Tag Archives: Home Prices

Over the next 12 months, Americans expect median home prices to rise 3.87 percent, according to the latest data from the Federal Reserve Bank of New York. That figure is down slightly from the New York Fed's June survey, marking the second consecutive month of declining price change expectations. The decline is in line with Fannie Mae's most recent National Housing Survey, which showed a decline in expected price growth to 2.3 percent.

Of the nearly 350 metro markets survey in the National Association of Home Builders (NAHB)/First American Leading Markets Index (LMI), the group reports 56 have returned to or exceeded their previous normal levels of economic and housing activity based on housing permits, home prices, and employment. While unchanged from NAHB's June survey, the latest index reflects a yearly increase of seven markets.

The highest home price gains for July 2014 were in the Midwest and South, and those gains are more likely a result of job growth as opposed to other market influences, according to the Trulia Price Monitor. Average month-over-month gains for the top 100 U.S. markets were 0.8 percent for July after a 1.2 percent increase for June, the company reported.

As the U.S housing market climbs back to healthy, a third of it is less affordable now than it's been all century, according to RealtyTrac. The firm's latest housing affordability report, released Thursday, found that 34 percent of the 1,200 U.S. counties it surveyed are at their least affordable, on average, since 2000.

In its latest National Housing Survey, Fannie Mae found housing sentiment among U.S. consumers was down in July compared to recent months, with fewer expecting continued growth. According to the findings, only 42 percent of Americans surveyed said they expect home prices to keep rising over the next year, continuing a downward trend that started in April.

In its June National Housing Trend Report, Realtor.com reported the national housing market continued to gain some strength as summer got under way, though the rate of recovery dimmed somewhat. While current and seasonal trends would suggest home sales will see a slowdown in the coming months, national indicators are masking some of the activity happening in individual markets, says Jonathan Smoke, chief economist for Realtor.com.

Single-family home sales in the Constitution State totaled 2,799 in June, according to the Warren Group, marking a 5.8 percent increase from a year ago. It was the fourth time so far this year that home sales have performed better annually. Throughout the entire second quarter, sales totaled 6,679, down nearly 5 percent compared to the year-ago period.

As home prices continue to recover nationwide, a new study from the National Association of Home Builders (NAHB) suggests even a small increase in new home prices can leave hundreds of thousands of prospective buyers out in the cold.

In response to recent bearish housing outlooks, Altos Research recently released its own decidedly more positive forecast. "It's scary to be a contrarian, particularly if you're contrarian and bullish. In retrospect, this position is the most fun—if you're right," said Michael Simonsen, co-founder and CEO of Altos.

The Texas Association of Realtors released Friday its 2014-Q2 Texas Quarterly Housing Report, revealing a 5.9 percent quarterly pickup in home inventory to a months' supply of 3.60—level with where supply figures were at the end of 2013. Despite the quarter-over-quarter increase—the first since 2011, the association reports—inventory remained down 12.2 percent compared to a year ago, holding back growth in home sales.