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Tag Archives: S&P/Case Shiller Home Price Indices

RE/MAX: New England Housing Prices Increased in 2010

According to a report from RE/MAX of New England, home prices in some New England states increased in 2010 despite recent data by the S&P/Case-Shiller Home Price Indices that shows broad-based declines in home values. Rhode Island, which has the highest unemployment rate in New England at 11.6 percent and the fifth highest in the nation, showed average price increases in homes across the board. Massachusetts and Connecticut also posted notable increases in home prices.

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S&P Index Records Sharpest Drop in Home Prices Since 2009

The latest home price gauge published by Standard & Poor's recorded its largest monthly decline since February 2009 and its largest annual decline since December 2009. The data has led the firm's top analysts to make the claim, ""The double-dip is almost here."" The closely watched S&P/Case-Shiller Home Price Indices registered a decrease in residential property values in all 20 cities included in the study between September and October. Sixteen also posted declines from their October 2009 levels.

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Research Firm Says Housing Currently Undervalued by 14% to 17%

The sharp fall in residential property prices in the third quarter means that housing in the U.S. has become even more undervalued. Based on the latest readings of two closely watched industry gauges, the analysts at Capital Economics have concluded that house prices are now 14 to 17 percent undervalued relative to disposable income per capita. A 30-year high in housing affordability hasn't been enough to drive consumer demand, and the research firm says recovery appears to have stalled before it even really began.

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S&P Case-Shiller Index Records Broad-Based Declines in Home Prices

Home prices in the United States fell 2.0 percent in the third quarter of 2010, breaking what had been a trend of fairly steady gains since early last year, Standard & Poor's reported Tuesday. The company's closely watched national index had recorded quarter-over-quarter increases in four of the last five three-month periods, including a 4.7 percent rise in the second quarter of this year. Many analysts are expecting that dreaded double dip to set in before next spring.

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MBA Forecasts 2011 Origination Volume to Be Lowest Since 1996

Home loan production is expected to come in below $1 trillion for the 2011 calendar year, according to figures released this week by the Mortgage Bankers Association (MBA). If the trade group's projections pan out, it will be the industry's lowest level of home lending volume in 14 years. MBA's economists say next year's drop will be driven by a decline in refinance originations as mortgage rates head higher, but the industry will see an increase in purchase originations.

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S&P Case-Shiller Index Records Widespread Declines in Home Prices

Home prices across the country slipped in August, Standard & Poor's reported Tuesday. The agency's closely-watched gauge of residential property values recorded a 0.1 percent drop in the composite reading of 10 cities tracked, while the 20-city composite posted a 0.2 percent decline. Home prices decreased in 15 of the survey's 20 metropolitan statistical areas on a month-to-month basis. Only Chicago, Detroit, Las Vegas, New York, and Washington D.C. posted what S&P called ""marginal improvements.""

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Clear Capital Reports Sudden and Dramatic Drop in U.S. Home Prices

Clear Capital issued a market alert Friday after identifying what the company called a ""dramatic change"" in U.S. home prices. The valuation firm's index is showing a 5.9 percent two-month drop in home prices through September and October, representing a magnitude and speed of decline not seen since March 2009, the height of the housing downturn. The company says this significant drop in prices, in advance of the typical winter housing market slowdowns, paints an ominous picture that will likely persist through the first quarter of 2011.

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Case Shiller Index Posts 0.6% Increase in July, but Gains Are Slowing

Home prices rose again in July, according to one of the industry's most closely watched gauges of property value trends. The S&P/Case Shiller Home Price Indices released Tuesday showed a 0.6 percent increase in the average price of a single-family home across the 20 major U.S. cities included in the study. S&P says, though, that annual growth rates have slowed considerably. During the month of July, 16 of the 20 metros saw their annual gains retreat.

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Market Forecasts for Home Prices Continue to Darken

Home prices have hit upon relatively stable ground in recent months -- a welcome reprieve from the freefall days most markets had grown acutely accustomed to after the reverberating bursting of the housing bubble. But that stability may be fleeting fast. If you heed the words of the seers keeping a close watch over industry trends and movements in price lines, you should be bracing for another decline in property values, as the elusive floor drops a little lower.

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Home Prices Edge Up in June, but Appreciation Already Slowing: S&P

Home prices rose in June for the third consecutive month - a precipitate of the homebuyer tax credit that sparked a flurry of purchase activity in the spring. Buyer demand, though, has now dropped off substantially, and it's a trend that will likely rob the market of the recent rebound in home prices. According to the S&P/Case-Shiller index released Tuesday, home prices rose 1.0 percent in June compared to May. While June itself was positive, growth rates have already decelerated in 14 of the 20 metros included in S&P's study.

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