Nationwide, home values rose 0.2% year-over-year to a median $149,300 during the second quarter, the first annual increase since 2007, real estate listing site Zillow reported. Prices were up 2.1% from the first quarter.
Coming soon to a neighborhood near you: A late-summer wave of short sales, as homeowners, mortgage bankers and potential buyers all race to settlement on bargain-priced homes that are worth less than the mortgages written on them.
The Phoenix metro housing market is seeing a rise in home prices and a decline in the number of houses on the market, putting the area ahead of most other U.S. cities on the road to recovery, according to real estate experts. Economists say the upward trend in the Phoenix area may serve as a beacon of hope for other cities across the nation that suffered when the housing bubble burst.
Mortgage rates are at record lows, with 30-year fixed-rate mortgages—the most popular choice among home buyers—averaging in the 3 percent range for the last several weeks.
Home prices rose in April for the first time in seven months, though they are still near record lows, according to a report out Tuesday.
Average home prices increased 1.3% in April in 20 major markets, according to the S&P/Case-Shiller home price index. This comes after prices hit new post-bubble lows in March.
Some home buyers fall for common pitfalls when purchasing a home. How can you help make sure your clients don’t fall for one? Credit.com recently featured some of the biggest mistakes home buyers often make. Their list included:
Shadow inventory dropped nearly 15 percent year-over-year in April and is at about a four-month supply—reaching its lowest level in nearly three years, real estate data provider CoreLogic reports.
The newest problem for the slowly improving housing market isn’t a shortage of serious buyers, it’s a shortage of good homes.
The housing market surged in April, with home affordability at record levels.
Sales hit 4.62 million homes during the month on an annualized basis, a rise of 3.4% compared with a month earlier and up 10% from April 2011, according to the National Association of Realtors.
Buying a home may never get any cheaper than this. Several housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market.