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Posts Tagged ‘ down ’

The Slow Down in the House Price Indexes

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The Slow Down in the House Price Indexes

We are finally seeing the slowdown in the year-over-year (YoY) housing price indexes that many of us have been expecting based on supply and demand.  With inventory increasing steadily – and by one measure now above 2012 levels for the same week – the price slowdown will probably continue (and we may see price...
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Sacramento Housing in May: Total Sales down 11% Year-over-year, Equity Sales up 8%, Active Inventory increases 84%

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Sacramento Housing in May: Total Sales down 11% Year-over-year, Equity Sales up 8%, Active Inventory increases 84%

Several years ago I started following the Sacramento market to look for changes in the mix of houses sold (equity, REOs, and short sales).  For a long time, not much changed. But over the last 2+ years we’ve seen some significant changes with a dramatic shift from foreclosures (REO: lender Real Estate Owned) to short sales, and...
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Las Vegas Real Estate in May: Year-over-year Non-contingent Inventory Doubles, Distressed Sales and Cash Buying down sharply

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Las Vegas Real Estate in May: Year-over-year Non-contingent Inventory Doubles, Distressed Sales and Cash Buying down sharply

This is a key distressed market to follow since Las Vegas has seen the largest price decline of any of the Case-Shiller composite 20 cities. The Greater Las Vegas Association of Realtors reported Southern Nevada home prices rebound in May, GLVAR reports According to GLVAR, the total number of existing local homes, condominiums and...
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DataQuick on California Bay Area: April Home Sales down slightly Year-over-year, Non-Distressed sales up 15% Year-over-year

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DataQuick on California Bay Area: April Home Sales down slightly Year-over-year, Non-Distressed sales up 15% Year-over-year

From DataQuick: Bay Area Home Prices Continue to Rise; Sales Up from March, Flat Yr/Yr A total of 7,555 new and resale houses and condos were sold in the nine-county Bay Area last month. That was up 19.8 percent from 6,308 in March and down 0.9 percent from 7,621 in April a year ago,...
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Phoenix Real Estate in April: Sales down 12%, Cash Sales down 33%, Inventory up 49%

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Phoenix Real Estate in April: Sales down 12%, Cash Sales down 33%, Inventory up 49%

This is a key distressed market to follow since Phoenix saw a large bubble / bust followed by strong investor buying. The Arizona Regional Multiple Listing Service (ARMLS) reports (table below): 1) Overall sales in April were down 12% year-over-year and at the lowest level since April 2008. 2) Cash Sales (frequently investors) were...
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Sacramento Housing: Total Sales down 29% Year-over-year in November, Conventional Sales up 14%, Active Inventory increases 57%

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Sacramento Housing: Total Sales down 29% Year-over-year in November, Conventional Sales up 14%, Active Inventory increases 57%

Several years ago I started following the Sacramento market to look for changes in the mix of houses sold (conventional, REOs, and short sales).  For a long time, not much changed. But over the last 2 years we’ve seen some significant changes with a dramatic shift from foreclosures (REO: lender Real Estate Owned) to short sales, and...
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Housing: Inventory down 23% year-over-year in early August

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Housing: Inventory down 23% year-over-year in early August

Here is another update using inventory numbers from HousingTracker / DeptofNumbers to track changes in listed inventory. Tom Lawler mentioned this last year. According to the deptofnumbers.com for (54 metro areas), inventory is off 22.8% compared to the same week last year. Unfortunately the deptofnumbers only started tracking inventory in April 2006. This graph...
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Housing: Short Sales increase, Foreclosure Sales down Year-over-year

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Housing: Short Sales increase, Foreclosure Sales down Year-over-year

CR Note: There are only a few areas where the MLS breaks down monthly sales by foreclosure, short sales and conventional (non-distressed) sale. I’ve been tracking the Sacramento market to watch for changes in the mix over time. (here was my post this morning: Distressed House Sales using Sacramento Data) Economist Tom Lawler sent...
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Mortgage originations down 20% at big four banks in 2011

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Mortgage originations down 20% at big four banks in 2011

Mortgage originations by the nation's largest four banks fell 20.4% in 2011 to a combined 7 billion from 2 billion in 2010, according to HousingWire analysis of the company's financial statements. Excluding Bank of America (BAC: 6.96 +2.35%), overall mortgage production among the big banks fell 6.3% in 2011. Citigroup's (C: 29.33 +1.03%) home...
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Mortgage rates edge down, ARMs reach new lows

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Mortgage rates edge down, ARMs reach new lows

Mortgage rates declined this past week, with adjustable-rate mortgages hitting new lows, according to Freddie Mac's latest Primary Mortgage Market Survey. Adjustable-rate mortgages hit new lows, with the 5-year Treasury indexed ARM averaging 2.91% this past week, down from 2.97% a week earlier. Last year, the same rate hit 3.45%. The 1-year, Treasury-indexed ARM...
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