Smaller Housing Price Swings Indicates Market is Stabilizing
Smaller Housing Price Swings Indicates Market is Stabilizing
Smaller Housing Price Swings Indicates Market is Stabilizing
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December 19, 2011 (Jeff Alan)

U.S. home prices in the current rolling quarter ending in November posted a modest increase of 0.3 percent after declining by 0.6 percent last month with the smaller gains and losses in housing prices indicating that the market may finally be starting to stabilize according to Clear Capital’s Home Data Index (HDI).

Year-over-year, home prices were still 2.2 percent lower, marking the 14th 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 (1.2%), followed by the Northeast (0.5%) and the South (0.2%), while the West (-0.8%) 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 (-4.7%), followed by the Midwest (-3.0%), and the South (-1.6%), with the Northeast (0.4%) being the only region to post an increase.

Comparing home prices over the last six months produces a much more stable picture of the housing market with three of the four regions posting price gains, led by the Midwest (2.1%), the Northeast (0.7%). and the South (0.3%). The West (-2.2%) once again posted the worse performance.

Dr. Alex Villacorta, Director of Research and Analytics at Clear Capital said, “The overall market stability in this month’s report gives me hope that housing markets are settling after a very turbulent two years. With only a one percent drop in national home prices since January and virtually no change in prices over the last six months, strong evidence suggests the big swings that many market participants are accustomed to could become a thing of the past.”

All of the cities in the 15 highest performing markets posted quarterly gains but with a considerable loss in momentum signaling a softening of prices coming into the fall quarters. The Washington D.C. area (4.8%) was the top performer, followed by Hartford (3.6%), Denver (3.4%), Orlando (3.4%) and Houston (3.2%).

All of the cities in the 15 lowest performing markets posted a decline in the last quarter with Atlanta (-9.7%) jumping to the top of the list, posting a quarterly price loss three times greater than the previous month (-3.0%). The next lowest performing market, Seattle (-4.4%), posted a quarterly price decline of less than half of Atlanta’s. Rounding out the top five were Memphis (-3.1%), Tucson (-2.8%) and San Diego (-2.6%).

The REO saturation rate for the highest performing markets averaged 21.6 percent, down from 22.8 percent last month, while the saturation rate in the lowest performing markets averaged 30.0 percent, unchanged from last month. Overall, the nationwide REO saturation rate was 24.6 percent.

“Although many of the nation’s major markets are experiencing no significant movement in prices, there are still several micro markets that are underperforming the overall market due to high levels of REO saturation. As lien holders continue to process their foreclosures and the flow of REOs continue to come to market, it will be critical for industry participants to ensure they understand the micro economic nature of specific markets,” added Villacorta.

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

Source:
Clear Capital

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December 19, 2011 (Jeff Alan)

U.S. home prices in the current rolling quarter ending in November posted a modest increase of 0.3 percent after declining by 0.6 percent last month with the smaller gains and losses in housing prices indicating that the market may finally be starting to stabilize according to Clear Capital’s Home Data Index (HDI).

Year-over-year, home prices were still 2.2 percent lower, marking the 14th 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 (1.2%), followed by the Northeast (0.5%) and the South (0.2%), while the West (-0.8%) 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 (-4.7%), followed by the Midwest (-3.0%), and the South (-1.6%), with the Northeast (0.4%) being the only region to post an increase.

Comparing home prices over the last six months produces a much more stable picture of the housing market with three of the four regions posting price gains, led by the Midwest (2.1%), the Northeast (0.7%). and the South (0.3%). The West (-2.2%) once again posted the worse performance.

Dr. Alex Villacorta, Director of Research and Analytics at Clear Capital said, “The overall market stability in this month’s report gives me hope that housing markets are settling after a very turbulent two years. With only a one percent drop in national home prices since January and virtually no change in prices over the last six months, strong evidence suggests the big swings that many market participants are accustomed to could become a thing of the past.”

All of the cities in the 15 highest performing markets posted quarterly gains but with a considerable loss in momentum signaling a softening of prices coming into the fall quarters. The Washington D.C. area (4.8%) was the top performer, followed by Hartford (3.6%), Denver (3.4%), Orlando (3.4%) and Houston (3.2%).

All of the cities in the 15 lowest performing markets posted a decline in the last quarter with Atlanta (-9.7%) jumping to the top of the list, posting a quarterly price loss three times greater than the previous month (-3.0%). The next lowest performing market, Seattle (-4.4%), posted a quarterly price decline of less than half of Atlanta’s. Rounding out the top five were Memphis (-3.1%), Tucson (-2.8%) and San Diego (-2.6%).

The REO saturation rate for the highest performing markets averaged 21.6 percent, down from 22.8 percent last month, while the saturation rate in the lowest performing markets averaged 30.0 percent, unchanged from last month. Overall, the nationwide REO saturation rate was 24.6 percent.

“Although many of the nation’s major markets are experiencing no significant movement in prices, there are still several micro markets that are underperforming the overall market due to high levels of REO saturation. As lien holders continue to process their foreclosures and the flow of REOs continue to come to market, it will be critical for industry participants to ensure they understand the micro economic nature of specific markets,” added Villacorta.

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

Source:
Clear Capital

FILL OUT THE FORM
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WE VERIFY & TRANSMIT TO LENDERS
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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.
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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
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December 19, 2011 (Jeff Alan)

U.S. home prices in the current rolling quarter ending in November posted a modest increase of 0.3 percent after declining by 0.6 percent last month with the smaller gains and losses in housing prices indicating that the market may finally be starting to stabilize according to Clear Capital’s Home Data Index (HDI).

Year-over-year, home prices were still 2.2 percent lower, marking the 14th 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 (1.2%), followed by the Northeast (0.5%) and the South (0.2%), while the West (-0.8%) 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 (-4.7%), followed by the Midwest (-3.0%), and the South (-1.6%), with the Northeast (0.4%) being the only region to post an increase.

Comparing home prices over the last six months produces a much more stable picture of the housing market with three of the four regions posting price gains, led by the Midwest (2.1%), the Northeast (0.7%). and the South (0.3%). The West (-2.2%) once again posted the worse performance.

Dr. Alex Villacorta, Director of Research and Analytics at Clear Capital said, “The overall market stability in this month’s report gives me hope that housing markets are settling after a very turbulent two years. With only a one percent drop in national home prices since January and virtually no change in prices over the last six months, strong evidence suggests the big swings that many market participants are accustomed to could become a thing of the past.”

All of the cities in the 15 highest performing markets posted quarterly gains but with a considerable loss in momentum signaling a softening of prices coming into the fall quarters. The Washington D.C. area (4.8%) was the top performer, followed by Hartford (3.6%), Denver (3.4%), Orlando (3.4%) and Houston (3.2%).

All of the cities in the 15 lowest performing markets posted a decline in the last quarter with Atlanta (-9.7%) jumping to the top of the list, posting a quarterly price loss three times greater than the previous month (-3.0%). The next lowest performing market, Seattle (-4.4%), posted a quarterly price decline of less than half of Atlanta’s. Rounding out the top five were Memphis (-3.1%), Tucson (-2.8%) and San Diego (-2.6%).

The REO saturation rate for the highest performing markets averaged 21.6 percent, down from 22.8 percent last month, while the saturation rate in the lowest performing markets averaged 30.0 percent, unchanged from last month. Overall, the nationwide REO saturation rate was 24.6 percent.

“Although many of the nation’s major markets are experiencing no significant movement in prices, there are still several micro markets that are underperforming the overall market due to high levels of REO saturation. As lien holders continue to process their foreclosures and the flow of REOs continue to come to market, it will be critical for industry participants to ensure they understand the micro economic nature of specific markets,” 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.