Home values dropped for the sixth straight month in March 2011, according to the Federal Home Finance Agency’s Home Price Index. The Home Price Index is a government-sponsored home value tracker.
New Home Sales Increase For The Second Straight Month
Sales of newly-built homes surprised Wall Street, jumping 7 percent to an seasonally-adjusted, annualized 323,000 units last month.
Distressed Homes Now Selling At A 20 Percent Discount
The housing market recovery stalled last month. At least temporarily.
Building Permits Fade Faster Than Expected
Single-family housing starts fell 5 percent as compared to March 2011, and 30 percent as compared to April one year ago.
Home Builders Seeing More Sales Today; Fewer Sales Tomorrow
Home builder confidence can’t shake its range, according to the National Association of Home Builders. The group’s monthly Housing Market Index put May’s builder confidence reading at a level of 16.
Foreclosure Filings Fall To 40-Month Low
Based on data from foreclosure-tracking firm RealtyTrac, foreclosure filings nationwide fell below 220,000 in April 2011, a 9 percent decrease from March and the lowest total in 40 months.
Foreclosures And Short Sales Distorting “Home Price Trackers”
The Federal Home Finance Agency data had home values down 1.6 percent nationwide in February, on average, marking the fourth straight month in which prices fell.
Pending Home Sales Point To Seller’s Market This Summer
The National Association of REALTORS® Pending Home Sales Index rose for the third straight month last month.
New Home Supply Falls To 16-Year Low
Based on joint research from the Census Bureau and HUD, 300,000 new, single-family homes were sold on a seasonally-adjusted, annualized basis in March. It’s an 11 percent improvement from February.
Demand Is Rising, Supplies Are Falling : Home Prices Set To Rise?
Home resales rose 4 percent last month, according to the March Existing Home Sales report. A total of 5.1 million homes were sold on an annualized, seasonally-adjusted basis.