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Tag Archives: Home Values

NAR: End of 2012 Sees Gains in Prices, Sales, Affordability

According to the NAR, the depleting share of lower-priced homes is contributing to price growth as distressed sales--foreclosures and short sales--diminish. The association found the national median price for an existing single-family home rose to $178,900 in Q4, up 10 percent from the fourth quarter of 2011. The increase marks the biggest year-over-year gain since the fourth quarter of 2005, when the median price was up 13.6 percent. Existing-home sales improved as well in Q4, rising to a seasonally adjusted annual rate of 4.90 million.

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Capital Economics: Household Wealth to Boost GDP in 2013

Capital Economics forecasts the S&P 500 equity price index will end 2013 close to the current level of 1,500 and expects home prices to rise in the neighborhood of 5 percent. In turn, the growth in household wealth, the firms says, could lift GDP by around 0.7 percent. The most recent Flow of Funds report for Q3 2012 showed net household wealth grew to about $64.7 trillion. Capital Economics says the Q4 report, due March 7, is likely to show an increase of household wealth to around $65.1 trillion.

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Trulia: Asking Prices Post Major Gains, Rent Prices Cool in January

Asking prices rose dramatically in January as renting prices cooled off somewhat, according to the latest data in Trulia's Price and Rent monitors. The company's Price Monitor showed a 0.3 percent quarter-over-quarter rise in January (without seasonal adjustment). On a seasonally adjusted basis, prices increased 2.2 percent quarterly. While January's numbers signal a strong price recovery, Trulia's chief economist warned the month's gains could disappear in some areas.

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Capital Economics: Price Gain Forecasts Under 5% ‘Conservative’

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Realtors in December expected prices to rise by about 3.5 percent over the next year, while consumer estimates were more modest at 2.5 percent for the same time period, Capital Economics noted in its monthly housing report. The estimates show a growing optimism among those groups. But, with the low supply of inventory, Capital Economics anticipates much bigger gains.

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Survey: Homeownership Important to 96% of Americans

Younger generations continue to hold a more favorable view of homeownership than their elders, according to Prudential Real Estate's end-of-year Outlook Survey. The report shows homeownership remains important to 96 percent of Americans, with 77 percent of respondents ages 25-34 and 78 percent ages 35-44 agreeing it is "very important." Those percentages fall off somewhat for older generations: 73 percent for the 45-54 crowd and 72 percent for those ages 55-64.

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Homeownership Rate Remains Down in Q4

The number of households owning homes rose to 75,209,000 in the fourth quarter, up from 75,076,000 in the third but down from 75,315,000 a year ago, the Census Bureau reported Tuesday. At the same time, the nation's homeownership rate (seasonally adjusted) dipped to 65.4 percent in the fourth quarter from 65.5 percent in the third quarter. The stagnant homeownership rate combined with a decline in the number of units held off the market suggests opportunities for home sales.

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Case-Shiller Price Indices See Big Yearly Gains in November

Despite seeing a month-over-month drop, the 10- and 20-city Case-Shiller Home Price Indices registered their strongest year-over-year improvement in two and a half years, Standard & Poor's reported Tuesday. On an annual basis, the 10-city index was up 4.5 percent, and the 20-city index rose 5.5 percent. It was the strongest yearly gain in the 10-city index since June 2010 and in the 20-city index since May 2010. Year-over-year, prices were up in 19 of the 20 cities surveyed.

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