Investors Home Buying Binge Rages

By Mike Colpitts Investors accounted for almost 1 in 4 home purchases during the month of January, up to 23% of purchases, demonstrating that the home buying binge by investors is controlling a large portion of the U.S. housing market as bargain hungry investors attempt to cash in on deals. The figure was up 2% from December numbers provided by the National Association of Realtors monthly home sales report, but showed that the market is … [Read more...]

Home Prices Fall Almost 5% in 2011

By Mike Colpitts Home prices fell nearly an average of 5% last year as a result of a troubled U.S. economy, decaying consumer sentiment, high unemployment and a foreclosure crisis that is running out of control, according to real estate research firm Core Logic. The company’s December Home Price Index showed an average 4.7% decline in U.S. home prices, which includes foreclosure and bank assisted short sales. The year-end report indicates … [Read more...]

2012 South Dakota Housing Market

While the U.S. housing market is in the shambles in most of the country, South Dakota provides a rare place in Americana. Home values in all of the state are rising and good old conservative lending practices are driving the increase with mortgage interest rates that are the lowest in decades. In Rapid City homes are increasing in value for the second straight year, and the number of homes that are selling is rising for nearly the third year … [Read more...]

Housing Market Bottoms Hit as Home Values Escalate

By Mike Colpitts Following years of hard times, declining home values and a record volume of foreclosures, the housing market is finally hitting the bottom in at least some U.S. cities, and it can’t come soon enough for plenty of others. North Dakota, South Dakota and parts of Texas are booming with oil and natural gas exploration driving many home prices higher. A delayed recovery, however, will be in effect for much of the nation as the … [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...]

Jobs Proposal Boosts Home Prices

By Mike Colpitts The Obama administration's proposal of jobs and spending initiatives would supply much needed aid to the real estate industry, and give the housing market a shot in the arm towards recovery eventually boosting home prices, an analysis of the program has found. Consumers and businesses are concerned about the U.S. economy, which has been ailing since the financial crisis exploded on Wall Street more than three years ago. … [Read more...]

Some Rising Prices Don’t Make a Recovery

By Mike Colpitts Rising home and condominium prices in isolated markets scattered across the U.S. rarely develop into a sudden real estate recovery, but demonstrate the differences of local housing markets. For the first time in years the average prices of homes and condos in Miami moved higher in July, showing that even in downtrodden Miami, once the proverbial epicenter of the real estate crash prices can get so low that somebody comes … [Read more...]

Wealth Effect Impact Leaves U.S. Feeling Poorer

The way people feel about their personal well being in relationship to money is taking a serious hit as the Wealth Effect leaves Americans feeling poorer, a new Housing Predictor survey has found. The impact of the real estate crash is hitting home as housing prices deflate in the majority of the country, and have been for five years in the worst hit regions of the  U.S. The new online poll found that more than 3 out of 4 respondents or 76% … [Read more...]

Mortgage Defaults Surge Higher

By Kevin Chiu Mortgage defaults, the first step homeowners face in the foreclosure process, surged higher during the month of June demonstrating an increase in future anticipated foreclosures growing at the fastest rate in more than a year, according to Lender Processing Services, a real estate data supplier which tracks defaults. The surge in mortgage defaults shows the expected rise in foreclosures may be just months off as the housing … [Read more...]

Home Prices Rising in Dakotas, Alaska, Texas

By Mike Colpitts In places where jobs are more plentiful and workers are in demand local economies are doing much better than the majority of the U.S. and many housing markets are beginning to even see home prices rise. North Dakota, which now produces the fourth largest amount of oil in the country, Alaska and some Texas markets are witnessing home prices rising. The move towards higher housing values isn’t an anomaly in these tough … [Read more...]