Tag Archives: Home Sales

As homeowners hold back from selling, home prices are benefiting, according to a report from Redfin, which tracked home prices in 19 U.S. markets. While prices remained flat month-over-month (-0.1 percent) from June to July, Redfin found prices rose 3.2 percent from July 2011 to July 2012. However, the number of homes for sale fell 28.1 percent during the same one-year period and also declined 5 percent from June.

Hawaii is seeing a number of lawsuits against banks related to allegedly unfair foreclosure sales practices, The Honolulu Star-Advertiser reported Tuesday. Lawsuits have been brought against Deutsche Bank National Trust Co., Bank of America, U.S. Bank N.A., and Wells Fargo. In addition, a suit has also been filed against Routh Crabtree Olsen, a Washington firm with offices in Hawaii, for its alleged involvement.

Weak growth characterized single-family home sales in Connecticut for June, according to a report from The Warren Group. Single-family home sales inched up 0.4 percent after seeing double digits increases in April and May. While the gain in June was small, it was still a move in a positive direction and represents the sixth consecutive month of increases.

June marked the 12th straight month of year-over-year home sales increases in Seattle, according to a report from DataQuick. Although sales in some of the lower price ranges declined, increased activity in higher ranges made up for those drops. The median sale price rose year-over-year for the third consecutive month-hitting a nearly two-year high-as the market shifted toward mid- to high-end transactions and foreclosure resales fell.

A new report suggests that Sacramento, California may follow Phoenix as the next hard-hit metro to rise out of the ashes. Pro Teck Valuation Services released its August Home Value Forecast Update, putting a focus on which of the hardest hit metros might bounce back and become investment or home purchasing opportunities. According to the report, market-based indicators suggest that Sacramento might be ""the next Phoenix,"" referring to the hard-hit Arizona metro that has seen dramatic improvement this year.

When including distressed sales, CoreLogic reported a 2.5 percent yearly increase in home prices in June, and a 1.3 percent increase month-over-month from May. The rise in home prices is the fourth consecutive increase on a yearly and monthly basis, and CoreLogic's Pending HPI is forecasting at least a 0.4 percent monthly increase in July. In response to CoreLogic's report, Capital Economics said that while the gain in June is strong, ""the latest rise was marginally weaker than we would expect in a typical June, meaning that seasonally-adjusted house prices actually eased a touch.""

National home prices seem to be picking up steam, while all four regions posted price gains, Clear Capital reported Tuesday. On a quarterly basis, home prices increased 2 percent in July, and year-over-year, the increase was even greater at 2.2 percent. The yearly increase is the strongest in nearly two years and 0.5 percentage points higher than June's yearly gain.

Eighty metropolitan statistical areas made it onto the National Association of Home Builders' Improving Markets Index for August. This is the same number of markets that made it onto the index in June but four short of the July number. Nine markets dropped off the list this month, unable to maintain their improving status after breaking at least a six-month run of improvement in employment growth, house appreciation, and single-family housing permit growth.

HUD and Treasury Department released the latest scorecard Friday, providing a look at a market in recovery but threatened by an expected increase in foreclosure activity. According to the report, foreclosure starts and completions both declined in June, painting a picture of continued recovery. However, officials expect foreclosure activity to pick up in coming months as firms lift delays in foreclosure processing.

In a study to examine what factors would drive a person to rent or own in their next move, Fannie Mae found that a mix of demographics and attitudinal drivers were key, while negative housing events appears to do little to thwart would-be buyers. The study categorized respondents into three groups: renters, those with a mortgage, and outright homeowners. The study found that renters tended to be younger and fall into the low income category.