From RealTrends.com: Modest improvements in the number of loans curing to current and reductions in total new delinquencies are still overshadowed by a large pool (7.39 million) of non-current and REO loans, according to The Mortgage Monitor report by Lender Processing Services Inc. The report is based on data as of March 2010 month-end.
Marion Skubi
Home Prices Increase Slightly in February
From RealTrends.com: National home prices, including distressed sales, increased by 0.3 percent in February 2010 compared to February 2009, according to First American CoreLogic and its LoanPerformance Home Price Index (HPI). This was an improvement over January’s year-over-year price decline of 0.5 percent. From January to February, U.S. house prices fell 0.2 percent on a seasonally adjusted basis from January to February, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.6 percent decline in January was unchanged. For the 12 months ending in February, U.S. prices fell 3.4 percent. Excluding distressed sales, year-over-year prices increased in February by 0.6 percent–an improvement over the January non-distressed HPI, which fell by 1.1 percent year-over-year.
Prices Stabilizing
From RealTrends.com: According to the February 2010 RPX Monthly Housing Market Report by Radar Logic Incorporated, the data does not indicate that a second nationwide decline in home prices is under way. In fact, trends in home prices and sales activity were more upbeat in February 2010 than they have been at this time of … Read more
Real Estate Slowly Improving
From RealTrends.com: Overall economic activity increased in nearly all parts of the country, with many districts reporting increased activity in residential housing markets, according to the latest edition of the Federal Reserve’s Beige Book.
Leading Indicators Point to Seady Rcovery
By Tali Arbel
NEW YORK – A gauge of future economic activity jumped 1.4 percent in March, the fastest pace of growth in 10 months.
The rise in the Conference Board’s index of leading economic indictors suggests economic growth is likely to continue for the next three to six months.
Economists polled by Thomson Reuters had expected the index to grow 0.9 percent last month.
Markets Starting a Comeback
From RealTrends.com: Good news if you’re selling real estate in some areas of Pennsylvania, South Carolina, Texas, Washington and New York- those markets that could see prices come back within the next few years. Specifically, Pittsburgh, Pennsylvania; Columbia, South Carolina and several metro areas in Texas, Washington and upstate New York may see earlier market comebacks than the rest of the United States, according to a Fiserv analysis.
Credit Issues Slowing Recovery, Execs Say
From RealTrends.com: Availability of credit and the volume of distressed properties on the market continue to put a damper on the real estate recovery, according to a survey of 200 real estate executives by Akerman & Co, a national commercial real estate company. The report found that:
March 2010
March 2010 Sales YTD Avg List Price Avg Sale Price 2009 Sales Value of the Month Las Campanas 6 1,186,500 1,065,500 10 Northwest County 16 666,894 626,906 15 Northeast City*Single Family Homes Only 22 1,014,177 927,046 18 Tesuque 1 200,000 200,000 0 Santa Fe City 260 456,339 426,948 220 Santa Fe County 281 445,150 415,758 229 … Read more
Mortgage Rates Remain Flat
From RealTrends.com: The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.80 percent, up two basis points from 4.78 percent compared to this same time last week. The 30-year fixed mortgage rate rose over the weekend, with a Sunday spike at 4.88 percent, before coming down on Monday.
Foreclosure Activity Slows
From RealTrends.com: Foreclosures decreased 2 percent in February compared to January 2010, according to RealtyTrac’s February 2010 U.S. Foreclosure Market Report. Foreclosure filings were reported on 308,524 U.S. properties during the month, still 6 percent above the level reported in February 2009.