RealEstateEconomyWatch.com Insight and Intelligence on Residential Real Estate
As summer days fade away into fall, the long term impact of this year’s buying season on prices is coming into clear focus. Read More »
Recovery Signals
Go Figure: Record Low Rates AND Record Low Mortgage Apps
The latest headlines from Freddie Mac and MBA make it clear beyond a doubt that the old assumptions about the housing economy no longer work. Read More »
Seasonal Buying Drives June Prices
June home prices rose for the third consecutive month, ending the month with the largest seasonal gain year to date. Read More »
Purchase Mortgages Falling to 20 Year Low!
Lenders will write fewer mortgages for home buyers this year than in any year since 1991. Read More »
June Prices Still in Red; Northeast Booms
National average home prices in June were still 7.9 percent below a year ago, which was the height of the boomlet spawned by the tax credit. However, prices are still up 4.1 percent over the first quarter. Read More »
Contract Rate Falls to 2011 Low
The National Average Contract Mortgage is 4.62 percent, lower than it has been all year. This is a decrease of 0.12 percent from the previous month. Many lenders use this rate in adjusting some adjustable-rate mortgages. This index was the only index rate that federally chartered savings and loan associations could use as an adjustable-rate mortgage index in the early … Read More »
“Normal” Home Prices are Stabilizing
Prices of “normal” homes-those that aren’t foreclosures or short sales-are stabilizing and the numbers of future foreclosures are falling. That “sliver of good news for consumer spending” was included in CoreLogic’s July report on housing and market trends. Read More »
RE/MAX Reports Inventories Are Shrinking
Inventories in 53 markets surveyed last month by RE/MAX are down nearly fifteen percent from a year ago, when the tax credit boom was winding down, another indication that housing markets have recovered from the tax credit-induced sales boom and the bust that followed it. Read More »
High Rollers Move Up
While a third of homeowners struggle to stay above water on their mortgages, nearly a quarter of those in the upper income tiers have been trading up to take advantage of deals in the luxury home market.
Read More »Agents and Owners Turn Increasingly Pessimistic on Values
Half of agents and 42 percent of homeowners in a second quarter survey expect home values to decrease or stay the same through the end of the year, according a second quarter survey. Read More »