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A wave of foreclosures is forcing down home prices in most major U.S. cities. But economists and real estate agents are noticing what they call a key first step for any housing recovery: a drop in the glut of homes for sale in markets hit hardest by foreclosures.
If we were to see several consecutive months of supply getting smaller, it would point to an improving housing market, said Celia Chen, senior director…
Added by Your Property Path on April 28, 2011 at 10:39pm — No Comments
We all know whats happening to the single family home markets. Over supply and shadow inventory and the subsequent price declines will continue until fear is overcome and inventory is soaked up.
The kinds of issues that led to a boom bust in housing did not take place with multi family. There was no build out leading to over supply and the lender market was much more rationlized. Little of the kind of lending that led to so many foreclosures, ultimately driving home…
Added by Your Property Path on March 30, 2011 at 7:20pm — No Comments
Real Estate Porn
The search bunny keeps on going
Its interesting that online search for real estate is as strong as ever. Sales are miserable, people are afraid to buy. They no longer know what value and they have no job security. So, why is search so strong. Realtor.com President, Errol Samuelson notes that Online search is a critical measure of interest in real estate, especially now that more than 90 percent of buyers search for their homes…
Added by Your Property Path on February 23, 2011 at 7:18pm — No Comments
Case Shiller report shows a deceleration in the annual growth rates in 17 of the 20 MSAs. Housing generally leads the economy out of a recession. This time its not, housing is simply suffering. Not only is money tight but job creation is still a big hurt. In some cities, the decline over the last year was quite sharp.
David M. Blitze,chairman of S.&P.’s index committee tells the NY Times that a double-dip could be confirmed before spring. He goes on to say the series is now…
Added by Your Property Path on February 2, 2011 at 4:51pm — No Comments
NAR Existing Home Sales
Existing home sales which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 5.6% to a seasonally adjusted annual rate of 4.68 million in November, but are 27.9% below the cyclical peak of 6.49 million in November 2009, which was the initial deadline for the first-time buyer tax credit. Median existing single-family home prices rose year-over-year in 77 of 155 metropolitan areas and fell in 76…
Added by Your Property Path on December 29, 2010 at 8:06pm — No Comments
Added by Your Property Path on September 19, 2010 at 7:03pm — No Comments
Added by Your Property Path on August 25, 2010 at 8:21pm — No Comments
Added by Your Property Path on June 30, 2010 at 9:38pm — No Comments
Added by Your Property Path on June 1, 2010 at 11:18pm — No Comments
Added by Your Property Path on May 28, 2010 at 10:38pm — No Comments
Added by Your Property Path on May 27, 2010 at 12:30am — No Comments