Home Prices Up
home prices
Home prices up for third month in a row
The Standard & Poor’s case Shiller report for the 20 largest cities in the US showed that prices increased in 19 of the 20 cities track. the report showed that prices rose 3.6% for the April through June quarter when compared to the prior quarter. One should keep in mind that this price increase was not adjusted for seasonal trends. this is very important because after the prior 12 months of reported home price increases were adjusted for seasonal trends, they were all down. Read more 
Pending Home Sales Drop
brokerforyou.com
Real estate market
The national Association of realtors released a report today that showed that pending home sales for July drop 1.3%.
Sorry, if I’m sounding repetitive here, but these bad reports for real estate, occurring as they are during our seasonally strongest marketing time, are very ominous. Read more
Home Foreclosures 51% of California Home Sales
home foreclosures
Home Foreclosures
The foreclosure listing firm RealtyTrac Inc. said in a report today that home foreclosures accounted for 31 percent of the market in the second quarter of 2011. The good news was that this was a smaller share of sales when compared to the previous quarter. Unfortunately this percentage of home foreclosure sales is approximately six times the amount that would be seen in a normal housing market! Read more
Home Mortgage Applications Drop to 15-year low
home mortgage loans
The Mortgage Bankers Association said today that an index measuring mortgage applications, which are adjusted for seasonal factors, fell 2.4 percent last week from the previous week. Home mortgage applications plunged 5.7 percent to its lowest level since December 1996.
Also, sales of new and previously occupied homes both fell in July. Sales of new homes are on pace to finish the year as the lowest on records dating back to 1963.
The pace of re-sales is shaping up to be the worst in 14 years.
San Diego California real estate
New Home Sales Fall in July
home sales
Home sales
The Commerce Department just reported, that new home sales fell for the third consecutive month to a five-month low!
Nationally, many believe if the current pace continues, 2011 would be the worst year for new-home sales in nearly half a century.
Well, there was some good news in this report, and that was that sales rose in July for new homes valued at less than $150,000 and also increased for those going for more than $750,000. But mid-priced home sales fell.
What you won’t see reported along with the story, and probably the most ominous sign this drop in new home sales is indicating, is that this drop in sales is occurring at the seasonal best time for real estate sales. So, in a couple months as we approach fall and winter, the traditional slow time for real estate sales, what do you think will be happening in the market?
Home Mortgage Applications Fall
Home mortgage applications drop
The Mortgage Bankers Association recently reported that after experiencing a 13% surge in mortgage applications, the mortgage market lost steam with applications dropping 5.9%. While homeowners rushed to refinance earlier in the month, that trend reversed itself, with the refinance index and purchase index falling 7.2% and 2.8%, respectively,
The four-week moving averages for the market index and the refinance index are up 0.4% and 0.8%, respectively, while the seasonally adjusted purchase index is down 0.7%. Refinancing activity cooled as the refinance share of mortgage activity fell to 69.2% of total applications from 70% the previous week. In addition, the adjustable-rate mortgage share of activity fell to 5.9% from 6.1% the prior week.