Like other areas of the country, Minneapolis/St. Paul has been experiencing a downturn in what had been a hot five-year hyper-real estate market. While 2007 doesn’t promise a significant recovery, it does appear to place the Twin Cities back on track with a slight uptick in home sales and prices. Nothing to pop […]
Consumer confidence is on the rise and the housing market is reaping the benefits. The NAR reported that sales of existing homes inched upward 0.6% in November to a seasonally adjusted annual rate of 6.28 million units. This follows a 0.5% rise in sales in October.
This is good news because […]
Has the influx of luxury condo projects saturated the Phoenix market? That is the opinion shared by many market watchers. More than 30 projects are either finished or under construction in the Valley. More than 20 of those projects, mainly in Phoenix and Scottsdale, feature units costing $1 million or more.
Like […]
BusinessWeek.com and MSN’s article, “How bad will the 2007 housing market be?” takes a look at the year ahead for real estate. BusinessWeek polled economists at leading real estate research firms to find out their thoughts on 2007. In a nutshell, the consensus is:
Home prices will continue to fall in some markets, and […]
The median home price in Indianapolis is an affordable $120,000. That is down 3.7% from a year ago. For that amount, you can find a nice single-story 3 bedroom, 2 bath home. Unfortunately, no matter how affordable the housing may be, it hasn’t been able to help the home sales volume in […]
Prices may have peaked for high-end luxury homes in Los Angeles, but demand for mid- and low-price homes remains strong. True, if you were to compare sales volume over just the last year, Los Angeles is down 24.6%. Yet with the median home price in Los Angeles climbing to over $583,000, the […]
As interest rates fell to the lowest they’ve been in a year, lenders saw a surge in mortgage applications as home owners rushed to refinance their mortgages. The Mortgage Bankers Association reported that refinancing and home-purchase loans rose 8.1% last week over the previous week.
Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged […]
In a series of recent interviews with Real Estate Journal.com, Toll Brothers founder, Robert Toll, shared his views on why retirees and young people like cities, why Hurricane Katrina helped spark the nation’s housing slump and when the market will rebound.
Among the highlights:
Today’s Baby-Boomers are more “hip-hop and happening than our parents”. They don’t […]
While it may not break any records, Atlanta’s real estate market may not fair as badly as some other parts of the country. Data collected by Moody’s Economy.com suggests that existing single-family homes in 13 metro-Atlanta counties—Bartow, Cherokee, Clayton, Cobb, Coweta, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Henry and Rockdale—will experience an average 22.6 […]
The real estate market may be set to improve in 2007 from its recent downward trend, but it may not be soon enough for many homeowners struggling with their mortgages. In the third quarter, late payments and foreclosures rose, with the largest impact being felt in the adjustable subprime arena.
According to the quarterly National […]