NEW YORK, Tue Oct 2, 2012 – Home prices rose in August as the housing market continued to gain traction, but recent gains could start to wane as the summer comes to an end, data analysis firm CoreLogic said on Tuesday.
CoreLogic’s home price index rose 0.3 percent from July and was up 4.6 percent compared with a year ago. It was the biggest year-over-year increase since July 2006.
Excluding distressed sales, price gains were even larger. Home values rose 1 percent compared with the month before and were up 4.9 percent on a yearly basis.
Homes that have been seized by banks or are in danger of being foreclosed are often sold at significantly reduced prices.
Many economists believe the battered housing market has finally turned a corner this year as prices have stabilized.
Still, the report forecast prices will fall 0.3 percent in September as the traditional summer buying boost wears off. Prices are expected to be up 5 percent compared with a year before.
Stripping out distressed sales, prices are seen up 0.6 percent in September and up 6.3 percent from a year ago.
Of the top 100 statistical areas measured by population, 20 showed year-over-year declines, down from 26 in July.
NEW YORK, Tue Sep 25, 2012 – U.S. home prices rose for a sixth straight month in July in the latest sign of a sustainable housing market recovery, while a jump in consumer confidence this month offered a harbinger that Americans are ready to loosen their spending.
Six years after its collapse, economists believe the housing market has turned a corner.
Two separate reports on Tuesday showed that home prices rose in July, though the gains were not as strong as the previous month. That follows recent data that home resales and groundbreaking on new properties rose in August, while business sentiment among homebuilders hit a more than six-year high this month.
The S&P/Case Shiller composite index of 20 metropolitan areas rose 0.4 percent in July on a seasonally adjusted basis. Economists had expected a gain of 0.9 percent, which would have matched June’s advance. Case Shiller is one of the most closely watched barometers of the U.S. housing market.
On a non-adjusted basis, prices were up 1.6 percent.
The gain in house prices supports the view that “even with the broader economic recovery struggling to gain traction, the housing recovery is sustainable,” wrote Paul Diggle, property economist at Capital Economics.
Housing has regained its footing at the same time as the broader economic recovery has lost traction. The economy grew at a 1.7 percent annual rate in the second quarter, and economists say it is not likely to fare much better in the current quarter.
NEW YORK | Tue Jun 5, 2012 – Home prices climbed in April in a fresh sign of stabilization for the housing market, data analysis firm CoreLogic said on Tuesday.
CoreLogic’s home price index rose 2.2 percent in April from the previous month and gained 1.1 percent from the year before.
Excluding distressed sales, prices jumped 2.6 percent for the month and were up 1.9 percent on a yearly basis. Distressed sales – which include foreclosed homes and properties where the homeowner is behind on payments – are often done at significantly reduced prices.
Prices have improved as the amount of homes available for sale have been whittled down, Anand Nallathambi, chief executive officer of CoreLogic, said in a statement.
“Home prices are responding to a restricted supply that will likely exist for some time to come — an optimistic sign for the future of our industry,” said Nallathambi.
Of the top 100 statistical areas measured by population, 44 showed year-over-year price declines, down from 54 in March.
NEW YORK, Tue May 8, 2012 – Home prices rose in March for the first time since last July, helped by tighter housing inventory, data analysis firm CoreLogic said on Tuesday.
CoreLogic’s home price index gained 0.6 percent from February, but was still down 0.6 percent compared with March a year ago.
Excluding sales of distressed properties, prices climbed 0.9 percent on a yearly basis. Homeowners in danger of foreclosure, or in “distress,” often sell their homes at significantly reduced prices.
“This spring, the housing market is responding to an improving balance between real estate supply and demand, which is causing stabilization in house prices”, Mark Fleming, chief economist at CoreLogic, said in a statement.
Of the top 100 statistical areas measured by population, 57 showed year-over-year declines, down from 65.
The closely watched S&P/Case Shiller index released in late April showed a rise in U.S. single-family home prices in February for the first time in 10 months, with a gain of 0.2 percent on a seasonally adjusted basis.