Prices have sagged in South Carolina for several years, making markets like Myrtle Beach and Charleston popular sites for dozens of best bargain lists. The latest quarterly report from the government’s FHFA House Price Index (HPI) reports the Charleston market led the nation in price increases during the first quarter. As measured with purchase-only indexes for the 100 most populated … Read More »
April Sales Disappoint
Sales rose in April by 1.3 percent over March, a weak tick upward at the height of the traditional sales season. Sales reached an annual rate of 4.65 million units, marking only the second increase in sales in nine months, short by 6.8 percent from a year ago. The April sales disappointed economists who had expected 4.68 million sales. Sales … Read More »
Who’s Gonna Love Ya When You’re Down and Out?
The problem with the housing market this spring may not be that inventory is too small. It also may not be tight lending standards, massive student loans, lingering levels of negative equity or a peripatetic economy. Maybe it’s just that nobody wants to buy what’s listed. Inventory trends are closely monitored but nobody keeps track of many ugly ducklings linger … Read More »
Mid-tier Home Values Are Still in the Valley
After more than two years of recovery, homes in mid-tier price ranges now offer the now offer home buyers the best deals, relative to peak values, according to a new analysis by Clear Capital. After 32.3% growth from the trough in 2011, low-tier deals appear to be played out compared to mid-tier deals (homes selling between $95,000 and $310,000 nationally), … Read More »
Weak March Sales Threaten To Rain on Price Parade
The year over year price increases that the real estate industry has grown accustomed to may be in for some dicey days if sales in April aren’t better than March. March prices registered an 11.1 increase over 2013, 1.3 percent higher than February, but CoreLogic is forecasting a rise of only 0.8 percent in April. The CoreLogic HPI Forecast indicates … Read More »
What’s Wrong With This Picture?
April is supposed to be the month that real estate agents’ phones ring off the hooks, yard signs sprout like dandelions, buyers line up for showings and offers fall from the sky like cherry blossom petals. Above all, this was to be the spring season when at last all the stars were properly aligned in the real estate galaxy … Read More »
Don’t Blame the Weather!
It might have been the worst winter in a decade or more and no one doubts it impacted housing, but a new analysis by CoreLogic economists concludes there’s more to blame for the winter’s sorry numbers than the Polar Vortex, Single-family housing starts, a closely watched indicator of housing market health, fell by 13 percent month over month in January … Read More »
New Mortgages Fall to 14 Year Low
In yet another sign the recovery is hitting a wall due to strict lending standards: in February monthly mortgage originations dropped to the lowest level in at least 14 years as credit standards have not shown signs of loosening, according to latest Mortgage Monitor Report from Black Knight Financial Services. “February’s data showed the continued trend of declining origination … Read More »
February Prices: CoreLogic ups the Ante
Despite slow sales and paralyzing storms in much of the nation, February year over year prices rose to 12.2 percent, an increase of two points over January and monthly prices rose 0.8 percent, CoreLogic reported today. Home prices nationwide, including distressed sales, rose 12.2 percent in February 2014 compared to February 2013, the 24th month of consecutive year-over-year increases in … Read More »
Rising Prices Seen Driving Investors Out
The salad days of low price tier home sales (homes selling for $95,000 and less) that fueled the recovery over the last two years are ending and with them, the legions of investors that have led the nation’s housing recovery. “The Investors Did Their Job,” headlines Clear Capital’s latest market report. “Can traditional home buyers take it from here?” Deeply … Read More »