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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Rent Prices Continue to Rise Faster than Asking Prices: Seattle #5 in Country
Rent prices are climbing faster than asking prices and are rising in metros where asking prices are falling, according to a report from Trulia. Year-over-year, nationwide rent prices were up 5.1% in October, while asking prices were up 2.9% during the same period when including foreclosures. Out of the top 25 rental markets in the…
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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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Check Out Our Upcoming Series on Income Producing Properties!
We are very pleased to introduce our upcoming series on income producing properties both single and multi-family in the Greater Seattle area. This will be a four part series focusing on the positives and negatives of investing in the rental market in the current economic conditions. The series topics will be as follows: Homeownership Rate…
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September Foreclosure Starts Reach 2007 Levels
In September, the nation’s delinquency rate suddenly spiked 7.7% from August, according to data from Lender Processing Services (LPS). The data provider explained the surge in its recent Mortgage Monitor report for September. For one, first time delinquencies increased by about 200,000 from the month before as more borrowers rolled into 30-day delinquency status. Re-default…
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