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The Real Estate Market Today

THE REAL ESTATE MARKET TODAY 3% TO 5% Home-price declines nationwide will be limited to 3% to 5% and that 2012 will be the year that prices finally stabilize - setting the stage for gains in 2013 ZZXXZ 4% AND 5% The total US for-sale inventory of single family homes, condos, townhomes and Co-ops remained at historic lows, with In the 5 + years since the peak of the market, home prices nationally fell by Interest Rates should hover 1.84 million units for sale in between 4% and 5% August 2012, down -18.68% compared to a year ago. 1.84 MILLION UNITS FOR SALE If they can afford to buy now, it makes sense to buy a second home as a vacation home or retirement home in 2012 than to wait. If they wait 10 to 15 years, prices will go up and interest rates will rise. FOR FOR FOR SALE SALE SALE The median price of an existing home fell over 4 percent in 2011 Existing-home sales rose a modest 1.7 percent last year, according to the National Association of Realtors. The number of homeowners who owe more than their homes worth decreased modestly in the third quarter, though levels remained high. Q2 2011 Mortgage delinquency rate dropped to 10.53% during the year to Q2 2011, down from 11.17% in during the year to Q2 2010 Q2 2012 Five most promising housing markets PITTSBURGH > Growing job base > Mildly impacted from the recession > Higher incomes then national average > Housing values predicted to gain 2% in 2013 AKRON, OHIO > Average home price of $148,508 has slipped 4% in the last year > Values are down only 13% from the peak > Market is expected to gain 2% in 2013 WORCESTER, MASSACHUSETTS > High-tech job growth > Average home price of 237,020 declined 3% over the last year TEXAS > 2 things fueling the market- oil and people > Population growth is triple the national average > Market is expected to gain 2% in 2013 NEW ORLEANS/METAIRIE-KENNER, LA > Average home price of $249,673 declined 2% in the last year > Expected to take another 2% hit in 2012 > Prices should appreciate 1% in 2013 on stronger job growth than the national average 5 Least Promising housing markets All expected to decline another 7% -10% in the next year alone SACRAMENTO /FRESNO WILMINGTON, DELAWARE ATLANTA/SANDY SPRINGS VIRGINIA BEACH/NORFOLK /MARIETTA, GA. /NEWPORT NEWS VIRGINIA AND NORTH CAROLINA ANNUAL HOUSE PRICE CHANGES 2011 Median asking price – US$138,400 Median sales price – US$228,100 Average sales price – US$267,600 NOMINAL : -4.29 NOMINAL : 3.92 NOMINAL : -0.45 REAL:-7.46 REAL:0.47 REAL:-3.75 FHFA: Purchase only index S&P/Case-Shiller®: 10 main cities NOMINAL : -5.93 NOMINAL : -5.95 REAL:-9.05 REAL:-9.07 www.mountainseed.com Sources: http://www.globalpropertyguide.com/North-America/United-States/Price-History http://realestate.msn.com/january-buying-advice-best-and-worst-markets http://www.kiplinger.com/magazine/archives/where-home-prices-are-headed.html http://www.realtor.com/data-portal/Real-Estate-Statistics.aspx?source=web MOUNTAINSEED %24

The Real Estate Market Today

shared by VisualApogee on Sep 28
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Due to the economic downturn within the past few years it hasn't been easy to determine where the housing market actually is until now. Here's a detailed list of stats and helpful tips to see what to ...

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Mountain Seed

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Economy
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