Archive for category Real Estate Data
Case-Shiller: Home Price Index – May 2010
Posted by Kathy Landstra in Home Sellers, Real Estate Data on July 27, 2010
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The monthly Standard & Poor Case-Shiller Home Price Report was released today (July 27th) for May 2010. After two months of declines in February and March, we are now on a new rising trend for April and May. It sure seems that we have created a basis for grwoth from here. You can find more information about the most recent Standard & Poor’s Case-Shiller report at these links: |
Pending Home Sales Slump
Posted by Kathy Landstra in Cincinnati Real Estate, Real Estate Data on July 1, 2010
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The National Assoication of REALTORS® (“NAR”) released the Pending Home Sales Index (“PHSI”) for the month of May on Thursday, July 1st. The index took an expected hard drop when compared to the tax-incentive hyped months of March and April. The PHSI was down 30% over a very strong April and the index was down approximately 15% from last year (May 2009). According to the NAR Press Release: NAR chief economist Lawrence Yun said, “Consumers are rational and they rushed to meet the tax credit eligibility deadline in April. The sharp decline in contract signings in May is a natural result with similar low levels of sales activity anticipated in June.” You can find more news information about the April PHSI at these links: |
Cincinnati – Forbes Most Affordable Cities
Posted by Kathy Landstra in Cincinnati Real Estate, Real Estate Data on June 29, 2010
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Photo courtesy lauren keith via Flickr |
Forbes Magazine released their list of the Most Affordable Cities in the United States. Cincinnati made the list as the Number 10 Most Affordable City to Buy a Home. Regional sister cities Dayton (#9), Louisville (#4), and Indianapolis (#2) were all behind the Number One Most Affordable, Pittsburgh, Pennsylvania. Overall, it was a very strong showing for the midwest. Cincinnati’s ranking specifics included:
If you would like additional information, the Most Affordabile Cities article is at the Forbes site, and the List of Most Affordable Cities in slide show format is also on the Forbes site. |
Cincinnati Home Sales Up in May
Posted by Kathy Landstra in Cincinnati Real Estate, Real Estate Data on June 26, 2010
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The Cincinnati Area Board of Realtors® released their analysis of recent market activity. According to their information local home sales (closings) were up 25.43% in May when compared to May 2009. The press release offers interesting data for the past three months:
Follow this link for the Cincinati Home Sales Press Release (PDF format). |
New Home Sales Drop
Posted by Kathy Landstra in Real Estate Data on June 24, 2010
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Good Morning America offers a “What You Should Know” primer. New home sales dropped almost 33 percent in May, according to a report from the Commerce Department. Mellody Hobson, “Good Morning America’s” personal finance contributor and president of Ariel Investments, appeared on the show this morning to talk about what the dive in home sales means for buyers and sellers. For a look at the Question & Answer with Mellody, link directly to the story by following this link to the Good Morning America website. |
Housing Bubble? No Way!!
Posted by Kathy Landstra in Real Estate Data on June 22, 2010
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The Bubble Meter – A housing bubble blog reminds us of the news from five years ago and what BusinessWeek’s selected experts were saying about the housing market in 2005.
Please click here if you would like to ready the entire BusinessWeek article. |
Monthly Homes Sold Report – May 2010
Posted by Kathy Landstra in Cincinnati Real Estate, Real Estate Data on June 5, 2010
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A big April was backed up by a huge May. The Northeast Cincinnati Analysis for May 2010 shows a 36% increase in the number of homes sold over May 2009. Homes Sold in May 2010 was 121 and in May2009 the number was 89. The increase over April 2010, just thirty days ago was exactly 10%, as 110 homes were sold in Northeast Cincinnati during a big April 2010. The total dollar volume also increased substantially. May 2010 total dollar volume as $38.37 million. May 2009 was $25.75 million. This shows an increase of 49% in total dollar volume. Once again, the May performance is tightly tied to the Federal Tax Credit that expired on April 30th. It will be interesting to track the home sales during our summer and early fall months. |
Pending Home Sales Highest Since October
Posted by Kathy Landstra in Real Estate Data on June 2, 2010
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The National Assoication of REALTORS® (“NAR”) released the Pending Home Sales Index (“PHSI”) for the month of April on Wednesday, June 2nd. The index built on a continued strong upturn in February and March to indicate the strongest PHSI since October of 2009. The PHSI was up 6.0% over a strong March and the index was up more than 22% from last year. According to the NAR Press Release: Lawrence Yun, NAR chief economist, said this second round of surging sales from the tax credit extension looks as strong as the original tax credit. “There were concerns that only a small pool of buyers were left to take advantage of the tax credit extension. But evidently the tax stimulus, combined with improved consumer confidence and low mortgage interest rates, are contributing to surging sales,” he said. “The housing market has to get back on its own feet and now appears to be in a good position to return to sustainable levels even without government stimulus…” You can find more news information about the April PHSI at these links: |
Case-Shiller: Home Price Index – Mar 2010
Posted by Kathy Landstra in Real Estate Data on May 26, 2010
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The monthly Standard & Poor Case-Shiller Home Price Report was released yesterday (May 25th) for March 2010. This is the second consecutive month thtat seasonally adjusted home price indices have declined. The March 20 City composite declined by .07 and February was down .22, so there has been some month-to-month stabilization. With all the activity in April it will be interesting to see what next month’s report looks like. You can find more information about the most recent Standard & Poor’s Case-Shiller report at these links: |
1st Qtr Home Price Growth Rates
Posted by Kathy Landstra in Real Estate Data on May 12, 2010
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The National Association of REALTORS® released information about the growth rates in home prices for the first quarter of 2010 compared to the first quarter of 2010. The Top 10 States (highest home price growth rate) are shown in the chart to the left. Ohio was listed as 39th with a statewide year-over-year home price growth rate of 5.5%. You can access the complete report from the National Association of REALTORS® Press Release. |
Monthly Homes Sold Report – April 2010
Posted by Kathy Landstra in Cincinnati Real Estate, Real Estate Data on May 6, 2010
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We expected to see big numbers in April, and we did. The Northeast Cincinnati Analysis for April 2010 shows a 116% increase in the number of homes sold over April 2009. Homes Sold in April 2010 was 110 and in April 2009 the number was 51. The increase over March 2010, just thirty days ago was 62%, as 68 homes were sold in Northeast Cincinnati in March 2010. The total dollar volume also increased substantially. April 2010 total dollar volume as $28.45 million. April 2009 was $12.70 million. This shows an increase of 124% in total dollar volume, which even outpaces the number of homes sold. All in all, April 2010 was more than twice as active in Northeast Cincinnati than April 2009. Of course, this performance is tightly tied to the Federal Tax Credit that expired on April 30th. It will be interesting to track the home sales over the next three to four months. |
Pending Home Sales Index Up
Posted by Kathy Landstra in Real Estate Data on May 5, 2010
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The National Assoication of REALTORS® (“NAR”) released the Pending Home Sales Index (“PHSI”) for the month of March on Tuesday, May 4th. The index built on a strong February and continued the rise from a dip in January. The PHSI was up 5.3% over a strong February and the index was up more than 21% from last year. According to the NAR Press Release: Lawrence Yun, NAR chief economist, said favorable affordability conditions have been working with the tax credit. “Clearly the home buyer tax credit has helped stabilize the market. In the months immediately following the expiration of the tax credit, we expect measurably lower sales,” he said. “Later in the second half of the year, and into 2011, home sales will likely become self-sustaining if the economy can add jobs at a respectable pace, and from a return of buyer demand as they see home values stabilizing.” You can find more news information about the March PHSI at these links: |
Case-Shiller: Home Price Index – Feb 2010
Posted by Kathy Landstra in Real Estate Data on April 28, 2010
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The monthly Standard & Poor Case-Shiller Home Price Report was released yesterday (April 27th) for February 2010. This is the first time in nine months that the seasonally-adjusted price index declined on a month-to-month basis. It was May of 2009 the last time the Case-Shiller Price Index actually reduced. It’s hard to figure why this changed, but the monthly increases have been very meager, and the bad weather in February may have pushed pricing down. With all the other activity in real estate (tax credit, new home sales and existing home sales numbers), this certainly contributes to our mixed-message outlook. You can find more information about the most recent Standard & Poor’s Case-Shiller report at these links: |
New Home Sales Skyrocket
Posted by Kathy Landstra in Real Estate Data on April 24, 2010
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The Commerce Department said Friday that new-home sales rose in March to a seasonally adjusted annual sales pace of 411,000. That represents the largest month-to-month increase in forty-seven years! It was also the strongest monthly performance since July of 2009. The new home sales figure jumped 27% from a dismal February number to a seasonally adjusted annual sales pace of 411,000 homes. The February reported number was 324,000. The new-home sales report reflects signed contracts to purchase homes rather than completed sales and thus gives economists a feel for how many buyers were out shopping for new homes in a given month. Of course, all reports of the up-tick reference the soon to expire federal tax credit. It will be interesting to see how the real estate market reacts after April 30th. You can find more news about the new home sales figures here: |
Housing starts and permits UP
Posted by Kathy Landstra in Real Estate Data on April 16, 2010
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More economic indicators are becoming positive for the real estate industry. The U.S. Commerce Department announced that housing starts and housing permits were up more than expected in March. According the Commerce Deparment, housing starts were up 1.6%, the highest level since November 2008 — a 17-month high. Compared to March last year starts were up more than 20%. New building permits, which give a sense of future home construction, were up 7.5 percent to a 685,000-unit pace in March, which is the highest level since October 2008, the Commerce Department said. You can find more on the housing starts and building permits by following these links: |
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What is a Home Warranty?
A home warranty is a service contract, normally for one year, which helps protect home owners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear. Coverage is for systems and appliances in good working order at the start of the contract.
What is a Short Sale?
If a home is being sold for below what the current seller owes on the property—and the seller does not have other funds to make up the difference at closing—the sale is considered a short sale. A short sale is different from a foreclosure, which is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure.
