Tag Archives: Home Prices

Home prices rose in July by less than 2 percent for the first time since March but still reached their highest level since August 2008, according to the Case-Shiller Home Price Indices released Tuesday. All 20 cities included in the survey improved both month-to-month and year-to-year. The two surveys have improved both monthly and yearly for 14 consecutive months.

Even as price increases start to lose momentum, the majority of Americans polled by finance site Bankrate.com anticipate more gains over the next year. According to Bankrate, 55 percent of Americans surveyed think prices will go up over the next 12 months, while 27 percent said they expect prices to stay flat. "It seems like Americans' love affair with real estate has returned," said Greg McBride, CFA, senior financial analyst for Bankrate, though he admitted there are still "some clear headwinds."

Home price increases slowed on a monthly basis in July as more markets approach their pre-crash peaks, Lender Processing Services (LPS) reported in its monthly Home Price Index (HPI) report. Nationally, LPS' index was up to $231,000 in July, a 0.6 percent gain over June. Compared to last year, July's index was up 8.7 percent. Meanwhile, several of the largest metros across the United States--including many of Texas' bigger cities--continue to outperform their pre-recession highs.

Despite rising interest rates, owning a home is still significantly cheaper than renting, according to Trulia's Summer 2013 Rent vs. Buy Report.

Home sales and prices both improved year-over-year for the 19th straight month in August, according to multiple listing service (MLS) data from RE/MAX.

As home price appreciation continues at accelerated levels, John Burns Real Estate Consulting is warning clients in certain areas to keep in mind the artificial boosting effect that home flippers bring to the market. "Home price appreciation has been so rampant, particularly in California and Florida, that flippers and get-rich-quick scam artists are flourishing again," said Chris Cagan, VP at John Burns. "Just as in the mania of 2004-06, flippers make money when the party is raging, but inevitably, someone loses when the party is busted."

Second-quarter origination volume (in dollars) increased 9.6 percent over the same time last year as purchase loans started to make meaningful contributions to the housing recovery, Experian reported in its quarterly analysis of real estate trends. According to Experian's report, origination volume climbed to $478 billion, $42 billion more than Q2 last year. What was more notable to Experian, however, was how origination activity was split: As refinance volume tumbled, purchase volume stepped in to make up some of the difference.

Existing-home sales rose an unexpected 6.5 percent to an annual sales rate of 5.48 million, the National Association of Realtors (NAR) reported Thursday. Economists surveyed by Bloomberg expected existing home sales to drop to 5.255 million from July's originally reported July's 5.39 million sales pace which was unchanged in today's report. The increase in sales came as the median price of an existing single family home in August dipped slightly from July, down $300 to $212,100.

The National Association of Home Builders' (NAHB) Housing Market Index (HMI) stalled at 58 in September, unchanged from August's downwardly revised reading, the group reported.

Redfin reported another slip in homebuyer demand in August, with both home tours and offers declining.