Tag Archives: Lender Processing Services

Home prices ticked down on average by 0.8 percent in October, reaching $200,000 and marking the fifth straight month for declines for industry figures, according to Lender Processing Services. In releasing the national home price index, the analytics provider also said that November may have fielded about 0.5 percent in home prices declines. The new numbers for home prices follow ongoing declines from 2006, at which time U.S. housing inventory amounted to $10.6 trillion ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô and since fell to $7.5 trillion.

New single-family home sales climbed to a seasonally adjusted annual 307,000 over October, 8.9 percent more than those figures estimated over the same time last year. The Commerce Department yielded the data Monday from new residential sales, which it collected and released via the Census Bureau and HUD. Sales for single-family homes meanwhile crawled above revised September rates of 303,000 by 1.3 percent. Data showed that median sales prices for new homes sold over October this year hovered at about $212,300.

Even with a pickup in the general economy, overall growth will remain flat into the New Year, slowing any impact from the housing market and delaying significant changes, according to a think tank internal to Fannie Mae. The mortgage company described circumstances going forward as those vulnerable to weak jobs growth, external shocks from the euro zone, and pickups or drops in consumer spending and confidence. Troubled euro zone markets continued to weigh down on the forecast.

Closely following figures from a market peak in 2006, home prices across the country trailed south by 3.8 percent year-over-year in August, according to a recent home price index. Lender Processing Services reported findings from a home price index that connected the dots from 13,500 ZIP codes, which it gauged on five qualitative levels. LPS valued total U.S. housing inventory at $10.6 trillion at the peak of the crisis ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô a number that now stands at $7.65 trillion by the end of August this year. The price declines follow similar data reported by CoreLogic in September.