Latest Posts
New Home Sales Slip Lower in May
You know it’s bad news when the home builders are pessimistic… Sales of newly built, single-family homes declined less a percent to a seasonally adjusted 342,000 units last month, but were off more than 30 percent from a year ago, ... Read More »
More Expensive Homes May Not Bottom Until 2012
Having a super expensive home is generally viewed as a good thing, but the priciest homes in the nation may also take the longest time to recover. A pair of JPMorgan Chase analysts told Bloomberg they believe homes priced over ... Read More »
New York Home Prices Predicted to Fall Another 40 Percent
New York metro area home prices are expected to fall another 40.6 percent from the first quarter of 2009, according to Deutsche Bank. It’s actually an improvement from an earlier prediction, when home prices were slated to fall 47.4 percent, ... Read More »
Housing Outlook Negative
The housing outlook, which seemed to be on the up and up thanks to record low interest rates and a more promising homebuyer tax credit, took a step backwards in the latest home builder survey. “The outlook for home sales ... Read More »
U.S. Home Prices Slashed by $27.4 Billion
Nearly one in four homes currently listed for sale in the United States have had their listing price slashed, totaling a whopping $27.4 billion in reductions, according to Trulia. On average, listed homes have seen price reductions of 10.6 percent, ... Read More »
New Home Inventory Lowest Since 2001
Here’s a sliver of good news, though it needs to be taken with a big grain of salt, or perhaps some sawdust. New home inventory slipped to its lowest point since May 2001, according to government figures highlighted by the ... Read More »
Nearly a Quarter of Homeowners Have No Savings, Half Have Debt
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 ... Read More »
Shadow Inventory Could Weigh Down Home Prices
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 ... Read More »
First Time Homebuyers Accounted for Half of First Quarter Sales
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 ... Read More »
Home Prices Haven’t Fallen as Much as You Think
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. ... Read More »