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Tag Archives: Home Values

Interest Rates Set Back Consumers’ Buying Plans

According to a report released by Thomson Reuters and the University of Michigan, consumer sentiment retreated last month to an index reading of 80.0, down 2 percent from February’s 81.6. The most immediate concern, according to the survey, is the ongoing slowdown in home value gains. Given the stall in price improvements and the increase in interest rates over the last year, plans to purchase homes are reportedly on the decline.

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Housing Barometer: Recovery ‘Staggering’ Forward; Headwinds Persist

Recovery in the housing market is stumbling back to solid ground, thanks to a rise in home prices and existing home sales, as well as a drop in foreclosures, according to the latest Housing Barometer report released Wednesday by Trulia. However, growth in these sectors is dragging disproportionally weaker growth in young adult employment and stagnation in the new home construction sector in its wake.

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Underwater Rate Falls Below 20%; Declines Expected to Slow

For the first time in years, the national negative equity rate dipped below 20 percent to close out 2013, Zillow revealed Friday in its quarterly Negative Equity Report. According to the company’s stats, negative equity declined to 19.4 percent nationally as of the end of last quarter, bringing the underwater rate down more than 8 percentage points over the course of 2013.

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Experts Predict Diminished Investor Activity, 4.5% Appreciation in 2014

A majority of experts surveyed by Zillow and Pulsenomics expect large-scale investors will pull out of the housing market in the next few years--and that hopefully means a smoother field for consumer buyers. While their withdrawal will most certainly affect today's still-fragile market--79 percent of those surveyed said the impact would be ""significant or somewhat significant""--Zillow chief economist Dr. Stan Humphries says it wouldn't be the worst thing to happen to housing.

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Consumer Sentiment Index Dips in January

The Surveys of Consumers' Index of Consumer Sentiment, released jointly by Thomson Reuters and the University of Michigan's Survey Research Center, dropped to 81.2 this month from December's 82.5. The monthly decline stands in contrast to the Conference Board's Consumer Confidence Index, which rose for the second straight month in the group's most recent report. The measure of sentiment about current conditions fell slightly to 96.8, while the expectations index was down to 71.2.

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Nearly Three-Quarters of Homeowners Thinking of Selling in 2014

LendingTree released recently the results of an online survey conducted near the end of the last year. According to the findings, more than two-thirds--69 percent--of respondents have a positive outlook on housing this year, and 63 percent hold a similar view for the economy at large. With hopes this high, 71 percent of respondents said they are considering selling their home in 2014. Out of that group, the majority said they would have to see their home's value increase before acting.

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Study: Housing Hardships Greater for Black, Hispanic Communities

Despite efforts to bring greater equality to the housing market, research conducted by Zillow suggests black and Hispanic homebuyers still face greater difficulties related to homeownership than whites. The study found blacks and Hispanics were more likely to apply for a mortgage insured by the Federal Housing Administration (FHA) than a conventional loan, and out of those that did go for a conventional mortgage, black and Hispanic applicants were far more likely to be denied.

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Home Price Growth Accelerates Despite Downward Pressure

Despite experiencing greater downward pressures from distressed sales and declining housing activity, home prices rose in November at their fastest monthly pace since summer, according to data from FNC, Inc.'s Residential Price Index (RPI) for the month. FNC's national composite index, constructed using sales data on non-distressed properties, rose 0.5 percent in November, perking up from October's meager 0.3 percent gain. The two narrower 10- and 30-city composites also ticked up, rising 0.6 percent and 0.7 percent, respectively.

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More Homes Bounce Back from ‘Deeply Underwater’ Status

Underwater

According to RealtyTrac's latest data, approximately 9.3 million residential properties in December had a combined loan amount at least 25 percent higher than their market value. The figure represents about 19 percent of all properties with a mortgage. That number was down from 10.7 million deeply underwater homes (about 23 percent of all properties) in September and 10.9 million (26 percent) at the beginning of 2013. Meanwhile, the number of "equity-rich properties" grew to 9.1 million.

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