10 Lessons to Learn as the Housing Market Recovers

10 Lessons to Learn as the Housing Market Recovers

On July 18, 2012, in Housing Market News, Ron Phipps, Uncategorized, by NAR

 Headlines abound: The Housing Bust is over… In June, a survey of economists concluded that housing has hit bottom.  Realtors®, homeowners and renters, Americans, and citizens of the world all are sighing with collective relief.  The economy and housing values both have cycles.  It has been more than eighty years since the difference between the top and the bottom was so great.

Click Here to Read More....

 

Multiple Offers Return as Buyers are Back 
By Steve Cook 


RISMEDIA, Monday, July 09, 2012— Record tight inventories are making it increasingly difficult for growing numbers of buyers, who are creating multiple-bid environments in markets that haven’t seen buyers battle over homes in six years.

Click on this Link to Read More

Housing Passes a Milestone

Housing Passes a Milestone

July 2012 From Wall Street Journal On Line

Nearly seven years after the housing bubble burst, most indexes of house prices are bending up. "We finally saw some rising home prices," S&P's David Blitzer said a few weeks ago as he reported the first monthly increase in the slow-moving S&P/Case-Shiller house-price data after seven months of declines.

Click Here to Read the Rest of this Article

Median DC Metro Area Sale Price Hits $400K, First Time Since 2008

Median DC Metro Area Sale Price Hits $400K, First Time Since 2008

Rockville, MD – (July 10, 2012) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on June 2012 MRIS housing data.

OVERVIEW
Median sale prices continue to climb through most of the Washington Metro Area.  Price gains, decreasing days-on-market (average down 10 days from June 2011), and a tightening sale-to-list price ratio (up 2.0 percentage points from June 2011) are evidence that the diminishing inventory of homes for sale in the region is having an impact on the market. 

Click on ink to Read More

Real Estate Incomes on the Rise? 

Daily Real Estate News | Friday, July 06, 2012 - from the National Association of Realtors®

REALTORS® may see a 13 percent rise in income this year compared to last year, according to projections by National Association of REALTORS®’ Chief Economist Lawrence Yun.
The income increases are projected assuming that a 10 percent gain in home sales and 3 percent in home prices comes to fruition this year.

Click Here to Read the Rest of this Article

 

Mortgage rates chart new depths

Reuters: Rate cuts by central banks signal 'growing alarm' about global economy

By Inman News, Thursday, July 5, 2012.

Inman News®

Rates on 30-year fixed-rate mortgage (FRM) averaged 3.62 percent with an average 0.8 point for the week ending July 5, down from 3.66 percent last week and 4.60 percent a year ago, Freddie Mac said in releasing the results of its Primary Mortgage Market Survey. That's a new all-time low in Freddie Mac records dating to 1971.

Click Here to View Whole Article

Economists expect 2013 home price rebound

By Inman News, Monday, June 25, 2012. 

After experiencing a slight dip this year, home prices will see modest increases starting in 2013 and through 2016, according to a quarterly survey of more than 100 economists, real estate experts and investment strategists.

Please Click Here to View this Article