Jul

5 Reasons For A Real Estate Double Dip

housing market values

1. In almost all zip codes today the total economic cost of home ownership notably exceeds the total economic cost of renting. For only a small minority is this unimportant; for them the psychic benefits of ownership are real and large.

2. The majority of owners and potential owners are pessimistic about any real increase in home prices over the next five years; many are of the view that the effective purchasing power of equity congealed in a residence will actually decline over the next decade, compared with other real stores of value Read more

Dec

Home Values Down For 2009

housing market

According to a just released report from the Zillow website, U.S. home values fell by $489 billion in the first 11 months of 2009. Although this is a huge value decline, it’s actually an improvement from 2008, when home values shed $3.6 trillion.

Zillow’s chief economist, Stan Humphries said: “Home values stabilized significantly during the second half of 2009, with the total dollar value of U.S. homes increasing since June. Most housing markets across the country had a good summer, spurred largely by the government’s tax credits for homebuyers, combined with very low mortgage rates.”

Aug

Home Prices Move up 3% in Second Quarter

San Diego home

Standard & Poor’s/Case Shiller’s national home price index increased almost 3 percent to 133 during the second quarter, compared to the first quarter — though it remains 15 percent lower than second-quarter 2008. National home prices are down about 30 percent from their peak in 2003.

Even with this better-than-expected report, all of the 20 cities in the index are lower than a year ago. Still, it’s too early to celebrate … with about 5.5% of all home mortgages seriously delinquent in their monthly payments.

San Diego Little Italy condominiums

Feb

National Home Price Index Drops 18.5%

San Diego real estate market The S&P/Case-Shiller 20-city report on home prices showed a decline of 18.5% in December 2008 from the same month a year earlier.

The index has fallen every month since January 2007. Home prices fell 18.2% in the fourth quarter of 2008, the largest drop in its 21-year history. The average price of a home has dropped by more than 25% after peaking in 2006. San Diego real estate market

Related posts by other bloggers:

talk | discussion | StreetEasy New York Real Estate Search – Discussing 'National – Home Sales and Prices Drop Again, 45% of Sales Distressed'. email updates · RSS National – Home Sales and Prices Drop Again, 45% of Sales Distressed. 1 comment. nyc10022. about 3 hours ago. ignore this person …

DallasDirt » Blog Archive » Case-Shiller: Biggest Home Price Drop … – 2000 was when Standard & Poor’s/Case-Shiller National Home Price Index first started tracking home sales, but the drop is significant. However, this very cool interactive widget from the NYT allows you to find your city — Dallas is one …

Jan. home sales fall again nationally, fall steeper in St. Louis … – If you haven’t seen yet, a new batch of existing home-sales data came out today from the National Association of Realtors. Sales fell, again, down 5.3 percent from December and by 8.3 percent compared to January of last year. …. You’ll really see prices drop the longer the depression goes on. At some point, many who want to sell but don’t have to will eventually cave and finally reduce their prices. Just becuase new houses are still high doesn’t mean the builders are …

Dec

Home Values Fall 18% in October

The Standard & Poor's/Case-Shiller 20-city housing index dropped a record 18 percent from October last year. This is the largest drop for the index since its inception in 2000. The smaller 10-city index also tumbled 19.1 percent, its biggest decline in its 21-year history.

Both of these indices have recorded year-over-year declines for 22 straight months. None of the 20 cities in the Case-Shiller index saw annual price gains in October — for the seventh consecutive month — and 14 of them posted record year-over-year declines.

Three metro areas with the largest drops were Phoenix with almost a 33% drop, Las Vegas with nearly a 32% fall, and San Francisco witha 31% decline.

Also today, the Conference Board's Consumer Confidence index dropped to 38 in December from a revised 44.7 in November, well below the expectation of 45 of economists surveyed by Thomson Reuters.

Recent prior related posts:

Home Prices Plunge in 3rd. Quarter

Home Value Index – Largest Drop In History

Real Estate Record Home Price Declines

San Diego Real Estate – 5th Largest Decline Through July

Survey Says Home Values Must Fall Another 14%

May Home Prices Take Biggest Drop Ever

La Jolla Bank Owned Foreclosure

Nov

Subprime Loan Perspective – Interview with Former Golden West Financial CEO

Another view on the subprine home loan mess from an industry insider. This is a serious interview with the former head of Golden West (i.e World Savings) that was bought by Wachovia in 2006:

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Prior related posts: