Month: May 2009

Nearly one in four homeowners (24 percent) don’t have any savings to cover expenses such as their monthly mortgage payment should they lose their jobs, according to a survey conducted by Wells Fargo. At the same time, job stability worries increased from 21 percent to 29 percent, with respondents indicating it their number one concern.… Continue reading Nearly a Quarter of Homeowners Have No Savings, Half Have Debt

So-called shadow inventory, which is essentially the stock of homes that would come onto the market assuming things turn around, could keep home prices down a lot longer. Supply is already a concern, given the lack of buyers and the number of homes currently on the market, but if banks and individual homeowners begin unloading… Continue reading Shadow Inventory Could Weigh Down Home Prices

First-time homebuyers accounted for half of all existing-home purchases during the first quarter, according to the National Association of Realtors. And those sales don’t reflect the impact of the homebuyer tax credit, which could boost sales by another 100,000 units or more this year. “Close to 455,000 buyers purchased their first home during the first… Continue reading First Time Homebuyers Accounted for Half of First Quarter Sales

If you’ve been following the housing market over the past year, you’re probably thinking home prices are getting pretty cheap, attractive even. But before you jump in, there’s something worth noting; the median home price you see plummeting is skewed. Nowadays, most of the homes selling are either distressed properties or heavily discounted, while higher-priced… Continue reading Home Prices Haven’t Fallen as Much as You Think