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Tag Archives: Clear Capital

National Home Prices Down 5%, Local Pockets See Gains: Clear Capital

Home prices continue to plunge across much of the U.S., according to Clear Capital, but the company says it's seeing trends at the micro-market level which give credence to the old adage that real estate is local. Clear Capital's home price report released Tuesday shows that residential values at the national level are down 5 percent for the three months ending in October. Several markets in the East are bucking the national trend and posting gains, but Clear Capital also names six markets that have already entered double dip territory.

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CoreLogic Home Price Index Falls for First Time This Year

Home prices in the U.S. declined 1.5 percent in August compared to a year earlier, CoreLogic reported Monday. It's the first time this year the company's index has recorded an annual drop. Mark Fleming, chief economist for CoreLogic, warned that price declines are expanding geographically. Seventy-eight of the largest 100 metros included in the firm's study posted lower prices in August. CoreLogic's assessment is in line with what's expected to be a downward trajectory for home prices in the months ahead.

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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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Clear Capital Sees Evidence of Early Winter Slowdown in Home Prices

Data released by Clear Capital Thursday shows that quarter-over-quarter home prices were down 0.2 percent in September compared to the previous month's reading. It's the first time in months the company has seen national home prices slip into negative territory. Clear Capital says signs of a slowdown are apparent and likely mark an early onset of the typically weaker winter season. However, the company says home prices are still 10 percent above their 2009 lows, so the risk of carving out a new trough this year remains small.

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Report: Price Gains Narrow, but Double Dip Not Expected…until Spring

A study released by Clear Capital Thursday shows that quarter-over-quarter home prices were up 5.7 percent in August, compared to the previous month's reading. It's a gain, but the company says price increases are beginning to narrow and appear to be poised for a descent. Even with the slowdown, Clear Capital's assessment is that home prices won't fall below the lows seen in 2009 and bring about that dreaded double dip...at least not until next spring.

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BP Oil Spill Devastating Coastal Housing Markets, and Spreading Beyond

One in four real estate professionals polled by Clear Capital said the BP oil spill has brought home sales to a halt and is pushing already depressed property values lower along the Gulf Coast, with the impact even spreading beyond the coastal region to nearby areas that have seen no physical damage from the environmental catastrophe. Areas of Alabama and the Florida Panhandle are reporting an estimated 5-15 percent decline in home values and a drop in sales volume in June ranging from 25 percent to 33 percent.

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Housing Markets Becoming Less Saturated with REOs: Reports

The nation's REO stock fell 0.6 percent in May to 524,000 properties, according to Barclays Capital. In addition, the research firm estimates that housing's shadow inventory - which Barclays defines as the supply of homes nearing REO status - declined by 2.3 percent to 4.02 million properties. A separate study released by Clear Capital supports the assumption that indeed, there are fewer REOs influencing the market. The company says the percentage of bank-owned homes sold as compared to all properties sold dropped 22.7 percent during the May-July period.

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