US home prices rise 10.9 pct., most since 2006

By Qiong (June) Zhang36 Comments

U.S. home prices jumped 10.9% in March compared with a year ago, the most since April 2006. A growing number of buyers are bidding on a tight supply of homes, driving prices higher and helping the housing market recover.

The Standard & Poor’s/Case-Shiller home price index released Tuesday also showed that all 20 cities measured by the report posted year-over-year gains for the third straight month.

And prices rose in 15 cities in March from February. That’s up from only 11 in the previous month. The monthly figures aren’t seasonally adjusted and may reflect the beginning of the spring buying season.

Prices rose in Phoenix by 22.5% over the past 12 months, the biggest gain among cities. It was followed by San Francisco (22.2%) and Las Vegas (20.6%).

New York City had the smallest year-over-year increase at 2.6%, followed by Cleveland at 4.8%.

The supply of available homes jumped in April, but was still 14% below its level a year earlier.

Prices have been increasing steadily since last summer. Still, they are about 29% below the peak reached in July 2006.


US rate on 30-year mortgages rises to 3.59 pct.

By Qiong (June) Zhang37 Comments

Average rates on fixed mortgages rose for the third straight week, hitting their highest levels since mid-March.

Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year loan increased to 3.59% this week. That’s up from 3.51 % last week. And it is above the rate of 3.31% reached in November, the lowest on records dating to 1971.

The average on the 15-year loan jumped to 2.77%. That’s up from 2.69% last week. The record low of 2.56% was hit on May 2.

The average rate on a five-year adjustable-rate mortgage edged up to 2.63 percent from 2.62 percent.

Mortgage rates rose sharply this week because they tend to track the yield on the 10-year Treasury note.

详细历史记录请参看:Rates History


US new home sales up 2.3 percent in April

By Qiong (June) Zhang37 Comments

U.S. sales of new homes rose in April and nearly matched the fastest pace in five years, driving the median price to a record high.

New-home sales increased 2.3% in April from March to a seasonally adjusted annual rate of 454,000, the Commerce Department said Thursday. That’s only slightly below January’s pace of 458,000, which was the fastest since July 2008.

Steady job creation and near-record-low mortgage rates are spurring more Americans to buy homes. Sales have risen 29% over the past year.

The median sales price jumped 8.3% in April from March to $271,600. That’s highest on records going back to 1993.

The supply of new homes for sale increased 3.3% in April to 156,000. That’s the most in 18 months.

Still, builders are growing more confident in the housing recovery and have started to ramp up construction. In April, they requested permits to build homes at fastest pace in nearly five years.

Sales of new homes increased 10.8% in the West in April and 3% in the South. They fell 16.7% in the Northeast and 4.8% in the Midwest.

The  sales of previously owned homes rose in April to a seasonally adjusted annual rate of 4.97 million, the highest level in 3 1/2 years.

Prices for re-sales are also rising, although they remain well below peak levels reached before the housing bubble burst.


Home prices rise, seen helping economic recovery

By Qiong (June) Zhang43 Comments

Home prices rose in February at their fastest rate in almost seven years.

The S&P/Case Shiller index of 20 metropolitan areas released on Tuesday showed single-family home prices rose 9.3% in February from a year earlier.

Still, there appears to be a growing risk that weakness in the labor market and broader economy could dial down the housing recovery’s strength.

Other recent data has pointed to less steam building in the housing market, and the Commerce Department said on Tuesday that the U.S. home ownership rate slipped to 65.2% in the first quarter, a 17-year low.

Still, rising home prices could give construction firms more incentive to build new homes and increase inventories. A dearth of homes on the market has held back sales.

The S&P/Case Shiller index showed prices gained 1.2% in February on a seasonally adjusted basis from January, topping forecasts for a  0.9 % gain.

Following a spectacular collapse that fueled the 2007-09 recession, the housing sector appears to have turned a corner and prices have been rising since February 2012.


Existing home sales edge down, prices rise

By Qiong (June) Zhang38 Comments

Home resales edged downward in March, a pause in the housing market recovery that has helped boost the economy.

The National Association of Realtors said on Monday that existing home sales edged down 0.6% last month to a seasonally adjusted annual rate of 4.92 million units.

The nation’s inventory of existing homes for sale rose 1.6% during the month to 1.93 million. That represented 4.7 month’s supply at March’s sales pace, up from 4.6 in February.

Nationwide, the median price for a home resale rose to $184,300 in March, up 11.8% from a year earlier, the biggest increase since November 2005. The limited supply of available properties is pushing up home values.

The share of distressed sales, which also include those where the sales price was below the amount owed on the home, accounted for 21% of home resales last month, down from 25% a month earlier. It was the lowest since the NAR began tracking the number in October 2008 as the foreclosure crisis escalated.


Rising Costs Hammer Home Builder Confidence

By Qiong (June) Zhang44 Comments

Confidence among U.S. home builders fell in April, as concerns over lack of developed land lots and rising costs for building materials weighed heavily. A monthly industry index fell two points, the third consecutive month of declining builder sentiment in single family homes, after solid gains throughout much of 2012.

“Supply chains for building materials, developed lots and skilled workers will take some time to re-establish themselves following the recession, and in the meantime builders are feeling squeezed by higher costs and limited availability issues,” explained National Association of Home Builders Chief Economist David Crowe.

The NAHB’s monthly confidence index now stands at 42, up from 24 in April of 2012.  Sales expectations over the next six months posted a three point gain to its highest level since February of 2007.

Regionally, home builder confidence was unchanged in the Northeast and fell in the other three regions with the South seeing the deepest decline. Builders in the West have been particularly hard hit by lack of land and labor, as a heavy investor presence in the distressed market has pushed other buyers to new construction, creating unexpected high demand.


Existing home sales touch three-year high

By Qiong (June) Zhang38 Comments

Home resales hit a 3 year high in February and prices jumped, adding to signs of an acceleration in the housing market recovery, even though the supply of properties on the market increased.

The National Association of Realtors said  existing home sales increased 0.8% to an annual rate of 4.98 million units last month, the highest level since November 2009. The January sales pace was revised up a 4.94 million units from the previously reported 4.92 million units.

Homes took about 74 days to sell in February, according to the median estimate, down from 97 days from a year ago.

Last month, the inventory of unsold homes on the market increased 9.6% to 1.94 million. That represented a 4.7 months’ supply at February’s sales pace, up from 4.3 months in January, the first increase since April.

The median home sales price in February rose 11.6% from a year ago to $173,6000.

Distressed properties, foreclosures and short sales, which typically occur at deep discounts, accounted for a quarter of overall sales last month, up from 23% in January.

Investors bought 22% of homes in February, with first-time buyers accounting for 30% of the transactions.


US new home sales fall in February

By Qiong (June) Zhang43 Comments

The pace of new home sales in the United States slipped in February but remains much better than a year ago, the Commerce Department reported Tuesday.

Sales of new single-family houses slowed to an annual rate of 411,000, compared to a revised January rate of 431,000.

But February’s sales were still 12.3% up from February 2012, as the housing market has strengthened overall, thanks to pent-up demand and low interest rates.

Analysts say the market is being held back in part by tight supply. The supply of new homes on the market rose slightly in February but remained limited at 4.4 months’ worth, 152,000 units.

The median sales price was slightly firmer at $246,800, compared to a median price in February 2012 of $239,900.


US housing starts rise, permits at 4 1/2-year high

By Qiong (June) Zhang36 Comments

U.S. builders started more homes in February and permits for future construction rose at the fastest pace in 4 1/2 years.

The Commerce Department said Tuesday that builders broke ground on houses and apartments last month at a seasonally adjusted annual rate of 917,000. That’s up from 910,000 in January. And it’s the second-fastest pace since June 2008, behind December’s rate of 982,000.

Single-family home construction increased to an annual rate of 618,000, the most in 4 1/2 years. Apartment construction also ticked up, to 285,000.

The gains are likely to grow even faster in the coming months. Building permits, a sign of future construction, increased 4.6% to 946,000. That was also the most since June 2008, just a few months into the Great Recession.

Overall housing starts have risen 28% higher over the past 12 months. The starts jumped in the Northeast and Midwest, while they fell in the South and West. Permits rose in the South, West and Midwest, falling only in the Northeast.

The number of previously occupied homes for sale has fallen to its lowest level in 13 years.

The survey noted that the outlook for sales over the next six months rose to its highest level in more than six years.


Housing Foreclosures Start to ‘Flare-Up’ Again

By Qiong (June) Zhang43 Comments;_ylt=Al1pw.i0etXee4ntiAFwHq6iuYdG;_ylu=X3oDMTQ4bjRhc2UzBG1pdANDTkJDIFRvcCBTdG9yaWVzBHBrZwMzZmRkNWE5Yi1hNzIwLTMxZGYtOWY0Ni00NzQ1YjU4NmViMzkEcG9zAzEEc2VjA01lZGlhQkxpc3RNaXhlZExQQ0FUZW1wBHZlcgM4ODAzZDA5MC04Y2NhLTExZTItYTJjNS1kNDQxODA0NDNlN2M-;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

Banks are repossessing fewer homes, in fact the fewest since March of 2007, but in some states that may be about to change, according to a new report from RealtyTrac, an online foreclosure data and sale firm.

Bank repossessions, the foreclosure starts, which are the first stage of the process, jumped 10% in February from the previous month. This after falling for three consecutive months.

The jump in new foreclosures is not just in the formerly hardest hit states either. Foreclosure starts jumped 319% in Maryland from a year ago, 172% in Washington, 139% in New York, and 70% in New Jersey. All of these states have large backlogs of delinquent mortgages due to new state laws governing foreclosures and/or the fact that they require a judge in the process.

While price gains help recovery, if they happen too fast, they price would-be buyers and investors out of the market, which slows sales again. Price recovery has many believing that housing is suddenly not just back on its feet again, but surging ahead-much of the price recovery is based on lack of inventory of homes for sale, which in turn is due to foreclosure delays, which as we now see, can turn very quickly.


Pending Home Sales Soar Despite Rough Winter

By Qiong (June) Zhang36 Comments

Contracts to buy existing homes in January rose a strong 4.5% from the previous month, according to the National Association of Realtors, which also revised December’s numbers down. That beats expectations of a 1.8% gain. Volume is now 9.5% above January 2012 and is the highest reading since April 2010.

The existing home market is faced with a lack of supply of homes for sale, as nearly half of home sales last year were of distressed properties.

Banks have been slow to put foreclosed homes up for sale recently, possibly waiting for prices to improve further. Prices are rising fast, up nearly 7%  in December from a year ago in the nation’s 20 largest real estate markets, according to the S&P/Case Shiller Index.

Regionally, the Realtors’ Pending Home Sales Index in the West rose 0.1% in January but is 1.5% below a year ago. Supplies of homes for sale are most limited in the West, where investors have been buying distressed properties in bulk. In the Northeast the index edged up 8.2% in January and is 10.5% higher than January 2012. In the Midwest the index increased 4.5% and is 17.7% above a year ago. Pending home sales in the South rose 5.9% and are 11.3% higher January 2012.


Home Prices Soar on Short Supply, Investor Demand

By Qiong (June) Zhang43 Comments

Prices today are rising fast because supplies of homes for sale are so low. Both new and existing homes are running near four month supplies.

For new homes, builders just aren’t able to start fast enough, due to labor and land restraints.

For existing homes, there are fewer distressed properties for sale, a segment that has driven the market into recovery, and organic homeowners are either unwilling to list their homes for fear of selling at the bottom, or unable to list because they are still underwater on their mortgages.

Prices for damaged foreclosures are at their lowest level in over 4 years, due to reduced demand by current and first-time home buyers. Investors have increased their purchase share of these properties, accounting for 65.4% of sales, up from 58% a year ago, according to the survey. Since investors largely buy in bulk, they get bigger discounts.

While home prices continue to surge, they are still 29% below their peak in 2006.

With the all-important spring season knocking on housing’s door, price gains will depend on how many more homes are listed for sale. Demand is already waiting.


U.S. housing starts fall 8.5% in January

By Qiong (June) Zhang10 Comments

The U.S. Department of Commerce reported that construction on new U.S. homes fell 8.5% in January to a seasonally adjusted annual rate of 890,000.

Economists polled by MarketWatch had expected January’s starts to decline to a rate of 914,000 from an original December estimate of 954,000, on Wednesday the government revised December’s starts rate to 973,000.

The housing starts data are volatile from month to month. Looking longer term, starts have increased 24% from a year ago, but remain below a bubble peak of almost 2.3 million in 2006.

Although overall construction on new U.S. homes fell sharply in January, growth continued on a year-over-year basis. Starts for single-family homes increased 20% from the same period in the prior year. Starts for single-family homes ticked up 0.8% to a rate of 613,000, the highest rate since July 2008.

The government also reported Wednesday that building permits, a sign of future demand, rose 1.8% in January to a rate of 925,000 — the highest rate since June 2008. Permits for single-family homes rose 1.9% to a rate of 584,000.

By region, starts dropped 50% in the Midwest and 35% in the Northeast. Meanwhile, starts rose 17% in the West and 4% in the South.


Why Home Builders Won’t Drop New Home Prices

By Qiong (June) Zhang42 Comments

“New home prices have dramatically outpaced existing home prices, and the reason for that is because you have a very constructed mortgage market today. The only people who can buy are people who are very well off, so that’s created a positive mix shift,” noted Barclay’s analyst Stephen Kim in an interview on CNBC’s

Right now the divide between new and existing home prices is wider than ever. The average price of an existing home in December was $231,400, according to the National Association of Realtors, while the U.S. Commerce Department reported the average price of a newly built home stood at $304,000.

“New home prices are advancing faster than existing home prices because demand has increased and, as Kim did admit, the mortgage filter is allowing only higher income or at least higher net worth people through the application net, and they are purchasing higher valued homes. But that is true of existing purchases as well,” argues David Crowe, chief economist for the NAHB.

“Lumber and other building material prices have risen very rapidly recently. Shortages of lots and labor supply are beginning to show up, and I expect as new household formations begin to recover, that shortage will expand to more markets. The way to get more resources back into the housing market is to raise the price paid, i.e., wages and land prices,” says Crowe.

“Builder will have to raise prices to compensate for their efforts, risks and, at least for a short time, being the only ones left,” adds Crowe.


Mortgage Mess Still Mires Housing Recovery

By Qiong (June) Zhang38 Comments

The mortgage rates are rising, now at their highest level since September of last, before the Federal Reserve announced it would buy more agency mortgage-backed securities in order to drive rates down. Last week applications to refinance fell 6% from the previous week, according to the Mortgage Bankers Association.

Mortgage applications to purchase a home dropped more dramatically than did refinances, down 10% from the previous week. While one week does not a trend make, rising mortgage rates, coupled with severe inventory shortages, are not the mix needed for a healthy spring housing market.

Homes selling days on market are shrinking across the nation, but only because supplies are so low. It’s not just the former boom to bust to boom markets.

Rising mortgage rates and tight credit standards keep first time-home buyers out, while falling inventories make it more difficult for existing home buyers to move up. The housing market is therefore still largely in the hands of all-cash investors, looking for distressed properties to buy and then rent out. Ironically, perhaps for now, more distressed properties coming to market will be what keeps home sales afloat.


New Home Sales Slip: Jobs Are the Key to the Housing Recovery, Says Chris Whalen

By Qiong (June) Zhang42 Comments

Sales of new homes fell 7.3% in December to a seasonally adjusted rate of 369,000, the Commerce Department reported Friday. But the government agency did revise November sales up 22,000 to a pace of 398,000 sales, which was the highest level of sales since April 2010. And, the $3,000-plus rise in the median prices of new homes sales was also a positive sign for the improving housing market.

“I think we’re off the bottom in a number of states, particularly the sand states like Arizona and California,” Chris Whalen tells The Daily Ticker. Whalen is executive vice president of Carrington Investment Services, a Connecticut-based firm that works in residential mortgage special servicing and origination. “And you’re seeing a lot of investors in the market, which is helping prices go up.”

While investors may be driving these types of price moves, they may not be the key to keep prices moving up.

“The key issue is the extent to which we can get homeowners to get financing and go out and buy homes, because that is what will make these price increases sustainable and real,” says Whalen.

Whalen argues jobs are the driver of housing, and unemployment may not be low enough and wage growth may not be high enough to drive this kind of homeowner demand.

Another roadblock to prospective homebuyers are the new consumers protections. Whalen says new mortgage rules from the Consumer Financial Protection Bureau may require fully documented loans, which is a good thing. But he notes certain consumers may not be able to qualify for a mortgage with a government guarantee.


Existing Home Sales Slip in December, But Housing Remains Strong

By Qiong (June) Zhang44 Comments

December existing homes sales slowed by 1% from November to a seasonally adjusted annual rate of 4.94 million, according to the National Association of Realtors (NAR). But sales are were up 12.8% in December from 2011, and the total number of sales in 2012 rose to the highest level in five years.

The annual price for existing homes also jumped to the highest level since 2005. The median price for all existing housing types was $180,800 in December. That’s 11.5% more than the same period in 2011.

To help make sense of the numbers, Barry Habib, VP and chief market strategist at Residential Finance Corporation, joined The Daily Ticker’s Lauren Lyster in the accompanying interview.

“I see some very bright spots here,” he says. “A 11% rise in the median home price year-over-year is very strong and we’ve seen this consistently throughout 2012 and it looks like we have a lot of strength going into 2013, especially highlighted by the levels of inventory.”

To his point, total housing inventory in December fell by 8.5% to 1.82 million existing homes for sale, according to NAR, or the lowest level of housing supply since May 2005.

“If there are fewer homes on the market and more people who want to purchase them, especially at these rates … it pushes home prices higher,” says Habib .

While the markets hit hardest during the housing crash will likely rebound the most, Habib forecasts at least a 5% rise in home prices across the board.

“The housing market does look strong, at least for the next three or four years,” he says.


New home sales climb to highest rate since April 2010

By Qiong (June) Zhang42 Comments

New single-family home sales accelerated in November to the fastest pace in 2 1/2 years and median sales price jumped from the same month in 2011, signs that the U.S. housing recovery is gaining some steam.

The Commerce Department said on Thursday sales climbed 4.4% last month to a seasonally adjusted 377,000-unit annual rate.

The annual sales pace for November was the quickest since April 2010.

The median home price of a new home rose to $246,200, up 14.9% from the same month in 2011.

The pace of new home sales is roughly a quarter of the all-time high clocked in July 2005 when a housing bubble was still inflating. Shortly thereafter, the bubble began to deflate, helping trigger the 2007-09 recession, which was the deepest downturn since the Great Depression.


Seattle area sees surge in new homes

By Qiong (June) Zhang37 Comments

Seattle-area builders are starting to build houses again at a robust rate, though still far below the pre-bust years.

After a long, recession-induced hiatus, Seattle-area builders are starting to build houses again.

It’s another facet of the local real-estate market’s modest recovery in 2012. Sales volume is up, in part because of record-low interest rates. Prices have bounced back from last winter’s post-bust lows.

New-home construction is on a pace this year for its best showing since 2007. Builders and analysts expect that surge, too, will continue into the new year.

Through October, local governments in King County had issued about 3,300 building permits for new houses.That’s up 36% from 2011 — and up a whopping 99% 2009, when new construction hit bottom.


US home sales jump to highest level in 3 years

By Qiong (June) Zhang40 Comments

U.S. sales of previously occupied homes jumped to their highest level in three years last month, bolstered by steady job gains and record-low mortgage rates (Rates History).

The National Association of Realtors said Thursday that sales rose 5.9% to a seasonally adjusted annual rate of 5.04 million in November. That’s up from 4.76 million in October.

Previously occupied home sales are on track for their best year in five years. November’s sales were the highest since November 2009. Excluding that month, last month’s sales were the highest since July 2007.

Sales are up 14.5% from a year ago. Prices are also rising, which encourages more potential buyers to come off the sidelines and purchase homes.

In addition, the excess supply of homes that built up during the housing bubble has finally thinned out. The number of previously occupied homes available for sale fell to a 10-year low in October. The supply of new homes is also near its lowest level since 1963.

The pace of home construction slipped in November, but it was still nearly 22% higher than a year earlier. Builders are on track this year to start work on the most homes in four years.


US builders boost spending 1.4 percent in October

By Qiong (June) Zhang35 Comments

U.S. builders increased their spending on construction projects in October.

The Commerce Department said Monday that construction spending rose 1.4% in October. It was the largest gain since a 1.7%  increase in May.

Housing construction spending jumped 3% in October.

Sales of new homes fell slightly in October, dragged lower by steep declines in the Northeast partly related to Superstorm Sandy. New-home sales were still 17% higher in October than the same month a year ago.

From July through September, residential construction grew at an annual rate of 14.2%. Housing construction is on track to contribute to economic growth this year – the first time that’s happened in the five years since the housing bubble burst.


号外: 30年固定利率再次改写历史纪录

By Qiong (June) Zhang35 Comments

根据Freddie Mac每周平均利率统计,30年固定利率再次降到有史以来的最低点-3.31%,刷新了上周才创造的3.34%的历史最低纪录。



详细历史记录请参看:Rates History


Steady U.S. housing recovery is boosting economy

By Qiong (June) Zhang41 Comments

From purchases and prices to builder sentiment and construction, the U.S. housing market is making consistent gains.

The latest evidence came in reports Monday that sales of previously occupied homes rose solidly in October and that builders are more confident than at any other time in 6 1/2 years.

New-home sales and home-price indexes have reached multi-year highs.

Helping drive the housing rebound is growing confidence among builders. An index of builder sentiment rose to 46 this month, up from 41 in October. It was the highest reading since May 2006.

A second report Monday said sales of previously occupied homes are near 5-year highs, excluding temporary spikes in 2009 and 2010 when a homebuyer tax credit boosted purchases. Sales rose 2.1% in October.

Sales are nearly 11% higher than they were a year ago.

A key factor fueling the gains is a gradually improving economy, which has increased the number of people looking for homes. At the same time, fewer homes are available for sale. The low supply is helping push up prices.

In addition, mortgage rates have hit all-time lows. And rents are rising, making the purchase of a single-family home or condominium more attractive.

In September, builders broke ground for new homes at the fastest pace in more than 4 years.

The clearest sign of a better housing market may be the increase in prices. A measure of U.S. prices jumped 5%  in September compared with a year ago. That was the largest year-over-year increase since July 2006.


US new home starts jump to fastest pace in 4 years

By Qiong (June) Zhang46 Comments

U.S. builders started construction last month on the most homes and apartments since July 2008, more evidence that the housing recovery is gaining momentum.

The Commerce Department said Tuesday that builders broke ground on homes in October at a seasonally adjusted annual rate of 894,000. That’s a 3.6% gain from September.

Single-family home construction dipped 0.2% to an annual rate of 594,000, down from a four-year high in the previous month.

Applications for building permits, a sign of future construction, fell 2.7% to 866,000, after jumping 12% in September to a four-year high. Still, permit applications to build single-family homes rose to their highest level since July 2008.

Sales of previously occupied homes rose 2.1% to 4.79 million in October, the National Association of Realtors said. Sales are near their highest level in five years, excluding temporary spikes in 2009 and 2010 when a homebuyer tax credit boosted purchases.

In addition, mortgage rates have hit all-time lows. And rents are rising, making the purchase of a single-family home or condominium more attractive.



By Qiong (June) Zhang41 Comments

根据Freddie Mac每周平均利率统计,30年固定利率降到了有史以来的最低点-3.34%,刷新了几周前刚创下的3.36%的历史最低纪录。这是自1971年以来的最低利率。


详细历史记录请参看:Rates History



By Qiong (June) Zhang11 Comments


Commerce Department星期三说,9月份新房销售上升了5.7%,经季节调整后的年率为389,000,是自2010年四月以来的最高年率。

新屋销售自从去年以来上升了27.1%。 同时,9月份的新房销售也实现了今年二月份以来的最强增长。但是新屋销售仍然低于健康水平。




US housing construction jumps to 4-year high

By Qiong (June) Zhang46 Comments

U.S. builders started construction on homes in September at the fastest rate since July 2008.

The Commerce Department said Wednesday that home construction rose 15% last month. Single-family construction rose 11% to the fastest rate in 4  years. Apartment building increased 25.1%.

Applications for building permits, a sign of future construction, jumped nearly 12%, also the highest since July 2008.

Record-low mortgage rates, stable price increases and a limited supply of previously occupied homes have made newly built homes more attractive to buyers.

Sales of new homes were up nearly 28%  in August compared with the same month last year.


US foreclosure filings hit 5-year low in September

By Qiong (June) Zhang32 Comments

U.S. foreclosure filings dropped to a five-year low in September as fewer homes were on track to be seized by lenders.

On a national level, overall foreclosure filings last month – including home repossessions – fell 7 percent from August and 16 percent from September 2011. There were 180,427 foreclosure filings reported for September, the fewest since July 2007 in the midst the housing market bust.

Foreclosure starts declined in September on an annual basis in 31 states, with the biggest drops in California, Arizona, Michigan, Georgia and Texas.

Of the 19 states in which foreclosure starts rose in September, those with the largest annual increases were New Jersey, Pennsylvania, New York, Washington state and Florida.

Between January and September, banks completed foreclosures on 505,585 homes. At that pace, the country is on track to end the year with about 675,000 completed foreclosures, down from around 800,000 last year, according to Daren Blomquist, a vice president at RealtyTrac.


号外: 30年固定利率改写历史最低纪录

By Qiong (June) Zhang47 Comments

根据Freddie Mac每周平均利率统计,30年固定利率达到了有史以来的最低点-3.36%,刷新了上周才创造的3。40%的历史最低纪录。



详细历史记录请参看:Rates History


Contracts to buy US homes fell slightly in August

By Qiong (June) Zhang36 Comments

The number of Americans who signed contracts to buy previously occupied homes fell in August from a two-year high in July.

The National Association of Realtors said Thursday that its index of sales agreements dropped 2.6 percent last month to 99.2. In July, the index rose to 101.9. That was the highest level since April 2010, when the market benefited from a federal home-buying tax credit.

Sales have been boosted by ultra-low mortgage rates. The average rate on the 30-year fixed mortgage fell to a new record low this week of 3.40 percent. The average rate has been below 4 percent all year.

详细历史记录请参看:Rates History

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