Existing Home Sales Increase in October In October, existing home sales rose by 10.1% and are now 23.5% above the year-ago rate. Sales were at a seasonally adjusted annual rate of 6.10 million, up from 5.54% in September and a 4.94 million pace a year ago. Existing...
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Yearly House Prices Decline 19%
House Prices keep Declining The Case-Shiller Index of the housing industry showed a 19% year-over-year decline. The Case-Shiller report shows many regions have revisited 2002 prices. Some geographic areas are seeing prices going back to those in the year 2000.Real...
14% Decline in Home Prices!
14% Decline in Home Prices! The National Association of Realtors reported median home prices fell 14% year over year. This is a cumulative 26% decline from the peak in the third quarter of 2005. It has been nearly three-and-a-half years since the 2005 peak in prices....
Housing Price Drop May Be Worse than Great Depression
Economist Robert Shiller (of the Case-Shiller Housing Index) announced his findings concerning housing price trends. He predicts the nationwide average price decline for homes will likely exceed the 30% decline that America experienced in the 1930’s Great Depression....
Housing Prices Fall 15.4%
The Case-Shiller Home Price Index came out today, and it showed that home prices fell 15.4% in the second quarter nationwide, and this just puts more pressure on anyone falling behind in mortgage payments. A homeowner that has a loan worth more than their mortgage...
Foreclosures still Increasing
Increasing Foreclosure Rates Foreclosures were up 57% from March of last year. Approximately 1 in 538 houses in the U.S. are in foreclosure. Nevada has the worst rate with 1 in 139 homes in foreclosure. California has a 1 in 204 foreclosure rate.Nevertheless, since...
Real Estate Price Slump
The New York Times reported today that State tax revenues are declining as a result of the slowdown in real estate home sales. This lowers real estate transfer tax revenues as well as income taxes. The article stated: New home sales nationally fell in February to the...
