Articles Tagged with ''Real estate pricing''

Seasonal Strength in Home Prices

Following a free fall in much of 2008, the value of many households' largest asset -- their home -- seems to show signs of stabilization so far in 2009. A composite index of 25 major metropolitan areas across the US showed a 0.3% slide from February to March, adding to the composite measurement's Q109 stability, according to a monthly housing report released today by Radar Logic.
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Lereah Sees Far-Off Recovery

Housing sales may hover near the bottom, but market recovery remains a long way off, says economist and author David Lereah in a media statement today that illustrates a surprisingly more conservative market view than he is known for.
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Affordability Improves in California

Housing affordability among first-time Californian home buyers in Q109 improved more than 20 percentage points from the year-ago period, according to survey results released Thursday by the California Association of Realtors (CAR). The data suggest the potential for a significant increase in first-time buyer presence on the market, although it's unclear how many of these households will actually participate. The increased housing affordability indicates substantially lower home prices, likely affected by foreclosure sales in the state.
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Foreclosures Boost Sales, Drag Prices

So-called "distressed" sales including foreclosures and short sales accounted for nearly half of all transactions tracked in Q109 by the National Association of Realtors (NAR). The heavy ratio of distressed sales, which traditionally fetch about 20% less than non-foreclosures, pulled down median home prices in most markets. Of the 152 metropolitan statistical areas (MSAs) tracked by NAR, 134 -- or nearly 87% -- reported lower median existing single-family home prices.
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Housing Market to Clear Up as Prices Continue Drop

The decline of housing sales will continue well into 2010, but the good news is that the end is now in sight, according to analysts at Deutsche Bank. Fitch Ratings also predicts home prices will fall an additional 12.5% during this period, reverting to 2002 prices. Currently, prices are more in line with the average cost of a home in 2003, the ratings agency reports.
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Demand for Distressed Property Props Up Sales Volume

Sales declines in 25 major metropolitan housing markets slowed during January, as the number of "motivated" sales transactions continued to drive sales volume in many of the nation's larger housing markets -- the result is that sales volume declined 6 percent year-over-year in January, compared to a 36 percent decline in the same period one year earlier.
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Existing Home Sales Boosted by Price Discounts

Existing-home sales jumped in February, reversing losses in January, according to the National Association of Realtors.  Even so, sales activity remains relatively soft, NAR said, reflecting additional layoffs and apprehensive buyers. Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 5.1 percent to a seasonally adjusted annual rate of 4.72 million units in February from 4.49 million units in January, which is 4.6 percent below the 4.95 million-unit level in February 2008.
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Impact of Foreclosure Sales on Home Prices: Report

The gap between REO sales prices and the rest of the market is growing at an accelerating pace, according to a recent study by Lender Processing Services, Inc., released Thursday. In general, markets that experienced sharp drops in home prices in 2008 also saw deeper REO discounts, revealing the impact of foreclosure sales on home prices, the study said.
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Listing Prices Down 2.1 Percent in January

The asking prices of homes listed for sale continued to fall in January across most U.S. markets, while listed inventory continued to fall as well, according to a study released Monday morning by Altos Research and market analysis firm Real IQ.
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For Housing, an October to Forget

Housing markets in key major metropolitan areas endured their worst Oct. in at least eight years -- and perhaps longer, as the number of distressed property sales managed to push recorded home prices downward further and a number of key MSAs saw sales volume drop sharply. According to a report from New York-based real estate data and analytics firm Radar Logic, Inc., released Tuesday morning, home prices and sales volumes decreased more in Oct. 2008 than in any other Oct. since the company's data set began in Jan. 2000.
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