All the Real Estate News That’s Fit to RE-Print™
Welcome to our weekly edition of Hot Real Estate Investment News.
All the Real Estate News That's Fit to RE-Print
The big news this week: Home prices increased 2.5% in June 2012 compared to June 2011, non-distressed sales is at its highest level since August 2008, and national foreclosure activity dropped 3% in July from June and down 10% since July 2011, BUT foreclosure starts increased annually for the third straight month.
Here are the details about real estate investing related news items that caught our attention this past week.
We hope this service helps you stay up-to-date with your real estate investment strategies and inspires some profitable real estate deals for you.
CoreLogic June Home Price Index Rises 2.5%
On Tuesday, CoreLogic® released its June Home Price Index (HPI®) report. It reads in part:
“Home prices nationwide, including distressed sales, increased on a year-over-year basis by 2.5 percent in June 2012 compared to June 2011. On a month-over-month basis, including distressed sales, home prices increased by 1.3 percent in June 2012 compared to May 2012*. The June 2012 figures mark the fourth consecutive increase in home prices nationally on both a year-over-year and month-over-month basis.”
See also:
CoreLogic Reports Prices Up, but Pace Might Slow in 2nd Half of 2012
“Taking the monthly increase and applying its own season-adjustment, Capital Economics reported prices actually decreased 0.1 percent month-over-month in June.”
CoreLogic Releases August MarketPulse Report
—Housing Market Showing Positive Signs Despite Overall Sluggish Economic Expectations—
On Thursday, CoreLogic® released its August MarketPulse report, which provides insight into the current and future health of the U.S. economy with emphasis on housing and mortgage metrics.
Key findings in the August MarketPulse Report include:
- This fall, the housing market may avoid the slide that has occurred each of the last three years because of an improving balance between supply and demand, declining REO sale shares and a slowly declining foreclosure inventory.
- A lower likelihood of foreclosures flooding the housing market is beneficial because the market is more likely to absorb the inventory without dramatic changes in price.
- The current share of non-distressed sales is at its highest level since August 2008, positively impacting home prices, and is a sign of real improvement in the housing market.
For a complete copy visit: Corelogic’s August Market Pulse Report
Foreclosure Starts Increase for Third Straight Month in July, Bank Repossessions Continue Decline
RealtyTrac® released its U.S. Foreclosure Market Report™ for July 2012, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — decreased 3 percent from the previous month and decreased 10 percent from July 2011
High-level findings from the report:
- Overall foreclosure activity decreased on a year-over-year basis for the 22nd consecutive month in July, dropping to its lowest level since April.
- The decline in overall foreclosure activity was driven primarily by a 21 percent year-over-year decrease in bank repossessions, or REOs.
- U.S. foreclosure starts in July increased 6 percent on a year-over-year basis, the third straight month with an annual increase in foreclosure starts following 27 consecutive months of decreasing foreclosure starts on an annual basis.
See also:
Foreclosures fall again in July
“Foreclosure filings nationwide fell for the 22nd straight month in July, but a spike in new foreclosures indicates that the housing market still has a long way to go before it works through its backlog of problem loans.” [Emphasis added.]
Foreclosure Activity Down with Fewer Bank Repossessions: RealtyTrac
“Overall, foreclosure activity declined year-over-year and month-over-month, but foreclosure starts told a different story in July, according to RealtyTrac’s foreclosure market report.” [Emphasis added.]