By Ryan Jackson Higher home prices being paid in some U.S. cities could lead to troublesome isolated bubbles, according to new research. Strong demand for homes in three of the nation’s hardest hit states are pushing up housing prices more quickly than might be sustainable. Driven by record low mortgage rates, sales are improving at… Continue reading Higher Prices May Produce Trouble Bubble
Category: Arizona
arizona housing market
Summer Home Sales Decline
By Ryan Jackson Despite record low mortgage rates and the lowest home prices in years, existing home sales disappointingly fell for the second straight month in June as consumers remain skittish about the U.S. economy to a seasonally adjusted rate of 4.37 million units. The usually busy summer selling season has gotten off to a… Continue reading Summer Home Sales Decline
Home Prices Climb at 25 Year Clip
By Ryan Jackson Home prices increased at the fastest rate in 25 years during the spring selling season, according to real estate research firm CoreLogic. U.S. housing prices jumped an average of 1.4% during the month of June alone, the company said. The most substantial improvement in home prices has developed over the last three… Continue reading Home Prices Climb at 25 Year Clip
Home Prices Rise 3 Straight Months
By Mike Colpitts Home prices rose for the third straight month in May across the U.S., according to real estate analytics company CoreLogic. On a year over year basis the firm said average prices rose 2.0%, and also increased 1.8% compared to a month earlier. The firm’s Housing Price Index, which tracks 100 of the… Continue reading Home Prices Rise 3 Straight Months
Hardest Hit States Foreclosures Slow
By Ryan Jackson Three of hardest hit states in the U.S. housing downturn have seen foreclosures drop by more than 25% providing a major sign of improvement for the nation’s housing market. Formal foreclosures in Nevada, Arizona and Michigan have been reduced at the highest level since the housing crisis started more than five years… Continue reading Hardest Hit States Foreclosures Slow
Foreclosures Jump Resumes After Robo-Signing Slowdown
By Mike Colpitts Foreclosure starts rose for the first time in more than two years in May, signaling a resumption of formal bank repossessions of homes with mortgages in default after months of slower foreclosures. Initial filings were lodged against 205,990 U.S. residential properties, according to RealtyTrac. The increase accounted for a 9% hike in… Continue reading Foreclosures Jump Resumes After Robo-Signing Slowdown
Shadow Inventory Declines, But Still Looms
By Mike Colpitts The shadow inventory or the number of homes that lurk uncounted by banks and other mortgage lenders in the abyss of the troubled housing market is shrinking as banks offer more troubled homeowners, including landlords short sales for the first time since the U.S. housing crisis started. Estimates of the shadow inventory,… Continue reading Shadow Inventory Declines, But Still Looms
No Confidence in US Government to Aid Housing Market
Respondents to an online poll have given the U.S. government a no confidence vote when it comes to helping the housing market. An over-whelming majority of 84% who were surveyed said the government will not take major steps to help the housing market. The sweeping decision comes five years and more than 7 million foreclosures… Continue reading No Confidence in US Government to Aid Housing Market
States Rip Off Foreclosure Victims
By Mike Colpitts Almost $1-billion targeted to victims of banking foreclosure fraud is being ripped off from foreclosure victims to be used to pay for other programs for states facing serious financial deficits. The nation’s largest five banks agreed to pay a $25 billion settlement as part of their agreement to settle allegations of illegal… Continue reading States Rip Off Foreclosure Victims
2013 Arizona Housing Market
Arizona’s real estate market took a major hit after the housing bubble burst in 2007. From that year until 2012, Arizona home prices fell 49.0 percent. In fact, with the exception of Nevada, the state may have suffered the most during the recent economic recession. According to RealtyTrac, the state continues to suffer the second-highest… Continue reading 2013 Arizona Housing Market