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Posts Tagged ‘home prices’

Home Prices in Northwest Nearly Double National Average

August 2nd, 2016 Comments off

house price increases  housingwire  credit postedDailyBusinessNewsMHProNewsHome prices rose in June 5.7 percent year-over-year, a slight drop from the 5.9 percent rise in prices in May, as CoreLogic tells nationalmortgagenews. The increase over May was 1.1 percent, MHProNews has learned.

Prices for July will increase 5.3 percent year-over-year, and 0.6 percent on a month-over-month basis, CoreLogic has predicted.

We see prices continuing to increase at a healthy rate over the next year by as much as 5%,” CoreLogic chief executive and president Anand Nallathambi said in a news release.

Oregon and Washington experienced the largest price increases, 10.9 percent and 10.3 percent, respectively, while Connecticut’s home prices slipped 1.7 percent. In New Jersey, prices fell 0.8 percent. ##

Image credit: housingwire–home prices increase)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

Home Prices Rise, Yearly and Monthly

September 3rd, 2015 Comments off

housing_recovery__globest.com__creditAccording to the CoreLogic Home Price Index, home prices increased 6.9 percent in July over a year ago, and rose 1.7 percent over June, including distressed sales.

Home prices rose 6.7 percent year-over-year if distressed sales are excluded, and were up 1.5 percent month-over-month, as reported by nationalmortgagenews to MHProNews.

Massachusetts and Mississippi registered a decline in home prices on a yearly basis, including distressed sales, while West Virginia and Vermont saw home prices fall on a monthly basis, also including distressed sales.

Low mortgage rates and stronger consumer confidence are supporting a resurgence in home sales of late,” Anand Nallathambi, CoreLogic’s CEO, said in a news release. ##

(Image credit: globest)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Two of the Top Five Single-family Housing Markets Live in Texas

April 16th, 2015 Comments off

top_5_markets__auction_dot_com__in_housingwire_april_2015Collating data on rising home prices, affordability, strong housing demand, and excellent economic demographics, housingwire tells MHProNews Auction.com has chosen the five top single-family housing markets.

Auction.com Executive Vice President Rick Sharga says, “As the U.S. housing market has continued to recover from the Great Recession, we’ve seen significant regional variances in terms of both price appreciation and sales volume. Earlier in the recovery, most of the growth came from markets that had suffered the biggest declines during the housing bust, but what we’re seeing today is more in line with fundamental economic trends: markets with the best job growth and population growth are recovering most quickly.

Denver tops the list with a 9.2 percent home price growth year-over year and an increase in employment of 4.3 percent in one year. The number two spot is claimed by San Antonio, with its four percent unemployment rate, having added 8,000 jobs in the last two months and a population growth of two percent in 2014.

The third position belongs to Nashville where employment has grown in 12 of the previous 14 months, home sales have risen four percent in the last 12 months and home prices have risen 6.2 percent in the last year. Number four is Fort Lauderdale, which has seen employment grow 4.2 percent over the past year, one of the fastest growth rates of major metro areas, and median home prices have risen 7.8 percent during the last 12 months.

Rounding out the top five is Dallas, having added 20,000 new jobs in the past two months—total employment has increased 4.5 percent in the last year—and home sales are at their highest level in seven years. Home prices have risen 26.4 percent in three years, 7.3 percent in the last year alone. It should be noted that two of the top five are in Texas, which has consistently been the top shipment state for manufactured homes since the production recovery began in August, 2011. ##

(Graphic credit: auction.com/housingwire)

matthew-silver-daily-business-news-mhpronews-com  Article submitted by Matthew J. Silver to Daily Business News-MHProNews.

Home Prices have Risen Monthly for over Three Years

April 8th, 2015 Comments off

home_pr_increase___etftrends_creditAs housingwire informs MHProNews, the latest report from CoreLogic says home prices nationwide rose 5.6 percent in Feb. 2015 over Feb. 2014, but increased only 1.1 percent from Jan. 2015 to Feb. 2015, indicating home price growth may only be temporary. Analysts are concerned that stagnant wage growth may hold back growth in the housing market.

Chief economist for CoreLogic Frank Nothaft says, “Since the second half of 2014, the dwindling supply of affordable inventory has led to stabilization in home price growth with a particular uptick in low-end home price growth over the last few months. From February 2014 to February 2015, low-end home prices increased by 9.3% compared to 4.8% for high-end home prices, a gap that is three times the average historical difference.

CoreLogic forecasts home prices will rise 0.6 percent from Feb. to March, and 5.1 percent from Feb. 2015 to Feb. 2016. Home prices have risen for 39 consecutive months. ##

(Image credit: etftrends— housing prices rising)

matthew-silver-daily-business-news-mhpronews-com  Article submitted by Matthew J. Silver to Daily Business News-MHProNews.

FHFA: Home Prices Edge Up

March 26th, 2014 Comments off

Looking only at sales of Fannie Mae and Freddie Mac, the Federal Housing Finance Agency’s house price index (HPI) reports home prices rose slightly in January over December, and increased 0.05 percent last month over January. Since February 2012, this marks the 23rd rise in in the past 24 months. However, as housingwire.com tells MHProNews.com, house prices rose 7.4 percent January 2013 to January 2014. Currently, the HPI is eight percent below its peak of April 2007, but roughly the same as it was in May 2005. ##

(Image credit: globest.com)

Foreclosure and Home Price Decline Bodes Well for Stability

January 22nd, 2014 Comments off

Gordon Crawford of DataQuick, noting the months of increasing home values in the 42 markets the company analyzes in its Property Intelligence Report (PIR), says the substantial drop in prices in December is a good sign that the housing market is leveling off, according to nationalmortgagenews.com. “It shows that home prices are starting to respond to fundamentals rather than proceed along a speculative bubble-like track,” he added. “However, even with this slowing pace, home prices remain above the rate that can be sustained by currently weak economic drivers, as average annualized home price growth across all 42 reported markets remained abnormally high at 9.9%.” Additionally, MHProNews.com has learned the PIR revealed foreclosures fell in 26 or the 42 counties on a monthly basis.

(Image credit: Fotosearch)

S&P Case Shiller: U. S. Home Prices Highest in Nearly Eight Years

December 31st, 2013 Comments off

The S&P/Case Shiller Home Price Indices reveal home prices in the 20 largest U. S. metro areas notched a 13.6 percent yearly increase, marking the highest gain since Feb. 2006 and the 17th month of annual increases. Thirteen cities earned a double-digit rise, according to worldpropertychannel.com. While average home prices have returned to mid-2004 levels, the National Association of Realtors (NAR) forecasts a six percent increase in 2014. As MHProNews has learned, chairman of the Index Committee at S&P Dow Jones Indices David M. Blitzer said, “The key economic question facing housing is the Fed’s future course to scale back quantitative easing and how this will affect mortgage rates. Other housing data paints a mixed picture suggesting that we may be close to the peak gains in prices. However, other economic data point to somewhat faster growth in the new year.”

(Image credit: housingwire.com–house prices rise)

Home Prices will Moderate in Nov. and Dec.

December 4th, 2013 Comments off

Marking the 20th consecutive month of yearly increases, home prices in the U. S. increased 12.5 percent in October, compared to last year, according to CoreLogic. The worldpropertychannel reports CoreLogic’s Home Price Index, when including distressed sales, rose just 0.2 percent in October, 2013. Anand Nallathambi, president and CEO of CoreLogic, says, “The deceleration in month-on-month trends was anticipated as strong gains in home prices over the spring and summer slow in line with normal seasonal patterns and the impact of higher mortgage interest rates.” As MHProNews has learned, Dr. Mark Fleming, chief economist for CoreLogic, adds, “The monthly growth rate is expected to moderate even further in November and December. The slowdown in price appreciation is positive for the housing market as almost half the states are now within 10 percent of their respective historical price peaks.”

(Image credit: etftrends.com)

Home Prices Notch Double Digit Growth

November 26th, 2013 Comments off

In yet another measure of the housing market recovery, the S&P/Case Shiller Home Price Index reveals home prices rose 11 percent from a year ago, the first year-over-year double digit gain since early 2006, before the housing bubble hit its high. The gain over last quarter was three percent, following a seven percent increase from Q2 2013. David Blitzer, of S&P Dow Jones, says, “The data suggest a market beginning to shift to slower growth rather than one about to accelerate,” in response to others’ concerns that the housing market is beginning to form another bubble. As CNNMoney tells MHProNews, mortgage rates remain at historically low rates, although they have risen in recent months; but the rebound in home prices also means fewer borrowers are in underwater loans, freeing them up to sell their homes and perhaps buy another one, which also spurs the return of the housing market. This Case Shiller index examines single-family home prices across nine Census Bureau divisions.

(Image credit: globest.com–housing market recovery)

Quarterly Home Prices Rise the Most

November 15th, 2013 Comments off

Marking the fastest quarterly growth since the current recovery began, the latest FNC Residential Price Index (RPI) rose 2.5 percent from Q2 to Q3 2013. As HousingWire informs MHProNews, FNC attributes the growth to rising home sales and a drop in foreclosure sales. Nationwide, foreclosure sales accounted for 13.4 percent of total home sales as of September, a slight increase over August’s 12.7 percent, but significantly down from 16.6 percent a year ago. Home prices will grow more slowly in the coming months as the demand for houses contracts in the winter.

(Image credit: globest.com)