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Tag Archives: Clear Capital

Report: Despite Gains, National Price Peak Far Off

As home prices continue to soar year-over-year and commentators draw lines to historical averages, Clear Capital offers one piece of advice to all those waiting to see a national peak anytime soon: Don’t hold your breath. In its latest Home Data Index Market Report, the company says the market won’t reach peak prices again until 2021 at its current rate of growth.

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Analyst: Today’s Recovery Is ‘Atypical’ but Undeniable

In a report released this week, Clear Capital linked high levels of distressed sales activity with high levels of home price appreciation, something that may seem out of the ordinary. However, in a conversation with DS News Wednesday, the company's VP of research and analytics explained that this trend is in keeping with the ""first-in-first-out"" recovery the nation has been experiencing over the past 18 months.

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Higher Price Gains Align with Higher Levels of Distressed Sales

While analysts across the industry are reporting waning price gains as we head toward winter, Clear Capital also points out another interesting and perhaps counterintuitive trend occurring in the housing market. Prior to the recovery, high saturations of distressed sales correlated with falling prices, but today's market reveals a switch, with high levels of distressed sales taking place alongside higher price gains.

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Report: Housing Stable Despite ‘Bubble-Like’ Gains in August

August price gains were reminiscent of those last seen during the peak of the bubble--but analysts at Clear Capital insist there's nothing to fear at this point. ""With the continued strengthening of home price trends in August, the need for perspective on market activity is even more important,"" said Dr. Alex Villacorta, VP of research and analytics at Clear Capital. Looking under the surface trends, Villacorta notes the low-tier price segment of the housing market saw quarterly gains of 2.0 percent, indicating a more moderate growth path.

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Upstate New York, Southwest Florida, Bay Area California Lead Recovery

RealtyTrac observed 100 large metro areas across the country for evidence of recovery based on seven indicators, including unemployment rate, the rate of underwater homeowners, the change in foreclosure activity from its peak, the change in median home price from its trough, the percentage of distressed sales, the share of sales to institutional investors, and the share of cash sales. Rochester, New York, topped the index with several positive indicators, including low unemployment, low underwater rates, low distressed sales, rising home prices, and a large drop in foreclosures.

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Report: Price Gains to Moderate in 2nd Half of 2013

In July, national home prices jumped 9.3 percent year-over-year, led by gains in the West, according to Clear Capital's latest housing report. Among metro areas, price gains were especially strong in Las Vegas, where home values spiked 31.2 percent from last year. Despite the recent streak of impressive home price gains, Clear Capital expects the market to experience more moderate and sustainable increases in the last half of 2013 as homebuyers transition into the ""new normal"" the report explained.

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Report Projects Above-Normal Price Growth, Strong Metro Area Gains

At a national level, Clear Capital revised its 2.6 percent projected price gain over the year this year up to 6 percent. While lower than the current yearly gain of 8.6 percent, this forecast is still greater than historical norms, which rank between 4 and 5 percent. Meanwhile, 45 of the top 50 metropolitan markets will experience yearly price increases during the second half of the year, according to Clear Capital's forecast.

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Amid Regional Gains, Metros Present Wide Range of Price Shifts

While national home prices continue to post gains, Clear Capital's VP of research and analytics, Alex Villacorta, insists ""granularity in home prices remains key."" At a broad regional level, prices increased the most in the West (2.4 percent) and least in the Midwest, 0.7 percent. The South and Northeast fell in between with gains of 1.1 percent and 0.8 percent, respectively. At the metro level, Las Vegas outpaced Phoenix as the metro with the greatest price gain on a yearly basis. Phoenix held this rank from April 2012 until now.

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Home Prices on Path to Stabilization This Year

After coming to a ""turning point"" last year, the housing market is now stabilizing, according to Clear Capital's monthly Home Data Index. ""2013's forecasted trajectory is one of moderation and stabilization,"" according to Clear Capital. Home prices rose 7.2 percent on an annual basis in April. Last April's annual price change was a decline of 1.4 percent year-over-year.

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Report: Prices Post First Winter Quarterly Gain in 7 Years

For the first time since 2006, national home prices survived winter without experiencing a quarterly decline, according to Clear Capital's market report for March. Home prices ended last month with a 6.5 percent year-over-year improvement, while the quarterly gain was a modest 0.9 percent. On a regional basis, Clear Capital found quarterly growth was the strongest in the West, where prices were up by 2.2 percent. Over the next three quarters, Clear Capital is projecting growth of 1.7 percent, which would bring the 2013 forecast to 2.6 percent.

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