• Ocwen20.81+1.18 +6.01%
  • Zillow105.52-1.66 -1.55%
  • Trulia44.56-0.90 -1.98%
  • NationStar34.350.00 0.00%
  • CoreLogic30.44-0.29 -0.94%
  • RE/MAX31.95+0.20 +0.63%
  • Fannie Mae2.22-0.13 -5.53%
  • Freddie Mac2.17-0.12 -5.24%
  • Wells Fargo52.17+0.39 +0.75%
  • CitiMortgage52.64+0.21 +0.40%
  • Bank of America16.99+0.19 +1.13%
  • Lennar43.42-0.50 -1.14%
  • Fidelity National Financial29.37+0.01 +0.03%
  • D.R. Horton22.92-0.30 -1.29%
  • PulteGroup19.20-0.15 -0.78%
  • First American30.08+0.14 +0.47%
  • AUDUSD=X0.8804N/A N/A
  • USDJPY=X108.955N/A N/A
  • WP Stock Ticker
To show sotck chart
Home >> News >> Data >> Asking Prices Increase, Discounts on the Decline
Print This Post Print This Post

Asking Prices Increase, Discounts on the Decline

Asking Prices Increase, Discounts on the Decline

Asking prices on homes improved on a yearly basis for the seventh straight month in November, according to the latest ""report"":http://www.fncrpi.com/ViewFile.aspx?ref=pr_58 (RPI) from ""FNC, Inc."":http://www.fncinc.com/

[IMAGE]

The median home asking price in November was $190,000, mostly flat from October. However, that figure stands 6.1 percent above its year-ago level. November's year-over-year increase was the fourth largest one this year and the biggest gain since July (which saw a 10.6 percent bump in prices compared to a year ago).

[COLUMN_BREAK]

As of November, prices are up 8.6 percent year-to-date.

The report also shows a steady improvement in liquidity conditions throughout 2012--meaning the gap between asking prices and selling prices is closing, even as prices rise. The average home sale in October closed at 6.6 percent below the asking price, a year-over-year improvement from 9.7 percent. The last time asking price discounts were so low was in August 2007, according to FNC.

What's more, median annualized home appreciation at re-sale (a measure of appreciation during the holding period) continues to hold near zero--that is, breaking even--and is trending toward positive growth for the first time since 2008. So far, the 2012 average for holding-period price appreciation is -0.7 percent, the highest it's been in four years.

The median time on market for a home sold in October was 147 days, unchanged on both a monthly and yearly basis. However, the first eight months of 2012 all showed declines in days on market, meaning sales pace is picking up.

About

Tory Barringer
Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Scroll To Top