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Archives for November 2012

NAR Makes Forecast on Housing, Economy

The National Association of Realtors (NAR) offered market projections into 2014 during a forum at the 2012 Realtors Conference and Expo. NAR chief economist Lawrence Yun says he expects the market share of distressed sales to fall from about 25 percent in 2012 to 8 percent in 2014, according to a release on the forum.  Mark Vitner, managing director and senior economist at Wells Fargo, was one of the speakers at the NAR forum. Vitner compared distressed homes to an after-Christmas sale stating, “most of the … [Read more...]

CoreLogic: September Sees Biggest Yearly Price Gain Since 2006

Home prices in September posted their biggest yearly gain in more than 6 years, but prices displayed a typical seasonal slowdown and fell month-over-month, according to the Home Price Index (HPI) report from CoreLogic. When including distressed sales, the report showed home prices moved higher by 5 percent from September 2011, the seventh straight month of yearly increases and the biggest annual gain since July 2006. From August to September, prices decreased by 0.3 percent. CoreLogic’s … [Read more...]

Will the Upcoming Election Shed Some Light on Shadow Inventory?

Ever since the notorious subprime mortgage meltdown and subsequent collapse of the housing market in 2007-2008, many of the nation’s lenders have found themselves loaded down and plagued with a plethora of foreclosed real estate holdings. Not wanting to create an influx of inventory in what had been an unambiguous buyer’s market for several years, lenders were hesitant to overstep the delicate tenets of supply and demand for fear that such a step would further reduce property values, diminishing their … [Read more...]

Inventory of New Homes Down to Lowest Level in Nearly 50 Years

The U.S. housing market “has entered a sustainable period of improving conditions,” Pro Teck Valuations CEO Tom O’Grady says in the company’s most recent Home Value Forecast. Pointing to “very low mortgage rates, stable to rising home prices, declining unemployment, declining housing inventories and a strong rental market,” O’Grady says housing is in a good position to continue growth. Those positive trends should lead to growth in the overall economy, he adds. “As real estate has historically been one of … [Read more...]