Jan 6, 2011

The Sun Setting on Home Prices?

Another video courtesy of "Jim the Realtor". Enjoy the sunset, the ocean view, and the freeway noise. This Southern California home could be yours for more than a few pennies!

Oct 26, 2010

S&P Case-Shiller Housing Price Index - October 26, 2010 Release

S&P/Case-Shiller Home Price Indices - Prices stable today and headed lower tomorrow was the story of the last housing report.  Today, as expected by most analysts, the report points to housing prices heading lower again.
"A disappointing report. Home prices broadly declined in August. Seventeen of the 20 cities and both Composites saw a weakening in year-over-year figures, as compared to July, indicating that the housing market continues to bounce along the recent lows," says David M. Blitzer, Chairman of the Index Committee at Standard & Poor's. Over the last four months both the 10- and 20-City Composites show slowing growth, after sustaining consistent gains since their April 2009 troughs.

"The month-over-month growth rates tell the same story. Fifteen of the 20 MSAs and the two Composites saw a decline in the month of August as compared to July levels. The 10- and 20-City Composites fell 0.1% and 0.2%, respectively. Indeed, the housing market appears to have stabilized at new lows. At this time, it does not seem that any of the markets are hanging on to the temporary momentum caused by the homebuyers' tax credits."

(S&P/Case-Shiller Home Price Indices - 
Click on chart for larger image in same window)

In consideration of current economic conditions and recent housing data that continues to point towards increasing inventory levels in many locales, the downward pricing trend highlighted in this report should continue to be reflected in the next S&P / Case-Shiller release.

Actual S&P/Case-Shiller Housing Price Index PDF report: "Home Prices Increases Slow Down in August According to the S&P/Case-Shiller Home Price Indices".

More to come ...

Oct 25, 2010

CoreLogic: Home Price Index for August 2010

According to the CoreLogic Home Price Index released reflecting August 2010 data, home prices declined 1.5% year over year nationally and values appear to be be trending lower:
"Price declines are geographically expanding as 78 out of the largest 100 metropolitan areas are experiencing declines, up from 58 just one month ago” said Mark Fleming, chief economist for CoreLogic."

12 Month House Price Index Change: Single-family combined series
(Click on chart for larger image in same window)

12 Month House Price Index Change: Single-family combined excluding distressed series.
(Click on chart for larger image in same window.)

From a national perspective, CoreLogic's report continues to paint a grim housing picture and the trending lower numbers point to more housing woes ahead.

Oct 23, 2010

Will the Real Owner Please Stand Up?

It's a three ring foreclosure circus. It would actually be funny if this really didn't impact and negatively affect real people.

When will these institutions every be held accountable for their criminal practices? What a mess!