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Real Estate (Good!) News

Screen-shot-2010-01-18-at-10.31.38-AM“Good news” and “real estate” don’t often go hand-in-hand these days, but we’re please to report that we have some good real estate news, indeed.  From buying trends to home prices to foreclosure rates, things are looking up.


Foreclosures fall to pre-housing bust levels Yes, in In June of 2013, foreclosure filings dropped to their lowest level since before the housing bust. “The number of foreclosure filings have plunged so fast — down 14% since May — that the housing market could be back to pre-mortgage meltdown levels before the end of the year, according to Daren Blomquist, a vice president at RealtyTrac.”


Total foreclosure filings, including notices of default, scheduled auctions and bank repossessions, dropped to 127,790 in June, down 35% over the past 12 months, according to RealtyTrac. Overall, filings have hit their lowest monthly level since December 2006. (via CNN Money)

  130710155705-foreclosures-071013-620xa U.S. home prices jumped nearly 12% in June 2013 Why is that good? Because it means demand is up. U.S. home prices surged 11.9 percent in June from a year earlier, reflecting stronger demand amid a tight supply of homes for sale. Steady price increases are the latest sign of a recovery in the housing market. Stable job gains and still-low mortgage rates have encouraged more Americans to buy homes.


Sales of existing homes and building permits are both rising. Realtors in a number of cities report bidding wars breaking out because too few homes are on the market. This latest Realtors’ report showed sales were 10.2% above the same month last year, marking 20 straight months of gains.

 

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