UCLA: Home prices have hit bottom
September 29, 2009 by admin
Filed under Positive Real Estate
Housing has reached its landing pad. Prices have hit bottom according to the UCLA Anderson Forecast for September.The forecast also predicts that new home construction is likely to pick up in the next two years.
“Now that prices have adjusted to levels which make existing homes more affordable, sales are increasing and conditions are becoming ripe for new residential construction,” wrote Jerry Nickelsburg, a senior economist with the Anderson Forecast and the author of the California economic outlook.
Source : Lasner
Chicago-area home sales rose in August
September 25, 2009 by admin
Filed under Positive Real Estate
Chicago-area home sales rose in August compared with August 2008, the second consecutive month of year-over-year increases, according to the Illinois Assn. of Realtors.
| Below is a monthly year-over-year comparison of home sales (single-family and condo) in the nine-county Chicago area. | |||
| Month | 2009 | 2008 | Change |
|---|---|---|---|
| January | 2,965 | 3,927 | -24.5% |
| February | 3,082 | 4,326 | -28.8% |
| March | 4,260 | 5,759 | -26.0% |
| April | 4,747 | 6,094 | -22.1% |
| May | 5,634 | 6,927 | -18.7% |
| June | 7,140 | 7,806 | -8.5% |
| July | 7,427 | 7,408 | 0.3% |
| August | 7,009 | 6,917 | 1.3% |
“August proved a strong month for sales, particularly in the single-family market, as we move through inventories mostly for entry-level, lower-priced homes spurred by attractive interest rates, some improvement in consumer confidence and the first-time homebuyer tax credit,” Mike Onorato, president of the association, said in the release. “Foreclosures and short sales continue downward pressure on prices.”
http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=35579
US Homes Values Rise .3% in July
September 22, 2009 by admin
Filed under Positive Real Estate
The value of U.S. homes rose by 0.3% in July compared with June. This reported by the FHFA or Federal Housing Finance Agency. Prices in July were at the same level as March 2005. Prices rose in 5 areas of the Country including 1.6 percent in the Pacific states The report issued Tuesday is based on repeat sales financed through Fannie Mae or Freddie Mac.
Recession Ended in June
September 9, 2009 by admin
Filed under Positive Real Estate
So says Goldman Sachs Group Inc. in New York Edward McKelvey. “The worst U.S. recession since the 1930s may already be over”.
Um thanks for your contribution:-)
Traffic to Real Estate Web Sites Increase
September 4, 2009 by admin
Filed under Positive Real Estate
Home sales rose over the last couple of months–and so did visits to real estate Web sites.
Nielsen Online reports that traffic to real estate Web sites rose 11 percent from 20.7 million visitors in June to 23.1 million in July. Year-over-year growth from July 2008 to July 2009 was 18 percent.
The most likely visitors were people living in two-person households. This demographic was 50 percent more likely than the average Web user to visit a real estate site. Potential homebuyers between the ages of 25 and 34 were 29 percent more likely to look at a real estate site, and people with no children were 32 percent more likely.
Source: Nielsen Wire (09/01/2009)
West Leading the Way Out of Recession
September 1, 2009 by admin
Filed under Pending Home Sales
Pending home sales rose 3.2 percent from June to July, with a surge in sales in the western U.S. outweighing declines in the Northeast and Midwest, the National Association of Realtors said today. Pending home sales were up 12.1 percent from June to July in the West and 3.1 percent in the South, but fell 3 percent in the Northeast and 2 percent in the Midwest regions. All four regions saw a year-over-year increase in pending home sales, led by the West (20 percent) and followed by the South (12 percent), Midwest (8.1 percent) and Northeast (4.7 percent).
California home sales have been up year-over-year for 13 months, and it seems to be leading the US out of the housing slump.
