Tag Archives: Home Prices

The National Association of Home Builders released new figures from their Leading Markets Index (LMI), revealing 58 out of approximately 350 metro areas have either returned to or exceeded their last normal levels of economic and housing activity. The index’s nationwide score registered at .87, meaning economic and housing activity is running at 87 percent of normal levels.

While "tech hub" metros have experienced elevated price gains compared to the rest of the nation, a recent analysis from Trulia chief economist Jed Kolko argues that the two may have little to do with one another. Rather, tech hubs "had steeper price declines during the bust and have fewer homes stuck in foreclosure today–and both of those factors are driving the current price rebound."

The number of homes sold for more than $1 million in California increased 45.1 percent in 2013 against 2012, according to real estate information service DataQuick. Last year, 39,175 homes sold over the million dollar mark versus 2012's 26,993 homes. Of those homes, 10,602 were bought with cash. Those homes that were financed in this price bracket had a median down payment of 30 percent.

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.

CoreLogic released its Home Price Index (HPI) for December 2013, noting an 11 percent bump since December 2012. Anand Nallathambi, president and CEO of CoreLogic, was optimistic about the future: "After six years of fits and starts, we can now see a clearer path to a durable recovery in single-family residential housing across most of the United States."

CoreLogic anticipates a substantial deceleration in home price gains this year. In fact, the firm predicts home price gains will fall just below the long-term historical norm of 4.5 percent appreciation annually, which has been maintained since 1975.

RealtyTrac released on Thursday its Year-End and Q4 2013 Home Flipping Report, which shows single-family home flips—in which a home is purchase and sold again within six months—totaled 156,862 last year, up 16 percent from 2012 and 114 percent from 2011.

Massachusetts home sales came down for the second month in December, while prices continued to increase at a steady clip, the Warren Group reported Wednesday. Single-family home sales in the Bay State dropped less than a percent last month to 3,712 from December 2012’s 3,725. According to the company, it was the lowest number of sales recorded in one month since April. “Sales and prices set a torrid pace in the third quarter of 2013 and through October. Now the market is taking a breather,” said Timothy M. Warren Jr., CEO of the Warren Group.

As the Super Bowl approaches, the sports world is abuzz with comparisons of the two teams facing off Sunday as analysts compare everything from the number of veteran players to yards gained during the season. At the same time, ZipRealty, a national online real estate brokerage based in Emeryville, California, looked at the stats to compare the two teams’ home housing markets. Denver’s market pulls ahead of Seattle at least marginally in four out of five categories.

The ongoing price recovery and rise in positive equity around the country has been cause for celebration among many industry commentators--but they’re not much comfort to those who continue to struggle to pay their mortgages, Fitch Ratings says in a new release. Over the last two years, Fitch estimates the percentage of borrowers entering foreclosure with positive equity has roughly doubled. “It is clear that rising home prices have had a positive influence on borrower behavior. However, some portion of borrowers still exhibit an inability to recover as the economy has moderately improved,” the agency said in its analysis.