Home Prices Flat in Latest Quarter, Fall Slowdown Begins
Home Prices Flat in Latest Quarter, Fall Slowdown Begins
Home Prices Flat in Latest Quarter, Fall Slowdown Begins
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November 7, 2011 (Jeff Alan)

U.S. home prices in the current rolling quarter ending in October were nearly flat with prices increasing only 0.6 percent, down from 3.5 percent last month, indicating the slowdown predicted last month has begun according to Clear Capital’s Home Data Index (HDI).

Year-over-year, home prices were 2.8 percent lower than at this time last year, marking the 13th consecutive month that annual home prices have declined.

Three of the four regions in the Index posted quarterly gains with the largest price gains posted in the Midwest (2.6%), followed by the Northeast (1.5%) and the South (0.5%), while the West (-1.0%) was the only region to post a decline.

By comparison, three of the four regions posted year-over-year declines with the West suffering the largest decline (-5.5%), followed by the Midwest (-3.6%), and the South (-2.4%), with the Northeast (1.2%) being the only region to post an increase.

Home prices in the last six months continued to show some signs of stabilizing as three of the four regions also posted price gains with the Midwest (2.5%) posting the largest gain, followed by the Northeast (1.8%) and the South (0.4%). The West (-2.2%) once again posted the worse performance.

Dr. Alex Villacorta, Director of Research and Analytics at Clear Capital said, “October home price gains have leveled out, confirming what our data has pointed to over the last several months. Short term gains have been nearly eliminated while longer term performance measures point to mostly negative territory through the turn of the year.”

All of the cities in the 15 highest performing markets posted quarterly gains but with a considerable loss in momentum. Cleveland (6.2%) was again the top performer but was off substantially from last month’s gain of 18.2 percent. Not one of the cities in the highest performing markets posted a double digit gain.

Rounding out the top five after Cleveland was Hartford (6.0%), Washington D.C. (5.7%), Columbus (4.9%) and Jacksonville (4.4%). Florida markets dominated the list of highest performing markets by capturing seven of the top 15 spots.

All of the cities in the 15 lowest performing markets posted a decline in the last quarter giving back most of the gains from the summer buying season.

Las Vegas (-3.4%) was also once again the worse performing market following a 1.7 percent decline last month. Rounding out the top five was Atlanta (-3.0%), Seattle (-2.6%), Riverside CA (-2.3%) and Fresno (-2.3%). California markets continued to dominate the list with six of the 15 worst performing markets coming from that state, though down from seven last month.

The REO saturation rate for the highest performing markets averaged less than 23 percent while the saturation rate in the lowest performing markets averaged 30 percent.

“With current tepid demand expected to weaken even more, consumer confidence at record lows, and as the distressed inventory continues to flow into the market, we can expect another long winter as the housing market will truly be put to the test against these downward forces,” added Villacorta.

Tags: Clear Capital, housing prices, price declines, REO, saturation rate, consumer demand, metropolitan areas

Source:
Clear Capital

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November 7, 2011 (Jeff Alan)

U.S. home prices in the current rolling quarter ending in October were nearly flat with prices increasing only 0.6 percent, down from 3.5 percent last month, indicating the slowdown predicted last month has begun according to Clear Capital’s Home Data Index (HDI).

Year-over-year, home prices were 2.8 percent lower than at this time last year, marking the 13th consecutive month that annual home prices have declined.

Three of the four regions in the Index posted quarterly gains with the largest price gains posted in the Midwest (2.6%), followed by the Northeast (1.5%) and the South (0.5%), while the West (-1.0%) was the only region to post a decline.

By comparison, three of the four regions posted year-over-year declines with the West suffering the largest decline (-5.5%), followed by the Midwest (-3.6%), and the South (-2.4%), with the Northeast (1.2%) being the only region to post an increase.

Home prices in the last six months continued to show some signs of stabilizing as three of the four regions also posted price gains with the Midwest (2.5%) posting the largest gain, followed by the Northeast (1.8%) and the South (0.4%). The West (-2.2%) once again posted the worse performance.

Dr. Alex Villacorta, Director of Research and Analytics at Clear Capital said, “October home price gains have leveled out, confirming what our data has pointed to over the last several months. Short term gains have been nearly eliminated while longer term performance measures point to mostly negative territory through the turn of the year.”

All of the cities in the 15 highest performing markets posted quarterly gains but with a considerable loss in momentum. Cleveland (6.2%) was again the top performer but was off substantially from last month’s gain of 18.2 percent. Not one of the cities in the highest performing markets posted a double digit gain.

Rounding out the top five after Cleveland was Hartford (6.0%), Washington D.C. (5.7%), Columbus (4.9%) and Jacksonville (4.4%). Florida markets dominated the list of highest performing markets by capturing seven of the top 15 spots.

All of the cities in the 15 lowest performing markets posted a decline in the last quarter giving back most of the gains from the summer buying season.

Las Vegas (-3.4%) was also once again the worse performing market following a 1.7 percent decline last month. Rounding out the top five was Atlanta (-3.0%), Seattle (-2.6%), Riverside CA (-2.3%) and Fresno (-2.3%). California markets continued to dominate the list with six of the 15 worst performing markets coming from that state, though down from seven last month.

The REO saturation rate for the highest performing markets averaged less than 23 percent while the saturation rate in the lowest performing markets averaged 30 percent.

“With current tepid demand expected to weaken even more, consumer confidence at record lows, and as the distressed inventory continues to flow into the market, we can expect another long winter as the housing market will truly be put to the test against these downward forces,” added Villacorta.

Tags: Clear Capital, housing prices, price declines, REO, saturation rate, consumer demand, metropolitan areas

Source:
Clear Capital

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
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REVIEW YOUR OFFERS
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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.
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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.
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November 7, 2011 (Jeff Alan)

U.S. home prices in the current rolling quarter ending in October were nearly flat with prices increasing only 0.6 percent, down from 3.5 percent last month, indicating the slowdown predicted last month has begun according to Clear Capital’s Home Data Index (HDI).

Year-over-year, home prices were 2.8 percent lower than at this time last year, marking the 13th consecutive month that annual home prices have declined.

Three of the four regions in the Index posted quarterly gains with the largest price gains posted in the Midwest (2.6%), followed by the Northeast (1.5%) and the South (0.5%), while the West (-1.0%) was the only region to post a decline.

By comparison, three of the four regions posted year-over-year declines with the West suffering the largest decline (-5.5%), followed by the Midwest (-3.6%), and the South (-2.4%), with the Northeast (1.2%) being the only region to post an increase.

Home prices in the last six months continued to show some signs of stabilizing as three of the four regions also posted price gains with the Midwest (2.5%) posting the largest gain, followed by the Northeast (1.8%) and the South (0.4%). The West (-2.2%) once again posted the worse performance.

Dr. Alex Villacorta, Director of Research and Analytics at Clear Capital said, “October home price gains have leveled out, confirming what our data has pointed to over the last several months. Short term gains have been nearly eliminated while longer term performance measures point to mostly negative territory through the turn of the year.”

All of the cities in the 15 highest performing markets posted quarterly gains but with a considerable loss in momentum. Cleveland (6.2%) was again the top performer but was off substantially from last month’s gain of 18.2 percent. Not one of the cities in the highest performing markets posted a double digit gain.

Rounding out the top five after Cleveland was Hartford (6.0%), Washington D.C. (5.7%), Columbus (4.9%) and Jacksonville (4.4%). Florida markets dominated the list of highest performing markets by capturing seven of the top 15 spots.

All of the cities in the 15 lowest performing markets posted a decline in the last quarter giving back most of the gains from the summer buying season.

Las Vegas (-3.4%) was also once again the worse performing market following a 1.7 percent decline last month. Rounding out the top five was Atlanta (-3.0%), Seattle (-2.6%), Riverside CA (-2.3%) and Fresno (-2.3%). California markets continued to dominate the list with six of the 15 worst performing markets coming from that state, though down from seven last month.

The REO saturation rate for the highest performing markets averaged less than 23 percent while the saturation rate in the lowest performing markets averaged 30 percent.

“With current tepid demand expected to weaken even more, consumer confidence at record lows, and as the distressed inventory continues to flow into the market, we can expect another long winter as the housing market will truly be put to the test against these downward forces,” added Villacorta.

Tags: Clear Capital, housing prices, price declines, REO, saturation rate, consumer demand, metropolitan areas

Source:
Clear Capital

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.