For the last five to six years, the number of foreclosures has been steadily declining since hitting a peak. December 2015’s total of 32,000 completed foreclosures represented a decline of nearly 73 percent from their monthly peak of 118,000 reached in September 2010, according to the latest data from CoreLogic. The elevated foreclosure numbers in…
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Mortgage Delinquencies and Foreclosure Continue to Fall – Lowest Level Since Early 2008
The percentage of U.S. mortgages that are seriously delinquent fell to the lowest point since the first quarter of 2008 as the overall U.S. economy continues to pick up. The improving job market has contributed to helping more borrowers stay current on their mortgage payments and thereby avoid delinquencies and foreclosures. The delinquency rate for…
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Is Unemployment Stifling the Housing Market?
The unemployment rate was unchanged in May, staying put at 6.3 percent with 9.8 million Americans unemployed. Unemployment is the lowest it has been since September 2008. However, RealtyTrac's Octavio Nuiry makes the case that there is more to unemployment than percentages, and that a hidden actor is depressing housing market growth—and could cause more problems in the future.…
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Default Rates Decline in April to Lowest Post-Recession Rate
Data through April 2014 showed a decline in the national default rate from March, according to S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices. The indices are a comprehensive measure of changes in consumer credit defaults, released monthly. The national composite default rate recorded its lowest post-recession figure of 1.11%…
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Housing Inventory Continues Fall in January
Housing inventory declined more than 9 percent over the month of January in the 19 markets in which online real estate brokerage Redfin has a presence, according to the company’s Real-Time Price Tracker for January. The decline marks the fourth consecutive monthly drop in inventory, according to Redfin. "A year ago, we didn't think inventory could go…
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Annual Home Price Gains Through August 2013 Sets Post-Crisis Record
The S&P/Case-Shiller Home Price Indices rose once again in August at their fastest annual rate in more than six and a half years, but the monthly pace continues to slow. The Case-Shiller 10- and 20-city composites each posted yearly growth of 12.8 percent over August 2012, breaking July records and setting the fastest pace for growth since…
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Home Sale Prices Rise to 5 Year High – Up 5.9% in May
Home prices rose to their highest levels in almost five years in May, increasing by a non-seasonally adjusted 2.5 percent, according to the Case-Shiller Home Price Indices released Tuesday. The 20-city index was up 12.2 percent from a year earlier, and the companion 10-city index was up 11.8 percent. For the month, the 10-city index rose 2.5…
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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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RE/MAX Survey of 53 Metros Finds Home Prices Up Again
According to a March 2012 housing report released by RE/MAX, home prices have risen for the second month in a row now on a year-over-year basis. The RE/MAX report included 53 metro areas and found the median price in March was $184,525, a 7.3% price increase from February, and a 5.8% increase from a year…
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