The national housing market has hit bottom and is now in full recovery mode, according to Veros Real Estate Solutions, a provider of risk management and valuation services. While there remains--as always--some variance across markets, Veros predicts prices in two-thirds of all markets across the nation will either remain flat or rise over the next 12 months. This is the first time since the recession that Veros has forecast gains (or at least no declines) for such a large proportion of markets.
Read More »Mortgage Rates Stay in Holding Pattern to Kick Off 2013
After going into free-fall for much of 2012, fixed mortgage rates started off 2013 with very slight declines.
Read More »Survey of Economists Finds Rising Optimism for Home Prices
A survey of economists conducted by Pulsenomics and published by Zillow shows high hopes for home prices in 2013 and beyond.
Read More »Zillow: Homes Gain $1.3T in Value in 2012
After five years of cumulative losses, home values will finally post their first annual gain, according to data from Zillow. The calculations show homes are expected to gain $1.3 trillion in cumulative value for 2012, the largest gain since 2005 and the first annual increase since 2006, Zillow reported. The company expects the year-end total to reach $23.7 trillion, which is a 6 percent increase from last year's total. In 2011, the cumulative loss in home values was $792 billion compared to 2010.
Read More »Industry Reps Call for Preservation of Mortgage Interest Tax Deduction
As Washington engages in a standoff over budgetary proposals to avert the fiscal cliff, several industry professionals and associations are calling upon lawmakers to avoid slaughtering what was once thought to be a sacred cow: the mortgage interest tax deduction (MID). While many housing professionals view the deduction as a break for homeowners and an incentive for others to purchase their own homes, critics call the MID a "subsidization of the real estate industry."
Read More »Zillow: Home Values Inch Up in November
On a monthly basis, home values inched up by 0.6 percent to $156,200 in November, according to Zillow's Home Value Index. Compared to November 2011, home values have increased by 5.2 percent, which is the biggest yearly gain since August 2006. Twenty-six of the 30 largest metros tracked by Zillow registered yearly gains. Not surprisingly, Phoenix led with a 23.2 percent increase. The metro was followed by San Jose (+13.4 percent), San Francisco (+12.1 percent), Las Vegas (+11 percent), and Denver (+10.8 percent).
Read More »Freddie Mac Forecasts Future of Housing Growth
Add Freddie Mac to the list of companies forecasting great things in the 2013 housing market.
Read More »New York Fed Unveils Tool to Track Recovery in Tri-State Area
The Federal Reserve Bank of New York announced the launch of a tool designed to provide data on the housing recovery in the region.
Read More »Capital Economics: Recovery is ‘The Real Deal’
The ongoing housing recovery will remain sustainable for the foreseeable future, analysts for Capital Economics say.
Read More »NAHB: Home Affordability Increases in Q3
The NAHB revealed 74.1 percent of all homes sold in Q3 were affordable to families earning the U.S. median income.
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