Tag Archives: Recovery

Taking data from its monthly home price tracker, Black Knight Financial Services found in its latest report that while high-value properties in the country's hardest-hit states have made solid strides in recovering to their pre-crisis peaks, low-value homes are still struggling to make progress.

In a speech Thursday morning in Phoenix, President Barack Obama spoke of the progress the housing market has made since 2009 and measures his administration is taking to help everyone achieve homeownership.

In a quarterly survey of more than 100 real estate experts and economists, real estate data firm Zillow found 40 percent of respondents believe it will take another three to five years for the housing market to normalize, based on current home price trends and homebuyer activity.

While at a national level the housing market continues to recover, a look at local markets reveals a recovery that is most prominent in high-income areas, while lower-income neighborhoods continue to struggle. ProTeck Valuation Services delves into this phenomenon in its latest Home Value Forecast, with a spotlight on the Seattle metro area.

RealtyTrac's election housing scorecard rated 1,547 county housing markets in the U.S. based on five factors that affect the health of housing. A total of 811 U.S. county housing markets (52 percent) were rated as "better off" than they were two years ago, compared to only 11 percent (176 markets) categorized as "worse off."

According to the latest Trulia Housing Barometer, while home prices, sales, and delinquency rates are all most of the way back to normal, new construction starts and a poor employment rate among young adults are snagging full economic recovery. However, all five indicators have improved year-over-year, if slightly in some areas.

Speaking at a conference in Sweden Monday morning, Stanley Fischer, vice chairman of the Fed and former governor of the Bank of Israel, admitted that the global recovery from the recession has been disappointing at best, noting that economic growth among the world's most advanced economies has underperformed compared to previous post-recessionary periods.

The California housing market continued on its 2014 trend line in June, picking up from a month prior but remaining subdued compared to last year's more active market. According to real estate data site DataQuick, an estimated 39,254 new and resale homes and condos sold statewide throughout California last month, reflecting a 4.0 percent increase from 37,734 in May.

Redfin released its latest market summary, which sees the combination of sales, prices, foot traffic, and inventory as positive signs heading into the fall. "After an abysmal first quarter that drove a disappointing first half, housing will be playing catch-up for the year," said Nela Richardson, Redfin's chief economist. "Though it won't be a seamless transition, we believe the housing market is positioning itself for a stronger finish in the second half of the year."

According to Realtor.com, the median listing price of homes in May this year was $214,900, a rise of 8 percent compared to year-ago levels. "This May's housing market stands in significant contrast to last year in which price increases were less generalized and more concentrated in specific metropolitan areas," the company said. "This broad increase in price suggests a more evenly distributed recovery and a healthier national housing market."