Sales fell 15 percent in May from the year earlier to a seasonally adjusted annual rate of 4.81 million. Inventory increased to a 9.3-month supply. The sales pace is in the bottom 10% of readings in the 12 years of data. 148 more words
Tags » The Price Of Real Estate
Mortgage rates are near 50-year lows. Affordability has improved dramatically. The ratio of home prices to income is 21% lower than its 15-year average. An excess of 3 million vacant units makes this a buyer’s market. 226 more words
A report from Fannie Mae found 27% of homeowners would consider walking away. The previous year only 15% would think of defaulting on a mortgage they could still afford. 209 more words
CoreLogic reported today that 27.7 percent of all homeowners with a mortgage are near or in negative equity.
Negative equity borrowers are “underwater” and “upside down” with mortgage debt greater than the value of their home. 297 more words
A good gauge of prices looks good at 75 percent and looks to have a better good future.
The Housing Opportunity Index measures housing affordability by tracking price against median income – now at $64,400 (See chart below). 141 more words
The Case-Shiller 20-city index released today has fallen under the bubble-crash low of April 2009 and confirms a double-dip in home prices. S&P reports a 4.2% national fall in values just in the first quarter of this year. 144 more words