Paradoxes Now, Paradoxes Then

For me the most intersting thing about the latest news on the real estate front is that there just isn’t anyway anyone could find to spin this as less than positive news.  As news on the real estate front nationally continues to be described as anemic at best, locally real estate prices have gone . . . → Read More: Paradoxes Now, Paradoxes Then

Case Shiller: More Signs of Housing Price Recovery

U.S. housing prices are showing more signs of recovery. On Tuesday Case-Shiller released their index of home prices in 20 cities and it rose 0.6 percent in February from last year. The National Association of Realtors reported last week that existing-home prices advanced 0.4 percent in March as sales climbed for the first time . . . → Read More: Case Shiller: More Signs of Housing Price Recovery

Economic Events on April 27, 2010

The weekly ICSC-Goldman Store Sales report will be released at 7:45 AM EDT, and another strong week of sales is expected.

At 8:55 AM EDT, the weekly Redbook report will be released, giving us more information about consumer spending.

The monthly S&P/Case-Shiller home price index report will be released at 9:00 AM EDT.  Given . . . → Read More: Economic Events on April 27, 2010

44% of Major Metros See Home Prices Up

Home prices rose in 67 of 151 U.S. metropolitan areas in Q4, said the National Association of Realtors (NAR) on Thursday. Furthermore the association pointed to a “broad stabilization” of values across the country.

The median price for single-family home resales was up from a year earlier in over 44% of the areas included . . . → Read More: 44% of Major Metros See Home Prices Up

Housing Outlook Improves – Local Media Agrees

Sales of previously owned homes rose across the country during the third quarter, according to a report released Tuesday by the National Association of Realtors.

Nationally, sales were up 5.9 percent from the third quarter of last year. Previously owned homes changed hands at a seasonally adjusted annual rate of 5.3 million, according to . . . → Read More: Housing Outlook Improves – Local Media Agrees

New Home Sales Jump; Supply Plummets; Prices Bouncing

New home sales added to our run of good news in the housing market on Monday. Sales jumped 11.0 percent in June to an annual rate of 384,000 and the highest rate this year — well above any economists’ estimates. In fact the month-to-month percentage change was the highest in nearly 9 years. But . . . → Read More: New Home Sales Jump; Supply Plummets; Prices Bouncing

Existing Home Sales Yields Good News Triplet

Tuesday we reviewed a dozen areas where home prices are rising. Wednesday yielded the release of home sales data with three more significant pieces of great news.

1. Sales of previously owned homes rose for the second month in a row in May. The improvement was 2.4% better than the sales rate in April.

. . . → Read More: Existing Home Sales Yields Good News Triplet

Why are Banks Still Foreclosing?

Can anyone think of a more value destroying transaction than foreclosing a home in a dead real estate market. There are more than 700 houses in Detroit listed for less than $3000. And there not selling. In this climate banks can’t possibly expect to recover much of anything from a foreclosed. Considering legal costs, . . . → Read More: Why are Banks Still Foreclosing?