Inventories of homes for sale for over one million rose above 30,000 nationally last week according to the Institute for Luxury Home Marketing’s weekly housing report. Read More »
Market Trends
Three Biggest Lenders Close Over Half of U.S. Mortgages
More than half of last year’s mortgage originations were generated by just three lenders, according to the Fourth Quarter 2010 Mortgage Lender Ranking from MortgageDaily.com. Read More »
Challenges Face Luxury Homes
Things were looking up for luxury home sales during the tax credit boomlet last year. However, the credit wasn’t the primary reason; after all, $4000 isn’t a compelling incentive to well-heeled move up buyers in the million dollar plus housing bracket. Read More »
Home Prices Teeter on a Double Dip
A 20-city composite of home prices through October as measured by the S&P/Case-Shiller Indices is teetering on the brink of falling below recent lows in 2009 to create a price new low and achieve the “double dip” in prices long feared by the real estate industry. Read More »
Shared Equity: Roadmap to Homeownership Sustainability
Shared equity initiatives for low income families who buy homes below market value deliver sustainable homeownership solutions, low delinquency and foreclosure rates, and families who sold shared equity homes were able to use sales proceeds to purchase market-rate homes, according to Urban Institute. Read More »
Midwest Home Prices Plunged in November
Home prices have fallen on a national basis for three months in a row, declining by 5.8 percent in November compared to August, according to a leading price index released today. The Midwest region experienced the biggest quarterly price change (-9.9 percent) and increasing numbers of local markets dropped into double dip territory. Read More »
Mortgage Rates Soar
Freddie Mac’s weekly survey of interest rates rose for the first time in eight weeks, soaring 22 basis points for a 30-year fixed loan, the highest rates have been since August and the largest one-week increase since June 4, 2009 when the rate on a 30-year fixed rose 38 basis points. Read More »
Falling Prices: CoreLogic Makes it Two in a Row
Home prices declined for the second month in a row after rising slightly for the first seven months of the year, according to CoreLogic’s Home Price Index for September. Read More »
Sellers’ Profits Fell 8 Percent Last Year
Even though home sellers are holding on to their homes longer, they are making less profit from the equity in their homes when they sell, according to new data from the National Association of Realtors. Read More »
Rental Vacancies Shrink, Ownership Vacancies Rise
Nothing shows the pendulum swinging away from home ownership and towards rentals more clearly than the latest vacancy data from the Census Bureau. Read More »