Articles Tagged with ''Real estate pricing''

OFHEO: Housing Prices Decline for First Time in 13 Years

The Office of Federal Housing Enterprise Oversight's HPI numbers for the third quarter are out today, and registered a quarterly decline for the first time in thirteen years, with the aggregate index dropping 0.4 percent versus the second quarter of 2007. The HPI purchase-only index dropped 0.3 percent on a seasonally-adjusted basis, OFHEO said. Year over year, the HPI showed an increase of 1.8 percent -- the lowest four-quarter increase since 1995.
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Existing Home Sales Pace Hits Record Low in October

Existing home sales fell 1.2 percent to a record low of of 4.97 million unit-pace in October, according to a report from the National Association of Realtors that underscores how difficult the current housing market has become. In addition to sales volume, median existing-home prices fell 5.1 percent on a yearly basis to $207,800, the largest such percentage drop in prices since the realtor-led association began tracking complete housing market data in 1999.
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NAR: August Resales Off 12.8 Percent From Year-Ago Levels

The National Association of Realtors released its existing-home sales report today, which showed a 4.3 percent drop in total existing home sales to a seasonally adjusted annual rate of 5.50 million units in August from a level of 5.75 million in July. The August number is 12.8 percent below the 6.31 million-unit pace recorded in August 2006, the trade group said.
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Study: Home Prices Weakest in a Decade

Global Insight has released its quarterly report on home prices and housing market valuations, which found that prices posted the weakest year-over-year gain since 1995 during the second quarter. Prices appreciated just 2.6 percent nationally in the yearly comparison, according to the report. Click here to request access to the full report.
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Existing Home Sales Fall 11.4 Percent; Inventory Numbers Stay at 15-Year High

The NAR's existing homes report is out today, which shows sales volume off 11.4 percent from year-ago levels, registering an annualized 5.75 million units in June. The June numbers are off 3.6 percent from May's downwardly revised sales numbers, the NAR said, and represent the slowest pace of existing home sales in roughly five years. The national median existing-home price for all housing types was $230,100 in June, up 0.3 percent from June 2006 when the median was $229,300.
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Study: 'Overvalued' Markets on the Decline

The incidence of overvaluation in the nation's housing market continues to decline, the result of falling home prices, according to a new report released today by Global Insight. The 2006 fourth quarter update of the U.S. Housing Valuation Analysis, a joint effort between Global Insight and National City Corporation, found that the overall number of single family housing units deemed to be overvalued eased down from 17 percent to 16 percent of the total number of single family housing units. In terms of single family asset value, the percent deemed to be over-valued fell to 28 percent from 31 (revised) percent in the prior quarter.
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NAR: Home Sales Volume, Median Prices Drop

Sales of existing homes remained significantly below year-ago levels in January, reaching a seasonally-adjusted rate of 6.46 million units. January sales volume was 4.3 percent below the 6.75 million-unit level reported in January 2006; median prices also dropped 3.1 percent from year-ago levels, the NAR reported. Total housing inventory levels rose 2.9 percent at the end of January to 3.55 million existing homes available for sale, which represents a 6.6-month supply at the current sales pace, unchanged from the revised December level. Inventory peaked at 7.4 months in October.
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Connecticut Housing Endures Worst Year Since 1996

Connecticut's housing market faltered in 2006, as the double-digit increases in median price that had characterized the previous four years came to a halt. The year-end median price for single-family homes rose just 0.7 percent over 2005's prices, while sales volume suffered as well, with 37,227 single family homes sold. The sales number represented the first time fewer than 40,000 were sold in a year since 1996, according to Boston-based The Warren Group, a provider of real estate data for the New England region of the US.
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NAR: Existing Home Sales Will Recover in 2007

Striking a stance that it has held throughout the recent housing slump, the National Association of Realtors said late Wednesday that it expects existing home sales to rebound in 2007, while new home sales volume lags behind until 2008. "After reaching what appears to be the bottom in the fourth quarter of 2006, we expect existing-home sales to gradually rise all this year and well into 2008," said NAR chief economist David Lereah.
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NAR: Housing Will Rebound in 2007

The National Association of Realtors said today that it is pegging the fourth quarter of 2006 as the trough in the recent housing slump. According to a statement released by the trade association on Wednesday, the NAR said it expects existing-home sales to gradually rise through 2007 and into 2008, while new-home sales are forecast to turnaround by summer.
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