National Association of Realtors Reports Home Prices Stabilizing

pniederman@kentwoodrealestate.com

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National Association of Realtors Reports Home Prices Stabilizing

Monday, May 14th, 2012

The National Association of Realtors (NAR) reported that in the first quarter of 2012, the median existing single-family home price, or final sales price, rose in 74 of the 146 metro areas (51 percent) that the association monitors.

Housing inventory levels have been shrinking across the U.S., leading to bidding wars and modest upward pressure on prices in some areas. The data reinforces a notion already asserted by many economists, real estate agents, and investors that 2012 is More...

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History Colorado Museum Mixes Interactive Exhibits with Treasures from Colorado’s Past

History Colorado, a new state-of-the-art museum that mixes high tech, interactive exhibits with treasures from Colorado’s early days, will hold its grand opening on April 28, 2012.

The Society of Colorado Pioneers, formed in 1866, wanted future generations to remember and celebrate their achievements. The state created the State Historical and Natural History Society in 1879 and gifted it $500 to collect and publicize Colorado’s heritage. The society eventually found office and More...

Rents Keep Rising as Housing Prices Fall

The housing market remains challenging in many parts of the country as home prices fall and foreclosed homes dot numerous neighborhoods. But one group is doing quite well: Landlords.

Rents have been rising up to 2.4 percent in January from a year earlier, according to recent data, not adjusted for inflation, by the Labor Department. With few rental buildings built over the last few years, available units are going fast.

Improved Home Sales, Job Prospects Help DOW Gains at Year End

Positive news on home sales, coupled with improved prospects for job growth, sent stocks higher on Wall Street on December 29th, according an Associated Press article published in the Denver Post on December 30th.

The Dow Jones Industrial Average rose 136 points from the day before. In addition, Standard & Poor’s 500 edged back into the black for 2011 at year’s end.

The number of Americans who signed contracts to buy homes in November rose more than seven percent More...

Homebuyers Enjoy Record Low Interest Rates During Holidays

Freddie Mac recently released the results of its Primary Mortgage Market Survey showing averaged fixed-rate mortgage rates at or near all-time lows, helping keep homebuyer affordability high. The 30-year fixed rate averaged 3.91 percent on December 22nd, a new all-time low from the previous low of 3.94 percent. The 15-year fixed rate matched the previous all-time low of 3.21 percent.

“Rates on 30-year fixed mortgages have been at or below four percent for the past eight weeks More...

Is America’s Housing Market Nearing a Comeback?

There are positive signs that the country’s housing market is nearing a turnaround. In some major metro areas, the market has bottomed out, with both sales and prices on the rise and foreclosures in decline.

Industry observers site a number of reasons, including stronger employment, and government data appears to support the forecast. The Dow Jones U.S. Home Construction Index Fund is up 38 percent, while the S&P 500 is up about 21 percent.

Jobless Claims Fall to Lowest in Seven Months

Bloomberg.com recently reported that the number of Americans filling applications for unemployment benefits fell to the lowest level in seven months. Viewed as a sign of economic recovery by some, jobless claims fell by 10,000 to 390,000 in the week ended November 5th, according to the Labor Department.

The number of people on unemployment benefit rolls decreased, while those getting extended payments rose. According to Bloomberg, waning dismissals pave the way for bigger gains in More...

Construction Hiring Shows Some Strength in September

The Labor Department’s latest job report showed hiring in an industry battered by job losses has gained some ground. According to USAToday, construction firms added 26,000 jobs nationally in September, trailing only health care, professional and business services.

Contractors added 53,000 jobs this year after losing about 150,000 last year and 2 million in the recession. Some construction industry observers said the latest gains could herald at lease a moderate turnaround next More...

Metro Denver’s average home prices rose 2.2 percent in July

Metro Denver’s average home prices rose 2.2 percent in July, according to the Denver Post. The average single-family home sold in July for $298,654, which was up from $292,230 in June. Average condo prices, on the other hand, fell in July to $153,058 from $158,463 in June.

Properties placed under contract fell from 4,761 in June to 4,250 in July. One year ago, July sales volume was 3,808. The report noted that the number of unsold homes on the market is going down. Unsold More...

Housing Market Profile: Denver vs. Other U.S. Cities

People who are looking for a home to purchase can either pay all cash up front or secure a mortgage. Most people must, of course, opt for the latter option, but whether you are a cash buyer or in need of a loan, one thing that should be of paramount importance to you is the stability of housing values in the city and neighborhood you are considering.

Should you need to sell your home in the future, particularly if you must sell it on short notice due to a job change or other More...