About: Terry James

Recent Posts by Terry James

Monthly Increase In REOs By Over 11% Drives Up Foreclosure Activity in May

After posting a 75-month low in April, foreclosure filings increased 2 percent in May, according to RealtyTrac. The rise was primarily driven by an 11% increase in REOs over the month. However, REOs demonstrated a 29% decline year-over-year in May, while foreclosure filings fell 28% over the same time period. “Foreclosure activity continued to bounce back in…
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Foreclosure Inventory Falls 24% from Year Ago

Foreclosure inventory continued to shrink in April, with the number of homes in some stage of the foreclosure process down 24 % year-over-year, according to data from CoreLogic. About 1.1 million homes sat in foreclosure inventory in April compared to 1.5 million properties a year ago, CoreLogic reported. Foreclosure inventory also dipped month-over-month, falling 2% from…
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Existing-Home Sales and Prices Jump to Multiyear Highs

Existing-home sales rose 0.6% in April to an annual sales rate of 4.97 million, the highest level since November 2009, the National Association of Realtors reported Wednesday. Economists had expected a 1.6%  increase to 5.0 million from March’s original report of 4.92 million sales. March sales were adjusted upward to 4.94 million. The median price of an…
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Home Prices Up 10.7% Year Over Year – Biggest Annual Gain Since 2006

Year-over-year home price gains in March landed in double-digit territory, according to CoreLogic’s Home Price Index (HPI) report. Home prices—when including distressed sales—rose by 10.5% in March compared to the year before, marking the biggest annual gain since March 2006, the data provider reported. When excluding distressed sales, prices were up by 10.7% year-over-year. “For the first time…
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Foreclosure Inventory Down Nearly 20% From A Year Ago

In December, the number of homes in some stage of the foreclosure process continued to shrink, and fewer homes were lost to foreclosure, according to the National Foreclosure Report from Corelogic. Foreclosure inventory saw a 19.5% decrease from a year ago as foreclosure inventory was reduced to 1.2 million homes, down from 1.5 million in December 2011. The number…
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Population of Multifamily Renters Expected to Grow Increasing Opportunity for Investors in Both Multi-Family and Single Family Rental Properties

In a slow recovery, Freddie Mac expects to see further growth in the multifamily sector, while the homeownership rate is projected to tick down from its already historically low rate. According to the GSE’s multifamily demand forecast, the homeownership rate will descend by one or two percentage points to around the 65% level, which implies…
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Demand Rises as Inventory Falls in Single-Family Rental Market

Demand in the single-family rental market continues to expand even as inventory tightens, according to the latest MarketPulse report from CoreLogic. Comparing lease rates, supply, pricing, and the ratio between bid prices and asking prices clearly demonstrates an increasingly tightening market. “[S]ome of the new demand is being driven by former homeowners who have experienced…
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Homeownership Rate Stays Near Historic Lows

The number of households owning homes reached 75,076,000 in the third quarter, increasing from 74,832,000 in the second, but down from 75,251,000 a year ago, the Census Bureau reported Tuesday. At the same time, the nation’s homeownership rate (seasonally adjusted) remained at 65.5%. The homeownership rate stayed near historic lows. The rate in the first…
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