Yes, home prices are down… Back in October… …but getting less bad because inventory is down and still declining. The foreclosure pipeline is clogged in Florida, while New York and New Jersey still have their robo-signing hangovers: The constrained supply is also keeping days-on-market in check – sellers are still able to unload their...
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Lots of yawns and snoozes as expected (see: CNBC Recap & Analysis: Tax Assessment, Morgtage Refis, Valuations, Conforming Loan Limits). The upper end price tiers have been adjusting their ask prices since the early Spring in anticipation of the FHA Loan Limit changes that took place on October 1: Nothing to see here. Move along…...
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[08/15/11: Author "told-you-so" update - We saw rising home prices in Phoenix from foreclosure activity much earlier this year.) From HousingWire: “Rise in REO value cuts Freddie Mac holding expenses by 90%” “The decrease in REO operations expense was primarily driven by an improvement in both REO holding period write-downs and disposition losses as REO...
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Housing trends in the mid-sized US markets behave differently than housing trends in the major metropolitan areas. Markets like Pittsburgh never witnessed a huge bubble or burst during the housing run-up and crash. Because of the differences, Altos Research is now publishing a monthly 20-City Mid-Cities Report to capture and report those nuances. The...
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“What’s going on in New York? Got that question about 27 times while I was in the Big Apple last week. The answer? Not much. Our June 2011 National Housing Report showed the New York MSA as one of the two, along with Las Vegas, (out of 26 metros reported) with falling prices smack...
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Down for February. According to the calendar, it will be May 1 on Sunday… Remember, the Case-Shiller is a 3-month rolling average, so the Spring 2011 market isn’t captured yet using this repeat-sales index. The active market tells a different story through this week: The Price of New Listings (black line) bottomed in February,...
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With the S&P/Case-Shiller Index released today, everyone is aflutter with talk of a double-dip in house prices. Remain calm. These are January numbers. It’s almost April. More recent figures exhibit more positivity for the 2011 housing market. Here’s how – Since 2008, as the active housing inventory (the number homes available for sale) rose...
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Well, sort of… The good news is that today’s S&P/Case-Shiller reports home prices through December 2010. But… looking at the active market as of Friday (February 18) weekly home prices are starting a seasonal bounce: We called the spring-time bounce in our Q4 webcast back in December (recording & slides). The...
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New listings hitting the market this year are down sharply so far, and the trend is markedly different from the tax credit years. Why? The bears will reach for the easy “it’s a double-dip” answer, but seems there are other factors at play. In 2009-10, sellers priced more optimistically – setting their initial ask...
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Positive news for the housing market today from the good folks at Clear Capital reporting “a quarter-over-quarter national price change of -1.6 percent. Despite the negative quarterly price change, the national index has demonstrated a positive trend since the start of 2011.” Our weekly Price of New Listings measure...
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