Tag Archives: Home Prices

According to Fannie Mae, the fundamentals are set in place for a solid housing recovery. The GSE revised its housing forecast for this year and the next to reflect changes made in the housing market, including low interest rates, rising prices, and a healing labor market. Analysts for the company also note that there is an upside risk to their forecast, as "pent-up demand amid stronger household formation may result in stronger housing activity next year" than what's expected.

In October, home prices and sales increased compared to 2011 levels, while inventory remained a concern, RE/MAX revealed in a recent report. The median sales price in October 2012 stood at $158,900, a 3.7 percent decrease from September but a 2.1 percent increase from October 2011. Meanwhile, home sales posted "an impressive performance" in October, increasing both yearly and monthly despite the fact that seasonal patterns usually see a slight drop around that time.

According to Redfin's Real-Time Home Price Tracker for October 2012, home sales increased 9.8 percent across 19 major U.S. markets from September to October, an unusual gain in a month that commonly sees monthly declines of at least 5 percent. Prices also increased in October, though on a more modest scale. The tracker reported price increases of 8.4 percent year-over-year and 0.4 percent month-to-month. Seventeen of the 19 cities covered in the report saw higher prices than in 2011.

Weathering Hurricane Sandy, sales of existing homes increased in October, the National Association of Realtors reported Monday. Total existing-home sales rose 2.1 percent to a seasonally adjusted annual rate of 4.79 million in October from a downwardly revised 4.69 million in September. September sales were originally reported at 4.75 million. October home sales are up 10.9 percent over October 2011. The median price of an existing single-family home was $178,600 in October, 11.1 percent ahead of the median price in October 2011, $160,300.

Despite a relatively flat September, FNC's latest Residential Price Index (RPI) showed home prices were up in the third quarter. Based on recorded sales of non-distressed properties (both new and existing homes) in the 100 largest metropolitan statistical areas (MSAs), September home prices were mostly unchanged from August. However, prices were up 2.3 percent from September 2011, the largest yearly increased since February 2007. September also marked the third straight month of year-over-year price improvement.

The NAHB revealed 74.1 percent of all homes sold in Q3 were affordable to families earning the U.S. median income.

The National Association of Realtors (NAR) offered market projections into 2014 during a forum at the 2012 Realtors Conference and Expo.

The state of the housing market continues to improve though recovery remains fragile, according to the October Housing Scorecard released Friday by the Obama administration. Along with the scorecard, the administration released special instructions for those administering the Making Home Affordable Program in areas affected by Hurricane Sandy. In areas directly impacted by Hurricane Sandy, servicers must offer at least three months forbearance to any homeowners eligible for Making Home Affordable who request forbearance.

A lower supply of inventory and fewer distressed sales led to stronger home price gains across the country, the National Association of Realtors (NAR) revealed in a recent report. On a national level, the median price for existing single-family homes increased 7.6 percent to $186,100 in the third quarter of this year compared to last year, the strongest annual gain since first-quarter 2006. The median price for existing homes improved in 120 out of 149 areas since last year.

Now that Obama has won a second term, his administration is charged with leading phase two of the housing recovery.