Home prices are based on supply and demand and overall home supply looks headed for a fall. Sellers are poised to regain negotiation leverage.
Category Archives: Housing Analysis
Homebuilders Expect More Sales Volume This Year
According to the monthly Housing Market Index as published by the National Association of Homebuilders, after 4 straight months of reading 16, March homebuilder confidence ticked 1 point higher to 17. It’s the highest confidence reading in 10 months.
Home Affordability Peaked Last Quarter; Purchasing Power Sinks 10%
Home affordability reached an all-time high in 2010’s last quarter. Unfortunately for home buyers, it’s been a different story since, however.
Ignore The Case-Shiller Index; Focus On The Future Instead
December’s Case-Shiller Index showed major devaluations nationwide. As compared to December 2009, on a year-over-year basis, home values fell in 18 of the Case Shiller Index’s 20 tracked markets, and the U.S. National Index dropped 4 percent overall. The retreat puts December’s home values at similar levels as compared to early-2003.
New Home Sales Crater In January, Opening The Door For Deals With Builders
In its monthly New Home Sales release, the U.S. Department of Commerce showed a 13 percent drop-off in annualized new construction sales between the months of December and January. It’s the biggest one-month drop in New Home Sales since May 2010.
Existing Home Supply Down 40% In Last 6 Months
Home resales rose another 2.7 percent last month, according to the National Association of REALTORS® monthly Existing Home Sales report.
Single-Family Housing Starts Fell In January, Despite What The Headlines May Have Told You
Annualized Single-Family Housing Starts dropped 1 percent in January to 413,000 units nationwide, it’s lowest reading almost 2 years. The headlines would have you believe otherwise.
Home Builders Report Higher Sales Levels In January
Homebuilder confidence in the market for newly-built, single family homes appears stable as the spring buying season gets underway.
Foreclosure Activity Drops Throughout The Most Foreclosure-Heavy States
Foreclosure activity is slowing. According to foreclosure-tracker RealtyTrac, the number of foreclosure filings dropped 17 percent on an annual basis last month. Monthly filings ticked higher 1 percent after a combined 23 percent decrease through November and December 2010.