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Author Archives: Steve Cook
List Prices Flatten Despite Sinking Inventory
Inventories continued to fall to record lows in November and the age of the nation's listings inventory declined, but asking prices failed to rise as housing markets prepared for their annual wintertime hibernation. Read More »
November Sales of Foreclosures and Short Sales Plunge to Lowest Level in Three Years
Distressed homes, foreclosures and short sales, which are sold at a discount and depress home values, have fallen to the lowest levels since 2009 and are still dropping, according to the latest November market reports. Fewer discounted distressed sales contribute to forecasts of improving prices in the new year. Read More »
Asians Lead Ultra Luxury Foreign Invasion
Reduced Immigration and Births Slash Population Forecast
Fifty years from now the US will have 20 million fewer residents than previously forecast, according to the Census Bureau's new national population projections released last week, which will translate in reduced demand for housing than expected. Read More »
Home Sellers Awake
A year of record low inventories of homes for sale and improving prices may finally be catching the attention of millions of prospective home sellers. Is a seller's market in the offing? Read More »
Southeastern and Northeastern Metros Rank Lowest on Home Value Forecast List
While California and Texas markets dominate the top tier of the latest Home Value Forecast ranking, the bottom of the list includes metros that could miss the housing recovery in the months to come. Read More »
Homeowners’ Equity Reaches Highest Level in Four Years
In the third quarter, homeowners' equity rose nearly 18 percent over the level of a year ago to reach the highest level recorded since the second quarter of 2008. Read More »
Luxury Prices Fall Despite Tight Inventories
Though inventory shortages began at the lower price tiers, tight inventories have worked their way up to the luxury levels in the past two quarters. Expensive homes are selling faster than they were a year ago but third quarter prices are down in many markets compared to a year ago Read More »
The Foreclosure Iceberg is Slowly Melting
Iinventories of foreclosures accumulated during the processing slowdown in the wake of the Robogate scandal are slowing shrinking, absorbed by demand so healthy that distress sales are actually rising faster on a national basis than full-priced homes. Read More »