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Altos Research: Home Prices and Inventories Decline in September
Altos Research: Home Prices and Inventories Decline in September
Altos Research: Home Prices and Inventories Decline in September
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October 11, 2011 (Jeff Alan)

Housing prices fell for the third consecutive month and are continuing to trend downward according to Altos Research’s October Real-Time National Housing Market Update, meanwhile, the mass liquidation of foreclosures that never occurred, leaves housing inventories declining.

Sixteen of the 26 markets in the national report posted declining prices in September, down from 17 in August. Two months ago in July, only seven of the markets reported a price decline and in June, only one market posted a monthly decline.

In the 10-City National Composite, the median price declined for the third consecutive month to $444,045 in September, down from $446,796 in August.

Ten of the 26 metropolitan areas posted monthly price increases with the largest increases posted in Salt Lake City, with a gain of 1.68 percent, and Phoenix, which posted a gain of 1.36 percent

The markets that posted the largest declines were San Jose, with a 1.42 percent decline, and Chicago, with a 1.35 percent price decline.

Altos Research’s weekly sample (7 day) of housing inventory for September shows a continuing downward trend of inventories first observed in July, a traditional seasonal pattern heading into the winter months.

Housing inventories were down 1.89 percent in September with overall inventory down 2.25 percent over the last three months. All 26 of the metropolitan areas posted a decline in inventory.

Tampa experienced the largest decline in housing inventory, posting a 9.86 percent drop in houses for sale in the last month. In August, half of the metropolitan areas showed a decline and half showed an increase in monthly inventory.

The large-scale liquidation of foreclosure portfolios has yet to materialize as servicers are modifying more loans to keep homeowners in their homes. Despite well over a million properties in the shadow inventory, nothing indicates the flood of foreclosures will hit the market soon.

Tags: Altos Research, housing prices, housing inventory, median price, 26 markets, 10-city Composite, 20-city Composite

Source:
Altos Research

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October 11, 2011 (Jeff Alan)

Housing prices fell for the third consecutive month and are continuing to trend downward according to Altos Research’s October Real-Time National Housing Market Update, meanwhile, the mass liquidation of foreclosures that never occurred, leaves housing inventories declining.

Sixteen of the 26 markets in the national report posted declining prices in September, down from 17 in August. Two months ago in July, only seven of the markets reported a price decline and in June, only one market posted a monthly decline.

In the 10-City National Composite, the median price declined for the third consecutive month to $444,045 in September, down from $446,796 in August.

Ten of the 26 metropolitan areas posted monthly price increases with the largest increases posted in Salt Lake City, with a gain of 1.68 percent, and Phoenix, which posted a gain of 1.36 percent

The markets that posted the largest declines were San Jose, with a 1.42 percent decline, and Chicago, with a 1.35 percent price decline.

Altos Research’s weekly sample (7 day) of housing inventory for September shows a continuing downward trend of inventories first observed in July, a traditional seasonal pattern heading into the winter months.

Housing inventories were down 1.89 percent in September with overall inventory down 2.25 percent over the last three months. All 26 of the metropolitan areas posted a decline in inventory.

Tampa experienced the largest decline in housing inventory, posting a 9.86 percent drop in houses for sale in the last month. In August, half of the metropolitan areas showed a decline and half showed an increase in monthly inventory.

The large-scale liquidation of foreclosure portfolios has yet to materialize as servicers are modifying more loans to keep homeowners in their homes. Despite well over a million properties in the shadow inventory, nothing indicates the flood of foreclosures will hit the market soon.

Tags: Altos Research, housing prices, housing inventory, median price, 26 markets, 10-city Composite, 20-city Composite

Source:
Altos Research

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools

October 11, 2011 (Jeff Alan)

Housing prices fell for the third consecutive month and are continuing to trend downward according to Altos Research’s October Real-Time National Housing Market Update, meanwhile, the mass liquidation of foreclosures that never occurred, leaves housing inventories declining.

Sixteen of the 26 markets in the national report posted declining prices in September, down from 17 in August. Two months ago in July, only seven of the markets reported a price decline and in June, only one market posted a monthly decline.

In the 10-City National Composite, the median price declined for the third consecutive month to $444,045 in September, down from $446,796 in August.

Ten of the 26 metropolitan areas posted monthly price increases with the largest increases posted in Salt Lake City, with a gain of 1.68 percent, and Phoenix, which posted a gain of 1.36 percent

The markets that posted the largest declines were San Jose, with a 1.42 percent decline, and Chicago, with a 1.35 percent price decline.

Altos Research’s weekly sample (7 day) of housing inventory for September shows a continuing downward trend of inventories first observed in July, a traditional seasonal pattern heading into the winter months.

Housing inventories were down 1.89 percent in September with overall inventory down 2.25 percent over the last three months. All 26 of the metropolitan areas posted a decline in inventory.

Tampa experienced the largest decline in housing inventory, posting a 9.86 percent drop in houses for sale in the last month. In August, half of the metropolitan areas showed a decline and half showed an increase in monthly inventory.

The large-scale liquidation of foreclosure portfolios has yet to materialize as servicers are modifying more loans to keep homeowners in their homes. Despite well over a million properties in the shadow inventory, nothing indicates the flood of foreclosures will hit the market soon.

Tags: Altos Research, housing prices, housing inventory, median price, 26 markets, 10-city Composite, 20-city Composite

Source:
Altos Research

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use

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