Tag Archives: Home Prices

On Tuesday the Federal Housing Finance Agency reported a slight 0.8 percent rise in home prices from March to April, representing a positive note in a brittle housing market.

May housing numbers are in for the state of California and numbers look grim. The survey, conducted by the California Assoc. of Realtors, credits the struggling economy and stringent lending standards for the decline.

RE/MAX issued a report this week that yields a net gain in month-over-month statistics for home sales and prices in May, aligning with an expected seasonal drive by homebuyers, investors, and foreign buyers to real estate. Adding to a three-month trend on the upside, the company says home prices climbed 3.7 percent between April and May, while closed sales transactions rose 3.2 percent. RE/MAX says activity appears to be coming back in line with the seasonal trends expected this time of year.

The health of the labor market has a far-reaching impact on many areas of housing. When the economy is growing and the number of employed rises, so do home sales and mortgage originations. According to the research firm Hanley Wood Market Intelligence, there's also a definitive link between employment and home prices. The firm's analysts examined metro area job data juxtaposed with price trends for new homes, and their conclusions illustrate that jobs and housing "are joined at the hip."

The Department of Treasury and HUD jointly released the Housing Scorecard for May on Thursday, finding that housing markets remain fragile with a seven-month stretch of declining home prices. The scorecard tracks monthly housing and economic data. The May edition called housing prices weak, noting only a minor boost for sales in April. Other industry reports echo the assessment with mortgage applications still falling, eroding home equity, and weak job growth -- all impacting the mortgage market.