2013 West Virginia Housing Market

West Virginia led all states in year-over-year home price increases in August of 2012. According to CoreLogic, a real estate information firm, West Virginia ranked first with an 8.6 percent increase in home prices. The state was followed by Wyoming at 3.6 percent, and North Dakota at 3.5 percent. The news, said West Virginia broker John Kilroy, "adds further credence to the notion that the housing recovery for Berkeley and Jefferson County, … [Read more...]

Housing Index Shows Upward Trend

By Mike Colpitts Home prices declined an average of less than one-percent in the U.S. on a year to year basis through the end of March, according to a heavily watched housing price index indicating an upward trend for the marketplace. The CoreLogic index showed that prices were down 0.6% from one year ago, including distressed properties, which are foreclosures and bank assisted short sales. The index monitors 100 of the nation’s largest … [Read more...]

Home Prices Forecast Higher

By Mike Colpitts Home prices in a larger number of cities are forecast to inflate in value in 2012 as many U.S. cities make inroads towards a housing recovery. Signs of progress are developing in a growing number of U.S. states, including hard hit Florida, Michigan and Mississippi. Improving conditions in many cities are attributed to growing job creation and higher prices being paid for some commodities, spurring home sales and higher … [Read more...]

2012 West Virginia Housing Market

West Virginia has known hard times for generations so the current state of the U.S. economy is nothing new to those who make their home in West Virginia, which has one of the highest rates of poverty in the U.S. and perhaps the most dilapidated housing in the country. But a positive development has emerged as newcomers, especially retirees move to the state for its affordable housing. While the nation’s hardest hit real estate markets suffer … [Read more...]

Record High Crop Prices Inflate Home Values

By Mike Colpitts Record high prices farmers are being paid for crops in the Mid-West are pressuring home prices, and are forecast to inflate home values as the real estate collapse moves closer to an end for part of the U.S. in 2012, according to the new Housing Predictor annual forecast. In all, a total of 15 states will witness at least some cities with inflating home prices, despite the horrific foreclosure crisis and ailing economy in … [Read more...]

Real Estate Recovery Hard to Fathom

By Kevin Chiu Sometimes it's hard to fathom. But there isn't going to be a full-fledged recovery from this real estate crash for many years to come. For some reason a lot of people want to believe that things will somehow mercifully get better—and get better fast – like over night. Some areas of the country are more fortunate than others. West Virginia has seen hard times for years and they’re seeing home prices rise. Kansas and Iowa are … [Read more...]

Homeownership Drops by Largest Amount Since Great Depression

By Jeanne Roberts It’s probably no surprise that the number of individuals owning homes has experienced its biggest drop since the Great Depression, an epoch usually defined as the decade between 1929 and 1939. The figures are from the U.S. Census Bureau, and show that the rate of homeownership fell to 65.1% in April 2010, or 1.1% lower than it was a decade earlier. This is compared to ownership levels of around 70% in 2005, which means a … [Read more...]

Home Price Index Shows Six Month Drop

By Mike Colpitts Home prices dropped for six straight months in the U.S., declining by 5.7% on average in January compared to a year earlier, despite the federal governments home buyer tax credit, according to Core Logic. The real estate research firm gathers mortgage data for the lending industry. The drop represented a 1% higher loss in average home values from 2009 levels. The rate was narrowly similar to the Housing Predictor average … [Read more...]

2011 West Virginia Housing Market

Despite near record low mortgage rates, home sales are soft in West Virginia, which is suffering through the real estate crash with little marked improvement from the federal home buyer tax credit. The incentive proved to do little to aid West Virginia housing markets in the long run as the Obama administration struggles to adopt a real plan to aid the housing market. Even with its ailing economy and high unemployment, West Virginia isn’t … [Read more...]

2010 West Virginia Housing Market

From the shambles of being one of the two worst economies in the nation, West Virginia is pulling out of its slump. The state's economy grew at three and a half times the national rate in 2008 and housing markets are bracing for a long sought after recovery. Home prices didn't hit double-digit rates of inflation in West Virginia, and that has turned out to be the state's biggest saving grace. West Virginia also has the second lowest number of … [Read more...]