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Posts Tagged ‘largest metropolitan areas’

Home Values Spike, especially out West

September 23rd, 2013 Comments off

Of the 30 largest metropolitan areas that the Zillow Real Estate Market report analyzes, 20 experienced annual home value increases of at least ten percent in August, the most significant of which were in California cities—Sacramento rose 34.1 percent—plus Las Vegas and Phoenix. Overall, 85 percent of the 382 markets analyzed by the report saw home prices increase 6.6 percent annually, the largest gain since July 2006 when values rose 7.6 percent. As Stan Humphries, chief economist for Zillow tells nationalmortgagenews, “Double-digit appreciation does help to lift homeowners out of negative equity, and to entice sellers into a low-inventory environment,” but this pace cannot be safely maintained. MHProNews has learned during the coming 12 months Zillow says home values will increase another 5.2 percent to $170,500.

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Housing Market Slowly Moving to Good News

August 29th, 2012 Comments off

Despite slow economic growth and stagnant unemployment figures, HousingWire says according to FNC’s residential price index (RPI), housing prices rose for the fourth straight month in June, up 1.1% from the previous month, in the 100 largest metropolitan areas. Based on new and existing homes, but excluding distressed sales, home prices rose 2.7% Q2 over Q1 2012, the largest rise in six years, and up nearly four percent for the year. Asking prices have increased to a a four-year high, while the gap between asking prices and final sales prices has dropped to a five-year low due to rising demand. MHProNews has learned if the current trend of rising prices continue, July may mark the first time since the housing downturn that prices will have risen year-over-year for the same month.

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Foreclosures Increased Final 7 Months of 2011

May 10th, 2012 Comments off

NationalMortgageNews says new data shows the number of loans in foreclosure plus loans delinquent 90 or more days increased June 2011 to Dec. 2011 from 9.2 percent to 9.7 percent, following six consecutive quarters of decline. Foreclosure-Response.org notes, for the 100 largest metropolitan areas, the foreclosure rate has risen to 5.9 percent, though still well below the 10.5 percent of Dec. 2009. In Florida, which MHProNews.com reported in an earlier story accounts for nearly one-third of all underwater mortgages nationwide, the foreclosure rate has grown at a faster clip. While the national foreclosure rate for the largest 100 markets grew 1.8 percent March 2009 to Dec. 2011, that rate in Orlando, Miami, and Jacksonville hit above five percent.

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Attention Shoppers: The Time to Buy is Nigh

March 26th, 2012 Comments off

In an rent vs. buy index of the 100 largest metropolitan areas in the nation, Trulia has determined it is a wiser decision to buy in 98 of them. The top ten cities where buying a home is a better deal: Detroit, Oklahoma City, Dayton Ohio, Warren-Troy-Farmington Hills Michigan, Toledo Ohio, Grand Rapids Michigan, Cleveland, Atlanta, Gary Indiana, and Memphis. The top ten where renting is smarter: Honolulu, San Francisco, New York City, San Jose California, Orange County CA, Los Angeles, San Diego, Colorado Springs CO, Boston, and Albuquerque NM. Trulia compares neighborhoods and properties, and then calculates the ratio between asking prices for rentals and for-sale homes to arrive at its conclusion. Based in San Francisco, Trulia tells MHProNews.com it  collects information and maintains unique files on desireable places to live through its many contacts with real estate professionals.

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