We have highlighted a few of these, but this month has been notable for its negative stories on housing. Here is an updated sample: The housing market may already be in a double dip – New York magazine “This looks like a double-dip [in housing] is pretty much on the way, if not already here,” [...]
Tag Archives | Home prices
Distressed sales continue to drag home values down
Distressed homes have had a significant effect on housing values in the Chicago region, but even homes not distressed are still falling significantly. The chart attached shows the year-over-year percentage change in Chicago-area homes. The blue line shows all homes; the orange line shows only those not subject to a distressed sale. The quarters in [...]
Index shows ‘dramatic drop’ in U.S. home prices
A home price index published by Clear Capital, a real estate valuation firm that serves banks, shows a “sudden and dramatic” drop in home prices over the past two months. The index shows a 5.9% drop in the two months ending October 11. Click on the graph at left to see the index’s latest movement. [...]
Tribune maps distressed zip codes
The graphic in this post appeared in Thursday’s Chicago Tribune (“Distressed homes: homeowners behind on payments,” Sept 30): The article was based on an analysis by John Burns consulting, a highly respected home builder consultant in California, based on CoreLogic data. CoreLogic has access to closing documents for almost all real estate sales in the [...]
Housing ‘stuck’ with high inventory
The national housing market is “stuck” with high levels of inventory and low prices, as potential buyers hold out for even greater deals in the future, concludes a Wall Street Journal article (“Housing: Stuck and Staying Stuck,” Sept. 24). The weak economy is just one reason why buyer psychology remains depressed. The housing market also [...]
No real relationship between mortgage rates and home prices
A writer at the New York Times tries to explain why you get something like this when you chart mortgage rates and home prices: Here is the explanation from Calculated Risk: It is true that low rates make buying more attractive as compared to renting. And that can increase the demand for buying – and [...]
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