In February, sales and prices of existing homes continued their slide in the Denver area. Inclemental weather and a high foreclosure rate were cited as the primary reasons. Independent real estate analyst Gary Bauer stated the number of homes sold last month dropped to 3,090, compared with 3,540 in January. The median price for a [...]
How often have you read or heard reports on the state of the market and housing prices that have left you wandering what’s going on? Case and point. The National Association of Realtors reported that the median price of an existing home nationwide fell by 3.1 % in 2006. The Office of Federal Housing Enterprise [...]
The Mortgage Banks Association reported this week that the rate of homes entering the foreclosure process hit a record 0.54% and the delinquency rate on U.S. home loans jumped to 4.95% from 4.67% three months earlier. Delinquency rates for prime adjustable-rate mortgages rose to a seasonally adjusted 3.39% from 3.06%, while subprime ARMs increased to [...]
While home prices in the Metropolitan Phoenix have dropped in the past year, economists do not expect a freefall of Arizona’s housing prices. Those are the findings published in the February issue of the Arizona Blue Chip Economic Forecast and reported by the Arizona Republic. Overall, Arizona housing prices were being kept stable by cities [...]
According to a recent Bloomberg article, Brooklyn apartment and townhouse prices jumped 16% in 2006 to a median of $570,000. Broolyn Heights, which is now considered as hot, if not hotter than Manhattan, became one of the most expensive neighborhoods. The median price for one-, two- and three-family apartments and townhouses rose 21% to $3 [...]
Florida’s real estate market has some local experts groaning. Of the 20 metro markets tracked by the Florida Realtors Association, 14 showed a year-over-year decline in the median price of single-family homes and a decline in existing home sales. Notable mentions include: Sarasota: 20% decline Jacksonville Metro: 17% decline Pensacola: 12% decline Daytona and Brevard: [...]
The real estate market in Raleigh North Carolina has something to celebrate. Home sales continue to show solid growth. Raleigh has seen a 5 to 10% increase from 2006 which is very good in comparison to other areas of the country that are experiencing a significant slow down in home sales such as Las Vegas, [...]
Just three years ago, Utah held the distinct dubious honor of having the worst home price appreciation in the nation. Now, it has something to crow about — it is considered the best in home appreciation in the U.S. The Office of Federal Housing Enterprise Oversight reported that home prices in Utah rose 17.6% from [...]
A recent Forbes article listed the top performing metro areas for real estate as it relates to median home price and change in median home price from 2005 to 2006. The top 10 best performing metros are as follows: Location/Median Home Price/Change in Median Home Price (2005-2006) Seattle-Tacoma-Bellvue, WA: $372,400/14.6% El Paso, TX: $129,900/14.3% Houston-Baytown-Sugar [...]
The Massachusetts Association of Realtors confirmed that the volume of monthly single-family home sales rose 12.6% in January. That makes the first year-to-year increase since March 2006. The MAR also reported that the median sales price for a single family home in January was $340,000, down 2.4% from $348,500 a year ago. For condos, sales [...]