Tag Archives: Home Sales

Freddie Mac made suggestions on what housing might look like in 2013 in its December outlook report. Overall, the GSE expects to see a continuation of positive trends. For one, property values should still rise into the next year and are likely to increase by 2 to 3 percent, Freddie Mac reported. The market should also see more households, with household formation expected to expand from a net 1.20 million to 1.25 million households.

Consumers' perceptions of housing and the economy are growing more and more positive, according to responses in Fannie Mae's November 2012 National Housing Survey. Attitudes about the current selling environment continue to improve, with 23 percent of respondents saying now is a good time to sell a home, the highest percentage since the survey began in 2010.

Strong positive indicators in the housing market have Capital Economics revising its predictions on growth in 2013 and beyond. According to the firm's most recent US Housing Market Analyst report, Capital Economics foresees ""further strong gains in home sales and housing starts in 2013,"" as well as improvements in prices and mortgage activity. According to the report, ""[t]he improvement in sales will continue to owe a good deal to investors and cash buyers, who are attracted to housing by the sheer extent to which it is undervalued and the prospects for strong rental market demand.""

HUD's next sale as part of the Distressed Asset Stabilization Program (DASP) will include even more loans. The agency announced it will put out about 10,000-15,000 loans in its next sale, which will take place in the first quarter of 2013. The most recent sale in September included about 9,000 loans.

Despite reports of improvements in home prices and sales, Radar Logic argued that upon closer examination, the housing market is not doing as well as assumed. As of September 25, 2012, Radar Logic's RPX composite price increased 5.2 percent year-over-year across 25 metro areas, according to the company's monthly housing report. However, the increase in prices tracked by Radar Logic is not a result of ""significant appreciation in household-owned homes,"" the report stated. Instead, it is due to a decline in ""motivated sales,"" or sales of foreclosed homes and REOs.

National gains for rentals still grew faster than asking prices for homes in November, but in certain metros, the trend was reversed, Trulia reported Tuesday. According to data from Trulia, rent prices in November increased by 5.6 percent year-over-year, while asking prices for homes were up 3.8 percent, representing the biggest increase so far this year. Even though rents stayed ahead with bigger improvements, asking prices in 14 of the 25 largest rental markets managed to post greater increases compared to rents, the data provider revealed.

Clear Capital released a new market report Tuesday, tracking home prices through the end of November. Nationally, quarterly price gains were cut by more than half compared to readings from the month before. For November, home prices edged up just 1 percent. Even with fewer fair market sellers listing their homes, Clear Capital says REO sales held steady at 18.4 percent of total sales--a level that will put minimial pressure on home prices should it hold through the winter months.

The Bethesda/Gateway office of Long & Foster Real Estate, Inc., was recently presented with a proclamation from Maryland Comptroller Peter Franchot in recognition of the sales office surpassing $1 billion in settled real estate sales for 2012.

Despite a number of potentially damaging headwinds, the ongoing housing recovery will remain sustainable for the foreseeable future, analysts for Capital Economics say in a recently released report. The housing industry's rapid rebound took many experts by surprise--even the researchers who authored the report admit they ""have been slightly taken aback"" by the recovery's speed. However, they point to several major indicators that show the current upturn is more than a temporary blip or a false recovery.

Fixed mortgage rates showed little signs of movement in the last full week of November, hovering near record lows as market worries heightened over the impending fiscal cliff. Freddie Mac puts the average 30-year fixed mortgage rate at 3.32 percent and the 15-year rate at 2.64 percent. Analysts say uncertainty surrounding the fiscal cliff has businesses, consumers, and financial markets all feeling uncertain themselves, which will keep mortgage rates at these levels as long as talks drag on in Washington.