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| Articles about Housing Market |
| Analysts say US housing market recovery not until 2009 | | 2008-08-17 10:22:00 | | WASHINGTON- As the US economy appears more than ever linked to the health of the housing market, analysts see no end to falling prices or recovery in the sector before 2009.After several years of a sizzling boom, housing prices in the United States have fallen for the past year and a half, according to the closely watched S&P/Case-Shiller index.In May, prices fell a record 16 percent from a year ago.But for the majority of analysts, the price decline still is not enough to put the sector on the road to recovery."Home prices in the US are likely to start to stabilize or touch bottom sometime in the first half of 2009," former Federal Reserve chairman Alan Greenspan said Thursday.But "prices could continue to drift lower through 2009 and beyond," he added.Treasury Secretary Henry Paulson regularly repeats that the real-estate sector presently is the biggest danger for the US economy.Paulson in late July warned that foreclosures and the number of existing homes for sale "are likely to rem... | | By: How to be Rich, Happy and Free from Scams | | |
| | The Housing Market | | 2008-07-29 11:44:54 | | There is no argument that the housing market is depressed at the moment. UK house prices are dropping, but in the US the problem is even more pronounced. If you are trying to sell a house at the moment, you will have to both offer it at a reasonable price and make sure that the décor is right. Although house prices are not yet plummeting in the UK, it is becoming harder to get a mortgage, and there are less buyers meaning that it takes longer to sell.As far as décor goes, there are two areas in the house that must be right, the kitchen and the bathroom, this means having the right fittings, or kitchen faucets if you are in the US.The look must be clean and fresh if you want to create the right impression to sell your house. Keep everything neutral and classy and although you may not get top dollar, you will sell your property faster than the next person…
... | | By: Munny4Hunny | | |
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| Housing Market Brings More Underwater Mortgages | | 2008-06-24 00:00:00 | | A record level of foreclosures is sweeping across America as the downward spiral in the real estate housing market continues. As prices fall more and more homeowners are finding themselves underwater. That is they owe more on the mortgages then the properties will bring if sold. This downward spiral feeds on itself as foreclosed [...]... | | By: Resources Zone | | |
| | Canada’s housing market definitely slowing | | 2008-05-20 14:23:00 | | There is now convincing evidence that Canada’s housing market has come off the boil, Bank of Nova Scotia economists say.Home resales have fallen for four consecutive months, and the inflation-adjusted average resale home price registered its first quarterly decline in seven years during the first three months of this year, Scotia Economics noted in a report last week.“Cracks are appearing on the new home front as well,” the bank said, as demand for new residential building permits has fallen sharply and price increases are moderating as inventories of unsold homes trend higher.
... | | By: Canada Real Estate News | | |
| | The experts views on mortgages and the housing market | | 2008-04-24 18:42:00 | | The average asking price for a home in the UK is now £239,521, just 1.3 per cent higher than a year ago, according to Rightmove, the property website.Rightmove says that asking prices have dropped 0.1 per cent in the past month, a sharp contrast to average increases of 2.8 per cent recorded each April since 2002. House prices across the Bidwells region - Cambridgeshire, Northamptonshire, Suffolk, Norfolk and North Essex - fell 3.8 per cent on average.
... | | By: London real estate news | | |
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| Canada's housing market remains stable | | 2008-04-04 16:21:00 | | Canada's real estate market stands on stable footing. On average, healthy year-over-year house price gains were recorded during the first three months of 2008. While more modest price increases were observed when compared to previous quarters, the solid appreciations noted in the first quarter are largely due to the shared effects of resilient local economies, high immigration levels, and relatively low interest rates - all leading to enduring buyer demand, according to a House Price Survey report released today by Royal LePage Real Estate Services.While almost all markets surveyed experienced price increases, it was the smaller cities, with relatively affordable housing and strong economies based on resource industries that emerged with the most significant gains. Thriving Saskatoon saw appreciation as high as 66 per cent, while areas in Newfoundland posted increases above 20 per cent for the first time since Royal LePage started tracking house prices.
... | | By: Canada Real Estate News | | |
| | Shanghai housing market to stay weak | | 2008-03-19 14:57:00 | | BEIJING, March 19 -- A seemingly unyielding "wait-and-see" approach among potential home buyers might depress the local housing market for a bit longer, industry insiders said yesterday."The market is still rather weak, and it might not be able to regain its strength as quickly as we had seen in previous years," Xue Jianxiong, head of research at Shanghai Youwin Real Estate Information Services, told Shanghai Daily. "Usually March is the month when transaction volume would begin to pick up quite significantly after the traditional slack January and February when Spring Festival usually falls."
... | | By: China real estate | | |
| | Indiana housing market on slippery slope | | 2008-03-03 16:35:00 | | "Because there are fewer qualified buyers and a huge supply of homes, sellers are getting beaten up," Scott said. "They are having to reduce their asking price and sometimes even paying closing costs."Ken Blackwell, owner of Blackwell Construction in Bloomington, blames the slowdown on the national credit crunch coupled with a glut of single-family homes on the market."When things are going well, everyone becomes a developer and builder, flooding the market with too much inventory," he said. "Today, you can drive around Bloomington and see subdivisions no one has even heard of."
... | | By: Indianapolis Real Estate News | | |
| | From the Ashes of the Detroit Housing Market | | 2008-03-03 11:33:00 | | Detroit, MI – In the Detroit market is now possible to stop making house payment and/or stop paying rent and yet enjoy the pride of home ownership independent of credit score. The depressed Michigan housing market allows investors to buy bank owned properties for les than 20 cents on the dollar. These properties can be re-habbed, HUD-appraised and purchased by a senior, who is 62 or older and approved for a reversed mortgage. This senior can now be a proud home owner without ever having to make house payments again! The investors are willing to help the seniors by providing a private mortgage or land contract on the home while the reverse mortgage is obtained.What is a reverse mortgage? A reverse mortgage lets an owner convert home equity into cash. However, unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower no longer uses the home as a primary residence.
... | | By: Detroit Real Estate News | | |
| | Will the housing-market slump slam commercial real estate? | | 2008-02-28 16:14:00 | | That's one of the questions real estate executives will try to answer during a Senate Finance Committee hearing Thursday slated to start at 10 a.m. EST. Among those scheduled to testify is David Seiders, chief economist at the National Association of Home Builders, a group so frustrated with Washington's inaction on the housing front that it recently cut off all contributions to Congressional office seekers "until further notice." The trade group wants lawmakers to modernize the Federal Housing Administration and reform Fannie Mae and Freddie Mac, the biggest sources of financing for U.S. home loans.
... | | By: Commercial Real Estate News | | |
| | Grove, OK Housing Market Is Not Like The Troubled Areas | | 2008-02-22 13:42:29 | | Some homes still move and leaves little choice in some price rangesI have been seeking a nice home for a local man's mother to move to Grove, OK from south Texas. We looked the first weekend and found a home listed at $132,500 that he thought his mother would like, was a quality home, and priced right. We looked on Friday and he called Sunday night to make an offer on it. It had sold on Saturday night.The next week we looked again and found two homes we thought would work. He flew his mother to Oklahoma to look on Friday. I called to confirm my appointment with the number one home and to my dismay it had went under contract the night before. This is two nice homes we have missed. Who said it was a slow market everwhere. In Grove, Oklahoma and the Grand Lake area the market is not robost yet there is also not an abundance of listings to choose from in each price range. It is a market if you find the home you really like and it priced right, do not put off making the offer and getting yo... | | By: Grand Lake OK Real Estate and News | | |
| | U.K. Housing Market Won't Pick Up This Year | | 2008-01-28 01:04:00 | | Such gains have now come to an end. U.K. home prices fell for a third month in January, according to Rightmove Plc, Britain's most-used property Web site. The average asking price for U.K. homes dropped 0.8 percent to 230,428 pounds in January from the previous month, Rightmove said last week. In December, there was a 3.2 percent decline.Mortgage approvals dropped to the lowest in at least a decade in December as banks curbed their lending and higher interest rates deterred buyers.
... | | By: London real estate news | | |
| | Local housing market looking up, real estate economist says | | 2008-01-22 03:26:00 | | Colorado should fare better than the rest of the nation when it comes to the housing market, according to one economist. The fallout from defaults in subprime loans continues to make national headlines almost every day, said Lawrence Yun, chief economist for the National Association of Realtors. But he advised a group of Longmont real estate agents Wednesday to ignore the national stories and focus on what’s happening locally.
... | | By: Denver Real Estate News | | |
| | British housing market facing tough years ahead | | 2008-01-12 17:37:00 | | British house prices will stagnate this year and next and there is a two in three chance that prices fall on an annual basis at some point in 2008, a Reuters poll of property market analysts showed.The survey calls a definitive end to a decade-long housing boom, fuelled on cheap credit, that paused briefly three years ago but is now reeling from a slowing economy, debt loads, and the grip of a global credit crunch.Nearly all of the analysts polled said UK housing was too expensive compared with fundamentals, but only by a median 15 percent, the same as three months ago. Some rated British homes as very overvalued, with estimates as high as 40 percent.But in a group -- as they have been many times over the boom that has tripled average house prices over the past 10 years or so -- economists were not willing to forecast a property price fall to bring affordability back in line.
... | | By: London real estate news | | |
| | Housing Market Stablizing? | | 2007-12-11 10:48:23 | | By Alan Zibel, AP Business Writer
The revised monthly forecast from the National Association of Realtors, which followed nine straight months of downward revisions, calls for U.S. existing home sales to fall 12.5 percent this year to 5.67 million — the lowest level since 2002. Last month, the association predicted 5.66 million existing homes would be [...]... | | By: New Home Community Blog | | |
| | Alberta's hot housing market cools, but still scalding for new buyers | | 2007-11-26 12:30:00 | | EDMONTON - Alberta's hot housing market is no longer on a roiling boil, but it can still be scalding for first-time buyers in a province that demands $400,000-plus for a mobile home in Fort McMurray."We're calling it a correction. There's just been so much steam in (the market) that the top is loose and the steam is getting out a bit," said Jon Hall of the Edmonton Real Estate Board.Drive around the Alberta capital and "for sale" signs have sprouted up on the odd lawn and condo driveway where none had been before.
... | | By: Canada Real Estate News | | |
| | FMLS Helps Keep Housing Market In Perspective | | 2007-11-19 18:43:33 | | As a member of FMLS (First Multiple Listing Service), I receive their monthly email newsletter (e-news). Most of the time it includes information about system upgrades, employees charity events, and training opportunities. However, this month it included a very interesting article about "Keeping Perspective". I found it as a good reminder to many agents, buyers [...]... | | By: Maxsell Real Estate | | |
| | Credit crunch hits top end of housing market | | 2007-11-15 02:24:00 | | LONDON (Reuters) - Ongoing turmoil in financial markets has started hitting the top end of Britain's housing market, according to estate agents, exacerbating worries of a sharp slowdown in the wider property market.House prices in Britain have more than doubled in the last five years and the London market has led the way as a booming financial services sector has encouraged bankers to shell out huge sums for properties in the capital's most desirable areas as well as invest in buy-to-let homes across the country.
... | | By: London real estate news | | |
| | Atlanta Housing Market to Rebound in 2008 | | 2007-11-11 15:09:11 | | The Atlanta Business Chronicle reports the following trend predictions for Residential Real Estate in Metro Atlanta:
Residential real estate trends for 2008
1) Housing inventory will begin to drop off in the second half.
2) The mortgage industry will be back to normal — and healthier than before — sometime around mid-year.
[...]... | | By: Maxsell Real Estate | | |
| | Housing Market Slump `Unthinkable' in Spain | | 2007-09-18 05:00:00 | | ept. 18 (Bloomberg) -- A residential real estate slump in Spain, where prices have almost tripled since 1997, is ``unthinkable,'' the top economic adviser of Prime Minister Jose Luis Rodriguez Zapatero said.The solvency of the banking system and of real estate developers, as well as the unmet demand for new homes, will prevent any meaningful price erosion, David Taguas, head of the prime minister's economic research unit, said in an interview yesterday at his office at the presidential palace in Madrid.
... | | By: Spain real estate news | | |
| | Spanish developer sinks with the cooling housing market | | 2007-08-24 21:39:00 | | From the looks of things at the newly built Aparta Hotel Residencia, you would never know that it was the high summer tourist season in Canet d'En Berenguer, a town of 5,000 just north of Valencia on the Mediterranean coast to Spain. The 308 apartments in the compound, completed this spring, are all unoccupied. Grass has started to sprout between the red terra-cotta tiles that lead to the empty, peanut-shaped swimming pool.The residence is just one of a trail of buildings dotting the sandy coastline that were constructed by Enrique Bañuelos as he amassed a fortune of more than €4 billion, or $5.4 billion, over the past 15 years. Bañuelos lost much of that money - and that of shareholders - as the stock market punished the firm he had founded, Astroc Mediterraneo, as the housing market in Spain cooled rapidly.
... | | By: Spain real estate news | | |
| | Edmonton the hottest housing market in Canada. | | 2007-08-22 23:29:15 | | As the Journal's Ron Chalmers reported a couple of weeks ago, the latest monthly stats from the Realtors Association of Edmonton show average single-family house prices slipped $115 to $417,150 in July, while condo prices rose 2.5 per cent to $271,908.Gregg Becker, Jayman MasterBuilt's Edmonton-area general manager, sees the same trend unfolding. "We're looking at inventories now that are higher than anything we've seen since 1994. We also saw a resale price drop in June for the first time in a long while, and a lot of the major home builders are sitting with a good number of homes in inventory," he notes.
... | | By: Canada Real Estate News | | |
| | The Toronto housing market hit a record in early August. | | 2007-08-18 23:35:16 | | The Toronto Real Estate Board reported yesterday 3,838 properties were sold at an average price of $355,829 in the first half of August. The number of resales was up 17 per cent from the same time in 2006. "Secondly, the luxury market is not a trendsetting segment that is large enough to impact other segments of the housing market." The real estate board said sales rose significantly in early August in west Agincourt, Rexdale, the downtown core and south Richmond Hill.
... | | By: Canada Real Estate News | | |
| | Canada’s Housing Market Forecast to Perform Strong and Steady | | 2007-08-07 03:58:00 | | Canada’s resale housing market finished the second quarter on strong and steady footing; surprising many by its astounding momentum. Healthy and robust conditions are expected to prevail through to year’s end as all regions are poised to experience a rise in average house prices, with double-digit gains forecast for Edmonton, Calgary, Winnipeg and Regina, according to a report released today by Royal LePage Real Estate Services. Echoing the growth and activity experienced in all Canadian markets in the first half of the year, the national average house price is forecast to rise by 9.5 per cent, passing the $300,000 mark for the first time, to $303,300. Home sale transactions are projected to rise by 8 per cent to 522,306 unit sales by the end of 2007.
... | | By: Canada Real Estate News | | |
| | Canada's housing market had another record month in June | | 2007-07-12 00:18:00 | | The Canadian Real Estate Association said the average cost of a home was $335,180 last month, compared to $303,472 in June last year, an increase of 10.4 per cent. Also in June, existing home sales rose to a new seasonally adjusted high of 31,300 – up 0.3 per cent from May and 10.9 per cent from a year ago. It was the highest monthly sales level on record and the third consecutive month in which activity scaled new heights, CREA said.
... | | By: Canada Real Estate News | | |
| | Massachusetts housing market may be in the doldrums | | 2007-07-05 11:10:00 | | Still, both April and May saw strong sales and pricing, though much more modestly, according to numbers obtained by the Herald.In April, the average downtown condo sold for $639,856, up 20 percent over the year prior, according to preliminary figures. In May, it sold for $615,000, up 2 percent.In all, condo sales volume for April, May and June was up by about 2.3 percent, to 1,101 condos, compared to the same period last year.
... | | By: Boston real estate news | | |
| | Foreclosures Weighing Further on Housing Market | | 2007-06-11 02:17:23 | | Banks are holding more foreclosed properties right now. The question is, when will they begin to cut their asking prices in order to get the nonperforming asset off their books?
Click here to read a telling article from the LA Times.... | | By: Ponder This | | |
| | Housing Market Analysis | | 2007-05-28 22:10:34 | | With reports showing mixed results in terms of year-over-year price and sales gains or losses, it can become difficult to truly ascertain what is going on in the housing market. In the following article Jas Jain provides a well-researched, insightful breakdown of the composition of the homes being sold in areas throughout California and the Bay Area. It appears as though the homes being sold today are slanted to the higher-ends of the market, represent bigger home size for a similar price, and come complete with a higher percentage of upgrades in a “flip-this-house” style. When median price shows negligible declines year-over-year, some of that lack of decline can be traced to the above mentioned factors. Jain goes to work stripping out the noise in order to gain a true apples-to-apples comparison.
To read the analysis, click here.... | | By: Ponder This | | |
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