Home Prices Increase
Home Prices Increase
Yes, it’s always good to hear positive news on the San Diego real estate market. First, let’s talk nationally, today’s release of the monthly Standard & Poor’s/Case Shiller index showed that home prices increased by 1.2% in July versus the average home price in June. for all 20 cities tracked by this report, home prices increased in every city for the third month in a row. Read more 
Good Real Estate News
Good Real Estate News
The Commerce Department reported today that single-family housing starts rose 5.5 percent to an annual rate of 535,000 homes, the best pace since April 2010. Apartment construction, which can be volatile from month to month, fell 4.9 percent.
The rate of home construction has improved almost 60% since hitting a recession low in April 2009. It’s still half the pace considered healthy. Read more
Fifth Consecutive Month of Improvement in Home Builder Confidence
Home builder sentiment
The National Association of Home Builders/Wells Fargo (NAHB) builder sentiment index released today, rose to its highest level in six years.
Builder confidence in the market for newly built, single-family homes rose for a fifth consecutive month in September to a level of 40 and brings the index to its highest reading since June of 2006. Read more
US Housing Market
US Housing Market Zombified
Forecast from Barry Ritholtz, CEO of Fusion IQ, of when the foreclosure machinery will be creaking back to life.
Sounds like Mr. Ritholtz is calling for a possible additional 5 to 10% drop in home prices.