Tag Archives: Home Prices

According to RealtyTrac, the median price of single-family homes and condos rose 2 percent to $193,000 nationwide in October. This is their highest level since the beginning of the recession in September 2008. That's also a rise of 16 percent from a year ago, though it's still 19 percent below the median peak of $237,537 that occurred in August 2006.

Redfin reported a 2.2 percent increase in the number of homes sold in October compared to the same month last year, making it the first month to see a significant yearly increase in home sales so far in 2014. Redfin's data reinforces recent findings from the National Association of Realtors, which estimated October home sales at an adjusted annual rate of 5.26 million, an increase of 2.5 percent from last year.

The S&P/Case-Shiller Home Price Indices grew 4.8 percent annually at the national level in September, according to the latest update from S&P Dow Jones Indices. September's growth rate compares to a gain of 5.1 percent in August.

Based on transaction data throughout the month, Black Knight Financial Services' Home Price Index (HPI) recorded a 0.01 percent month-over-month decline, keeping it nearly flat at $241,000. The drop follows meager increases of 0.2 percent and 0.1 percent in July and August, respectively.

Total existing-home sales in October, including single-family houses, townhomes, condominiums, and co-ops, came in at a seasonally adjusted annual rate of 5.26 million, up 1.5 percent from an upwardly revised estimate of 5.18 million in September, according to transaction data from the National Association of Realtors (NAR).

Looking at economic and housing market indicators in the second quarter, Arch Mortgage Insurance Company (Arch MI) says the odds of a decline in home prices in the next two years on the national level are 13 percent, down from 15 percent in the company's summer estimate.

In Freddie Mac's latest Economic and Housing Market Outlook for the United States, the company's economists turn their attention away from 2014—a mixed year for housing, especially compared to 2013—and toward 2015, which they say will see continued strengthening in the market for home purchase mortgages as the economy improves on a broad basis.

RE/MAX's latest National Housing Report, which follows changes in home sales, prices, and inventory in 53 metro areas across the United States, shows October transactions came in 2.6 percent higher than a year ago. The annual increase came despite a 0.8 percent drop from September's sales total.

Deloitte's Consumer Spending Index, a gauge of cash flow as a measure of future spending, came in at 4.1 in the firm's October reading, down from 4.4 in September. The biggest contribution to October's decline was new home prices, which fell 9.8 percent month-over-month to a median $109,000.

FNC's Residential Price Index dropped 0.3 percent in September, despite strong home sales and continued improvement in the labor market. It was the first time in 30 months that values did not rise, though home prices in the third quarter overall were up 1.8 percent over the second quarter.