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Real EstateThe Real Estate Market Forecast for 2008Existing-Home Sales to Stabilize Before Upturn in Second Half of 2008Little change is expected in existing-home sales over the next few months, before improving notably during the second half of the year, according to the latest forecast by the National Association of Realtors(R)." Continue reading... Bankrate: Inflation Fears Nudge Mortgage Rates HigherFixed mortgage rates moved higher for the second consecutive week, with the average conforming 30-year fixed mortgage rate now at 6.21 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.35 discount and origination points. Continue reading... First American LoanPerformance Releases August 2007 House Price IndexFirst American LoanPerformance, a member of The First American Corporation family of companies and a leader in residential mortgage data and analytics for the mortgage industry and Wall Street, today announced the release of its August 2007 LoanPerformance Home Price Index (HPI). The LoanPerformance HPI provides a comprehensive set of monthly home price indices and median sales prices covering 7,376 ZIP codes, 956 Core Based Statistical Areas (CBSA) and 655 counties in all 50 states and the District of Columbia. The index, which is the most comprehensive available in the industry, is reported five weeks after each month ends. See the report and download a copy... Mixed Results for October 2007 Existing-Home Sales; Mortgages ImprovingSingle-family existing-home sales were stable in October while the condo sector was down, according to the National Association of Realtors. Lingering effects of the credit crunch were a drag on sales but the mortgage situation has improved significantly. Total existing-home sales -- including single-family, townhomes, condominiums and co-ops -- eased by 1.2 percent to a seasonally adjusted annual rate of 4.97 million units in October from a downwardly revised level of 5.03 million in September, and are 20.7 percent below the 6.27 million-unit pace in September 2006. Continue reading... Mortgage problems will continue to hamper pending home salesPending sales of existing- homes activity will be dampened near-term as mortgage disruptions continue to impact the housing market, according to the National Association of Realtors( R). The Pending Home Sales Index*, a forward-looking indicator, fell 6.5 percent to a reading of 85.5 from an upwardly revised 91.4 in July, based on contracts signed in August. It was 21.5 percent below the August 2006 index of 108.9. Continue reading... Tucson, AZ real estate market shows moderation |
