RealtyTrac announced that national foreclosures increased less than 2% from April to May 2006, but are up 28% from May 2005. That translates to one filing for every 1,247 U.S. households during the month.
Colorado, Georgia and Texas had the three highest foreclosure rates in May. Florida had the eighth highest rate, […]
The Warren Group has reported that the sale of single-family homes in Massachusetts fell 5.1% in May, and the median price of a home declined from $344,700 to $331,000. Condo sales dropped by an even more dramatic 7.8 percent. Additionally, foreclosures are up 40% from last year.
A recent housing report from the California Association brought some good news to area realtors. For the first time in five years, home prices increased only 8 percent statewide from May 2005 to May 2006. The home price increase is being viewed as a lot more reasonable and sustainable then the double-digit […]
Go West Young Man! For the past few decades, Americans have been moving West and South. The trend appears to be continuing. The U.S. Census Bureau has released its most recent population estimates. All but three of the 50 fastest-growing cities from 2004 to 2005 were in the West and […]
A recent article in the Philadelphia Inquirer noted that median home-sale prices posted double-digit gains last year in a eight-county region of Pennsylvania. Additionally, in 2005, the region-wide median price climbed 16 percent, to $206,000. The 2004 median, $177,500, had represented a 15 percent increase over the previous year.
Philadelphia’s 2005 median sale […]
For those who may be unfamiliar with the concept of Absorption Rate Analysis, here’s a review.
It is a tool that looks at how many homes are absorbed by the market on a monthly basis and how that affects a house listing in terms of how long it may take to sell the home […]
Yet another negative consequence of Hurricane Katrina has been the mass cancellation of thousands of homeowner policies. Allstate has begun canceling the homeowner policies of some 300,000 people in the coastal counties of New York and they are not alone. Other major insurers such as Nationwide Mutual Insurance Co. is no longer writing […]
In May, the number of homes sold in the nine-county Bay Area region fell nearly 20 percent compared to the same month a year earlier. The median price of a resale house rose to $671,000 last month, up 1 percent from April’s figure of $664,000, and up 6.5 percent from May 2005.
However, […]
While construction of new homes and apartments increased in May for the first time after three months of decline, don’t break out into a celebratory dance just yet. New single-family homes construction was up 2.1 percent and multi-family units was up 19.7 percent in May.
The growth/decline in construction activity breaksdown regionally as follows: […]
The Consumer Federation of America believes that many traditional real estate brokers and their associations are operating as a “cartel” to stifle competition and set prices. According to one of their recent reports, it’s all done to protect the 6 to 7 percent commissions traditional brokers earn.
“The preoccupation of many traditional brokers with […]