Tag Archives: House Prices

As US homebuilders experience a slow but steady comeback, there is guarded hope that it will bring along with it the return of a prosperous economy. On the heels of the fourth straight month in increased housing starts, and with building permits for single-family dwellings attaining its highest level since March 2010, guarded optimism is appropriate. Guarded because, although home construction typically fuel recoveries, this recovery has behaved differently. Additionally, the rest of the economy is tilting downward again making a construction-powered recovery even more difficult.

As the gains in single-family dwellings were broad-based, it looks like the house market is truly on the rise, but for how long is uncertain. The housing bubble burst in 2007 and housing sales reached their lowest point in April 2009; from there, housing has slowly struggled to return. Government tax credits helped increase home sales at the start of 2010 but by mid-year, the sales lagged again. It was not until the latter part of 2011 that they began to rise again. This recent uptick in sales and building permits bodes particularly well for Illinois, Michigan, Arizona and Texas mortgage shoppers that have been waiting for a break on new home sales. Continue reading

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CoreLogic’s Home Price Index, which was launched recently this March, suggests significant increase in house prices on a monthly basis for the first time ever in almost a year. The Home Price Index that estimates home prices, such as sales of distressed homes, have increased by a 0.6 percentage from the month of February that is recorded as the first significant improvement since July of 2011. However, the Index was down by a similar statistic from the Index on March of 2011. When distressed sales and purchases, composing of short sales and lender-owned property sales, are excepted, the monthly digits recorded was up for the third progressive month and was 0.9% greater as compared with the corresponding digits derived on March of 2011.

The national Home Price Index encompassing distressed sales have lowered down by up to 33.7% from its average number in April of 2006 up till present date. When distressed property purchases are removed from the equation, the average up till current alteration in the Home Price Index was -25%. Continue reading

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A bigger home is something that nearly everyone dreams about. In fact, a lot of people simply go to work everyday, with the hope that they will one day earn enough money to actually afford the home of their dreams. … Continue reading

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