, November 12, 2010

Many experts say the difference is California's simpler foreclosure process, which doesn't involve the courts. By Alejandro Lazo and E. Scott Reckard, Los Angeles Times November 5, 2010 Advertisement California and Florida had a lot in common during the housing industry's last boom-and-b...

FORECLOSURE ACTIVITY DECREASES 4 PERCENT IN OCTOBER

Posted on Thursday, November 11, 2010

Nine percent drop in bank repossessions may be due to "foreclosure freeze" IRVINE, Calif. – Nov. 11, 2010 — RealtyTrac? (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ for October 2010, which shows foreclosure ...

NAR's Pending Home Sales Gauge Slips 1.8%

Posted on Thursday, November 11, 2010

The number of contracts signed for purchases of previously owned homes unexpectedly dropped in September. The National Association of Realtors (NAR) said Friday that its pending home sales index slipped 1.8 percent – the first decline reported since June. Economists polled by Reuters were anticipa...

Current Mortgages Turning Delinquent Rises for First Time in a Year

Posted on Thursday, November 11, 2010

During the third quarter of this year, 2.7 percent of current mortgage balances transitioned into delinquency, according to new data from the Federal Reserve Bank of New York. That’s up from 2.6 percent that became newly delinquent in the second quarter. Fed officials called the quarterly increase ...

Slide in Home Prices Signals Trouble Ahead: IAS

Posted on Thursday, November 11, 2010

Residential property values fell 0.2 percent at the national level during the third quarter of this year, according to Integrated Asset Services (IAS). In front of a seasonal slow-down in home sales, IAS says the data foreshadow “particularly difficult times ahead” for the country’s housing markets...

RealtyTrac numbers questioned

Posted on Thursday, November 11, 2010

The Palm Beach County Clerk and Comptroller’s office is disputing county foreclosure data provided by Irvine, Calif.-based RealtyTrac. According to RealtyTrac figures, the number of initial foreclosure filings in October rose to 1,958 from 1,175 a month earlier. However, the Palm Beach County ...

S. Fla. home values continue to plunge

Posted on Thursday, November 11, 2010

Forty-two percent of homes in South Florida were under water in the third quarter, down from 43.2 percent in the previous quarter and 45.1 percent a year ago, according to Seattle-based Zillow. Still, that’s nearly double the national negative equity rate of 23.2 percent. Home values in Miami...

LPS Report Shows Foreclosure Timelines Continue to Stretch

Posted on Monday, November 08, 2010

Market data collected by Lender Processing Services (LPS) during the month of September reveals that foreclosure timelines continue to increase, with borrowers in the latest stages of delinquency or in foreclosure languishing without having made a mortgage payment for up to 16 months. The company’s...

10% Jump in September Existing-Home Sales

Posted on Friday, November 05, 2010

Existing-home sales rose again in September, affirming that a sales recovery has begun, according to the National Association of REALTORS®. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, rose 10 percent to a seasonally a...

Consumer Spending weak

Posted on Tuesday, November 02, 2010

WASHINGTON — A mixed picture of the economy emerged one day before key midterm elections that have focused on the nation's financial health. Spending by Americans slowed in September and their incomes fell for the first time in more than a year. At the same time, manufacturing activity grew by the ...

Capital Economics Warns of Another Dip Ahead

Posted on Tuesday, November 02, 2010

The analysts at Capital Economics say that dreaded double-dip is already underway, in both housing activity and residential property prices. “It is becoming clear that the housing market cannot stand on its own two feet,” said Paul Dales, U.S. economist for the international research firm. Dales...

Fitch Says 7M Homes in the Shadows Will Take 40 Months to Clear

Posted on Tuesday, November 02, 2010

New figures released by Fitch Ratings put the industry’s shadow inventory at 7 million homes. The agency defines the shadow supply of properties as loans that aredelinquent, in foreclosure, or real-estate-owned (REO) by the servicer, and Fitch says based on recent liquidation trends, it will take mo...

Foreclosures Pushing Home Prices Down Even Further

Posted on Friday, October 29, 2010

WASHINGTON — Home prices are falling further, suggesting a bottom hasn't been reached in many metro areas. Millions of foreclosures are expected to pour onto the market in the coming years. That's likely to force prices down and hurt even cities that had begun to rebound. Investigations into banks'...

Case-Shiller Index: Home Prices Fall In August As Market Shows Signs Of Trouble

Posted on Friday, October 29, 2010

WASHINGTON (AP, BY ALAN ZIBEL) -- Home prices are weakening around the country, even in metro areas that were showing strength earlier in the year. The Standard & Poor's/Case-Shiller 20-city home price index released Tuesday fell 0.2 percent in August from July. Fifteen of the cities showed monthly...

Home prices up, sales down in Broward; in Palm Beach County, prices are down but sales are up

Posted on Wednesday, October 27, 2010

By Paul Owers and Harriet Johnson Brackey, Sun Sentinel Broward County home prices rose in September, but a long-term recovery hinges on the depth and duration of foreclosure freezes by several big lenders. The county's median price of existing homes sold last month was $214,200, a 7 percent inc...

Sales of Existing Homes Post 10% Gain in September: NAR

Posted on Wednesday, October 27, 2010

CARRIE BAY DSNews.com Sales of previously owned homes rose in September for the second straight month. Data released by the National Association of Realtors (NAR) Monday revealed a 10 percent jump in existing-home sales last month. The month-to-month gain was more than analysts were expecting,...

CoreLogic Home Price Index Falls for First Time This Year

Posted on Wednesday, October 27, 2010

By: Carrie Bay DSNews.com Home prices in the U.S. declined 1.5 percent in August compared to a year earlier, CoreLogic reported Monday. It’s the first time this year the company’s index has recorded an annual drop. Mark Fleming, chief economist for California-based CoreLogic, warned that price dec...

US house prices fall in August

Posted on Wednesday, October 27, 2010

By Alan Rappeport in New York Published: October 26 2010 14:24 | Last updated: October 26 2010 18:03 Financial Times US house prices tumbled in August, raising fears that uncertainty surrounding foreclosure moratoriums could send the fragile real estate market into an end-of-year swoon. Home ...

S&P Case-Shiller Index Records Widespread Declines in Home Prices

Posted on Wednesday, October 27, 2010

By: Carrie Bay 10/26/2010 DSNews.com Home prices across the country slipped in August, according to data released by Standard & Poor’s Tuesday. The agency’s closely-watched gauge of residential propertyvalues recorded a 0.1 percent drop in the composite reading of 10 cities tracked, while the 20-...

Home Sales Up In September, But More Troubles Ahead

Posted on Tuesday, October 26, 2010

Huffington Post ALAN ZIBEL and JEANNINE AVERSA |WASHINGTON — Sales of previously occupied homes rose last month after the worst summer for the housing market in more than a decade. And fears over flawed foreclosure documents could keep buyers on the sidelines in the final months of the year. Sale...

Housing Recovery Predicted for Late 2012

Posted on Monday, October 18, 2010

In its new housing outlook report, The Concord Group—a real estate strategy firm based in Newport Beach, Calif.— predicts that national home sales will recover by the fourth quarter of 2010, with some well positioned markets improving by late 2011 or early 2012. "The Concord Group estimates sales ...

Home Glut Blamed on Fewer New Households

Posted on Monday, October 18, 2010

here were 357,000 new households created between March 2009 and March 2010, down from about 1.3 million per year between 2002 and 2007, according to U.S. Census Bureau data. With household formation at a 63-year low, the supply of homes on the market is nearing a record high. "When people are af...

Interpreting NAR's Existing-Home Sales Data Series

Posted on Monday, October 18, 2010

by Jed Smith, Managing Director, Quantitative Research NAR’s Existing Home Sales (EHS) numbers estimate the size of the residential market—providing the annual rate of sales each month. The data are based on the level of sales in a specific month, seasonally adjusted to an annual rate. In July the...

Economists Say Home Prices Have Already Hit Bottom

Posted on Wednesday, October 13, 2010

Home prices in the United States found their floor during the early part of 2010 and are expected to begin trending upward next year, according to a panel of elite economists surveyed by the National Association for Business Economics (NABE) for its October 2010 Outlook. “The housing recovery is in...

Rent v. Own?

Posted on Wednesday, October 13, 2010

With top lenders like Bank of America and PNC issuing far-reaching moratoriums on foreclosures, now may just be a better time to rent than buy. A simple calculation called the price-to-rent ratio can give you an indication of whether it's a better move to rent or buy a home. Trulia, the online real...

Home Prices Haven not Yet Bottomed

Posted on Monday, October 11, 2010

Home value depreciation remained steady in August after improvement stalled in July, according to the Zillow Real Estate Market Report released Friday. The Seattle-based company’s market data shows that nationally, home values fell 0.3 percent between July and August (about the same as the chang...

Top Guys Have Gloomy Predictions

Posted on Friday, October 08, 2010

Former Federal Reserve chairman Paul Volcker and economist Nouriel Roubini seem equally pessimistic about a U.S. economic recovery. "This has not been an ordinary recession," Volcker, who chairs the president's Economic Recovery Advisory Board, said in a Toronto speech Thursday, according to Bloo...

Golman Says Not Good

Posted on Thursday, October 07, 2010

Goldman Sachs Group Inc. said the U.S. economy is likely to be “fairly bad” or “very bad” over the next six to nine months. “We see two main scenarios,” analysts led by Jan Hatzius, the New York-based chief U.S. economist at the company, wrote in an e-mail to clients. “A fairly bad one in which ...

Home Prices

Posted on Thursday, October 07, 2010

Clear Capital Sees Evidence of Early Winter Slowdown in Home Prices By: Carrie Bay 10/06/2010 DSNews Data released by Clear Capital Thursday shows that quarter-over-quarter home prices were down 0.2 percent in September compared to the previous month’s reading. It’s the first time in months nati...

Shadow Inventory

Posted on Tuesday, October 05, 2010

It’s no secret that the volume of distressed residential properties is weighing heavy on U.S. housing markets and is prolonging any meaningful recovery. Of even greater concern is the industry’s growing backlog of homes thatneed to be liquidated and resold but have yet to make their way to the marke...

Pending Home Sales (Contracts signed) Released Today (for the month of August)

Posted on Monday, October 04, 2010

By: Associated The number of people who signed contracts to buy homes rose in August for the second straight month but remained far below last year's pace. The weak economy and fears that prices will fall are keeping many consumers away from the housing market. The National Association of Real...

Pending Home Sales

Posted on Monday, October 04, 2010

Washington, October 04, 2010 Pending home sales have increased for the second consecutive month, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator, rose 4.3 percent to 82.3 based on contracts signed in August from a downwardly revised 7...

Existing Home Sales Numbers Released Today

Posted on Thursday, September 23, 2010

Existing home sales were up 7.6% MOM from July to August 2010, but still down 19% YOY from August 2009. In terms of volume that translates to 4.13 million annual sales compared to 3.84 using July's number. That says good things for the demand side of the supply-demand equation affecting prices....

GDP Says Recession Ended June 2009?

Posted on Tuesday, September 21, 2010

Recession May Be Over, but Joblessness Remains By CATHERINE RAMPELL NYT The United States economy has lost more jobs than it has added since the recovery began over a year ago. Enlarge This Image Justin Sullivan/Getty Images Demonstrators in San Francisco this month. The United ...

Housing Affordability

Posted on Tuesday, September 21, 2010

Housing Affordability: A Possible Good Omen by Lawrence Yun, NAR Chief Economist NAR Amid all the media reports on how housing is still “in the tank,” one piece of news seemed to have escaped many of the pundits. Housing affordability could possibly reach an all-time high of near 200 in the sec...

Household Formation

Posted on Tuesday, September 21, 2010

Household Growth: Projections from The State of the Nation’s Housing Report by Selma Lewis, Research Economist Each year, the Joint Center for Housing Studies at Harvard University issues a report on “The State of the Nation’s Housing.” The report provides an overview of the U.S. housing ma...

GDP

Posted on Tuesday, September 21, 2010

Gross Domestic Product: What You Need to Know by NAR Research Staff Gross Domestic Product – GDP – measures the total final market value of all goods and services produced in a given year in the United States. A number of components make up the GDP: Consumption, Investment, Government Expenditur...

Average American Net Worth Down

Posted on Monday, September 20, 2010

Americans' net worth plunged in the second quarter of this year, new data from the Federal Reserve show, erasing the gains of the previous two quarters and adding evidence to the argument that the economy has entered a double-dip recession. The net worth of households and non-profit organizations...

“more distress with distressed home sales.”

Posted on Monday, September 20, 2010

CORELOGIC on Thursday announced the inaugural release of its U.S. Housing and Mortgage Trends report, a bi-monthly study of housing sales, valuation, negative equity, and foreclosure activity and trends. The California-based research firm says its data indicate “more distress with distressed ho...

Census Bureua Numbers and Health UInsurance

Posted on Friday, September 17, 2010

The Census Bureau’s latest report on poverty and health insurance coverage is bleak. With millions of Americans out of work, it could hardly be otherwise. Census BureauThe record number of people last year without health insurance — 50.7 million, up from 46.3 million in 2008 — provides stark evi...

Poverty Rate

Posted on Friday, September 17, 2010

Recession Raises Poverty Rate to a 15-Year High By ERIK ECKHOLM Published: September 16, 2010 Recommend Twitter comments (499) Sign In to E-Mail Print Single Page Reprints Share CloseLinkedinDiggMixxMySpaceYahoo! BuzzPermalink The percentage of Americans struggling...

Gloomy News for Home Prices...

Posted on Wednesday, September 15, 2010

Home prices have hit upon relatively stable ground in recent months – a welcome reprieve from the freefall days most markets had grown acutely accustomed to after the reverberating bursting of the housing bubble. But that stability may be fleeting. If you heed the words of the seers keeping a...

HUD Reports Shows Things Still Shaky

Posted on Tuesday, September 14, 2010

Housing conditions continued to show signs of stabilizing during the second quarter of this year, following a downward trend that began to reverse itself in mid-2009, HUD says in a new report. The federal agency immediately follows that assessment, though, with “the housing market’s recovery remains...

U.S. Census Bureau and HUD 2007 Homeownership Survey

Posted on Thursday, September 02, 2010

The U.S. Census Bureau and HUD publish an American Housing Survey ever two years. The recently released 2009 Survey reflects some interesting measures; The U.S. population as of 12/30/09 was 308 million and change. The age distribution in our country is as follows: 20% are age 0 to 14. 67% are...

Home Prices

Posted on Wednesday, September 01, 2010

Home prices rose in June for the third consecutive month – a precipitate of the homebuyer tax credit that sparked a flurry of purchase activity during the spring months and helped to prop up home values. Buyer demand, though, has now dropped off substantially, as evidenced by the sharp decline in...

The Near Future for Supply and Demand

Posted on Tuesday, August 31, 2010

Moody's says it expects home price appreciation to be “soft” for the next couple of years. The company says there were 1.8 million more vacant homes sitting on the market than what is considered the norm at the end of the second quarter. According to Moody’s, this imbalance of supply-and-demand, ...

Case Shiller Numbers August 2010 (for June 2010)

Posted on Tuesday, August 31, 2010

The latest numbers released at 9 AM EST today for June 2010 reflect home sales values; Up 1.0% MOM (from June 2010) (pretty much flat line) (Miami up 1.1%) 20 city up 4.2 % YOY (from June 2009). 10 City up 5% (but last year was horrible) 17 of 20 cities in composite up in June. ...

Existing and New Home Sales Down - Double Dip?

Posted on Wednesday, June 23, 2010

New EXISTING HOME SALES number were released Tuesday June 22 at 10 AM by NAR for May. We expected to see a rise of about 6%. But instead saw a slight decrease. Given that this number measures closed sales, we should see at least another month of home buyer tax credit boost so this lower than ex...

New Index Measures Consumer Financial Distress

Posted on Wednesday, June 23, 2010

CredAbility Consumer Distress Index is a new quarterly stat tracking shifts in the average American household financial condition over time. CredAbility was f/k/a Consumer Credit Counseling Service of Greater Atlanta. The new index measrures consumers employment, housing, credit, household budget...

What the Smart Guys Are Saying...

Posted on Wednesday, June 23, 2010

GDP: A relapse into recession in not likely. GDP growth this year is about 3.5% and will be about the same next year. Employment: Inventories are lean so businesses will be spending there as well as on equipment then have been putting off. Continued federal stimulus will help, but that tapers...

Cocktail Talk

Posted on Wednesday, June 23, 2010

$13 trillion nation debt 39.68 million on food stamps. Realtytrac foreclosure on 367,056 properties in March. MBA over 10% with mtg missed payment between January and March - record high. Banks own greater share of residential housing net worth in US than all Americans. Stat...

Case Shiller Home Prices

Posted on Tuesday, May 25, 2010

Numbers released today indicte that home prices year over year are up. But prices month over month are down (which means eventually year over year numbers will reflect this decrease as well). The uptick in sales reflected by the home sales numbers a few days ago appear to have not translated to...

Pending Home Sales

Posted on Tuesday, March 16, 2010

The Pending Home Sales Index based on contracts signed in January, fell 7.6% from December, but remains 12.3% higher than January 2009. The Northeast fell 8.7% in January but is 20.5% higher than January 2009. The Midwest dropped 8.9% but is 11.8% above a year ago. The South slipped 2.1%...

Shadow Inventory

Posted on Tuesday, March 16, 2010

Estimates of shadow inventory have ranged anywhere between 1.7 million properties to 7 million. The reason for this wide range of estimates stems largely from varying perceptions of what exactly shadow inventory means. Those whose definition of shadow inventory refers to seriously delinquent loans (...

Option ARM Resets Expected

Posted on Tuesday, March 16, 2010

"Option ARMs" resets are anticipated to occur between the second half of 2010 and 2012. The largest share of Option ARMs (60%)is concentrated in California. Other areas with high concentration of Option ARMs are those states also reporting the highest foreclosure rates: Florida, Nevada, and Ari...

Negative Equity

Posted on Thursday, February 25, 2010

First American CoreLogic numebrs are indicating 11.3 million plus homes (24% of all homes with mortgages) in negative equity by year end 2009 with another 2.3 million approaching (only 5% equity). This adds up to about $801 billion underwater and theoretically at risk. 3Q 2009 the number was 10.7...

Case Shiller Home Prices

Posted on Thursday, February 25, 2010

According to the latest S&P/Case-Shiller U.S. National Home Price Index, residential property values were down 2.5 percent in Q4 2009 compared to a year earlier, a significant improvement over the annual variances in the Q1 (-19.0 percent), Q2 (-14.7 percent), and Q3 (-8.7 percent) of 2009, and sho...

Home Prices

Posted on Wednesday, February 24, 2010

We see that home prices kept falling but slower than they did at the end of last year; Down 2.5% Q4 2009 compared to Q4 2008. But the 2008 to 2007 number was down 18.2 percent. Month to month prices rose 0.3% from December November 2009 overall in 20 markets, but fell in 5 markets. According...

New Home Sales

Posted on Wednesday, February 24, 2010

According to US Census Bureau numbers released this morning, new home sales in January 2010 were down 11.2% from last month/December 2009 and down 6.1% from last year/January 2009. Last month 3 of the 4 US regions showed a decline in new home sales; 35% down in the NE, 12% in the W and 9.5% in the ...

Existing Home Sales and Prices - NAR

Posted on Tuesday, February 23, 2010

According to the latest quarterly statistics released by NAR Research, total state existing-home sales, including single-family and condo, jumped 13.9 percent to a seasonally adjusted annual rate of 6.03 million in the fourth quarter - up from 5.29 million in the third quarter. Existing-home sales r...

Supply and Demand

Posted on Tuesday, February 23, 2010

REOs and pending foreclosures will likely take 33 months – or nearly three years – to clear if liquidation rates hold steady....

Home Sales and Prices Straight From NAR

Posted on Tuesday, February 23, 2010

Strong gains in existing-home sales were the predominant pattern in most states during the fourth quarter, with many more metro areas seeing prices rise from a year earlier, Sales increased from the third quarter in 48 states and the District of Columbia; 32 states even saw double-digit gains. ...

NAR Home Sales States Released Today

Posted on Thursday, February 11, 2010

Strong gains in existing-home sales were the predominant pattern in most states during the fourth quarter of 2009, with many more metro areas seeing prices rise from a year earlier, according to the latest survey by the National Association of Realtors ® . Total state existing-home sales, includi...

Foreclosures

Posted on Thursday, February 11, 2010

Realty Tracs January 2010 U.S. Foreclosure Market Report shows that foreclosure filings were reported on 315,716 U.S. properties during the month, 1 in every 409 housing units. That's a decrease of nearly 10 percent from the previous month but still 15 percent above January 2009. Last month’s de...

Pendign Home Sales From NAR

Posted on Wednesday, February 03, 2010

In November, the Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts signed during the month, fell to 95.6, a 16.4 percent decrease from surging activity in preceding months due to the anticipated expiration of the homebuyer tax credit. Following the extension and expansi...

Existing Home Sales, Prices, Inventory

Posted on Tuesday, January 26, 2010

While existing home sales fell 16.7 percent to a seasonally adjusted rate of 5.45 million units in December from 6.54 million units in November, sales remained 15 percent above the 4.74 million-unit level of December 2008. There were 5,156,000 existing-home sales for all of 2009, a 4.9 percent jump ...

Home Prices

Posted on Tuesday, January 26, 2010

The latest release from Case Shiller show price down 0.2%. Thats 30% down from the '06 peak and a bit above 5% down from this time last year. But its in line with what we've been predicting, a decline of about another 5 to 10% in prices for 2010. Most of the decline will be seen between now an...

Existing Home Sales Down..But Don't Panic

Posted on Monday, January 25, 2010

We knew this was exactly what would happen. We're past the worst of it. Expect more dips. But don't panic. Last month existing home sales were donw 16.7%. ...

The Big Picture Outcome for 2009

Posted on Saturday, January 23, 2010

In the big picture, 2009 can be credited with; Wrapping up a total 33% average home price decline for the US since the bubble burst. Prices bottoming in June '09 and inching up so far each month since. The beginning of a borader economic recovery. BUT Foreclosurses have not slowed. ...

November Home Sales Stats – Released December 2009

Posted on Monday, January 18, 2010

Sales in November 2009 were up 44% over November 2008. More than half of the sales were to first time home buyers, probably due to the rush to close under the tax credit before anyone knew it would be extended. 33% of the sales involved distressed properties and 19% were cash deals, more than twic...

INVENTORY AS OF NOVEMBER 2009 – Released December 2009

Posted on Monday, January 18, 2010

Inventory is down to 6.5 months but can be expected to increase, perhaps to around 8 months supply, as foreclosures flood the market and sales slow as the credit ends in June and interest rates increase. ...

Pending Home Sales as of January 5, 2010

Posted on Monday, January 18, 2010

Pending Home Sales, a forward looking indicator based on contracts signed in November 2009, fell 16% from October but is still 15.5% higher than November 2008. PHS dropped 25.7% in the NE but is 14.7% up YOY. On the South PHS fell 15% but is 14.7% up YOY. In the West PHS dropped 2.7% but is 21.4...

Commercial Number Update - Year End 2009

Posted on Monday, January 18, 2010

At small banks with less than $1 billion in assets, commercial mortgages comprise an average of 32.5% of that total. This is 6 times higher than banks with $50 billion or more in assets. As of September, commercial delinquency reached 5.59%, up from 3.51% six months earlier. According to some co...

Inventory

Posted on Wednesday, November 25, 2009

Great Article by Monica Hatcher of the Miami Herald; When home supply exceed one year prices fall. With 6 to 9 month inventory price tend to be stable. Less than that and prices appreciated. As of now in Miami Dade there is s ; 4 month supply of homes under $100K 8 months uplly of homes ...

Various Updates

Posted on Monday, August 31, 2009

The latest stats acorss all fronts are no surprise. We're nearing a bottom across the board. The variation by location, property type and price is becomeing more obvious. As is the fact that this is not going to be a simple or quick recovery. Jobless claims last week appeared to decrease by 10...

Recent Survey Measures America's Housing Pulse

Posted on Monday, July 13, 2009

The Housing Pulse Survey is an annual telephone survey of 1000 urban and suburban adults in the top 25 media markets, designed to assist NAR in gaining information on consumers' attitudes and concerns about housing opportunities. Some recent results are interesting: Two-thirds of Americans think ...

Current Foreclosure and Neg Equity Predictions

Posted on Monday, July 13, 2009

Some economic observers are predicting another wave of foreclosures later this Summer or the Fall. That’s because lenders that have held off on foreclosures as part of President Obama’s plan are now move forward aggressively to clear the backlog of troubled mortgages. There is fear that these risin...

Price Declines Expected

Posted on Monday, July 13, 2009

According to the WSJ, nearly 85% of the country’s housing markets are facing an increased risk of home price declines over the next two years, and prices are likely to slide in half of the largest 50 U.S. markets through the beginning of 2011, according to a report from mortgage insurer PMI Group In...

Scary Stats

Posted on Friday, May 22, 2009

1 kid in every classroom in American currently lives in a home thats in foreclosure. 43% of us spend more than earn 52% of us live paycheck to paycheck 42% of us don’t have enough liquid assets to support 3 months Lenders lose 20 to 60 cents on the dollar on each foreclosure. Typically...

Invesntory and REOs

Posted on Tuesday, May 12, 2009

Home inventory is down 21% compared to last year but that doesn’t include REOs. FNMA is biggest REO owner, currently listing only about 35 to 50 % of their REOs at any given time. Banks list about 60% of theirs. They’re estimated to have 765,500 REOs now and expected to peak at 1.3 million late 2...

Nig Picture Foreclosure Stats

Posted on Monday, April 27, 2009

9000 a week. Originally estimated 2 million. Now 5 to 6 million. Nationally 250,000 new filings in March, 1 in ever 10 homes Miami Dade has 600 new foreclosure filings each month. 75% of all new cases are foreclosures, takes 300 days – used to be 150. Original indicator = rate resets. Now also un...

Big Picture Negative Equity

Posted on Monday, April 27, 2009

2008 20 major areas decreased in price over 18%, $3.3 trillion equity lost – 14 million underwater, another 230K a month. Florida 2nd with 1.3 million underwater – Mod wont help us since more than 5% underwater. ...

Big Picture Mortgage Industry

Posted on Monday, April 27, 2009

$12 trillion in mortgages. $1 trillion in seconds 70% held by banks Top servicers service 50% and $440 billion in seconds. ...

Big Picture Economy

Posted on Monday, April 27, 2009

Housing is 19% of GDP Tourism is a $1.9 billion per day industry. 1 in 7 US jobs impacted. Shopping centers are $2.25 trillion in sales and $125 billion in state sales tax 70% local government taxes come from real estate • 30% residential • 40% commercial Over 200 publically traded REITS with ...

Employment

Posted on Monday, April 27, 2009

650K jobs lost in March, 2 million so far. 6.1 million unemployed. Real estate supports 9 million jobs Construction supports 1.6 million self-employed and 6.7 million salaried workers 1 in 7 jobs impacted by tourism ...

Historial Homeownership

Posted on Monday, April 27, 2009

1900 75% Rented 2006 68% Owned ...

High End Properties

Posted on Thursday, April 23, 2009

Properites in the higher price range are finally seeing bigger hits. Up until now most of the foreclosures were at lower pricepoints. Places like the Hamptons where Wall Streets once elite are hardest hit for obvious reasons. One reason is the continued lack of availability of jumbo mortgage loans...

Condo Sales

Posted on Thursday, April 23, 2009

Condo sales remains an especially soft spot in the road to recovery. One reason is the shere number of units built and the fact that they were especially attractive to investors/speculators. But the other reason is the problems faced by associations now as foreclosure units remain deliquent on their...

Good news About Refinances

Posted on Thursday, April 23, 2009

The good news is refinances are up by a whole lot from last year. Its good because we know the underwriting standards are making these new loans safer investments and the lower, predominantly fixed rates are making the homes more affordable for Americans. Hopefully more old fashioned refinances w...

NAR Stats

Posted on Thursday, April 23, 2009

NAR released their latest states this AM. First time buyers are about 53% of all sales now. Most agree sales will begin to strengthen but prices continue to drop. About 40% of sales now are foreclosures or distressed which typically sell form about 20% less. It typically takes 1 to 3 m...

USA Foreclosures

Posted on Wednesday, April 22, 2009

As of now there are over 900,000 properties currently in foreclosure nationwide, a 71% increase from this time last year. This according to a recent MBA survey. A RealtyTrac report released today tells us what we already know, that the cities with the highest forelcosure rates are concentrated i...

Prices Still Declining

Posted on Saturday, February 21, 2009

The S&P/Case-Shiller home-price index show no area experienced year-over-year price gains, the eighth straight month that has happened. Phoenix, Las Vegas and San Francisco continued to lead decliners, with year-to-year drops over 30%. In 20 major metropolitan areas, home prices dropped 18.2% from t...

Percent of Loans in Default and Foreclosure

Posted on Tuesday, February 17, 2009

By the end of 2008, slightly more than 9 percent of all mortgages in the United States were either delinquent or in foreclosure, according to the Mortgage Bankers Association. The number of loans in foreclosure hit a new record of 2.3 million last year, more than double the volume in 2006, and indus...

By Category

Recommended Sites