More bad news for Republicans...a housing recovery is underway

[SniperFire]

Consumer confidence will fuel the economic recovery.

Thursday, 21 Jun 2012 03:45 PM

AP Poll: 7 Out of 10 Say Economy Heading in Wrong Direction


AP Poll: 7 Out of 10 Say Economy Heading in Wrong Direction

 

[Charles_Main]

What Fools. This is another Artificial Bubble Created by Idiots. As soon as all those suspended Forecloses start going forward this perception of this little bubble will be over.

 

[The Infidel]

Consumer confidence will fuel the economic recovery.

Yep... just as soon as we all know Obama is out..!!







​

 

[SniperFire]

What Fools. This is another Artificial Bubble Created by Idiots. As soon as all those suspended Forecloses start going forward this perception of this little bubble will be over.

This.

 

[tjvh]

I have noticed the number of houses up for sale has been rising where I live. More signs cropping up everywhere. A HUGE shadow inventory. Many of these people are seriously underwater and tried to sell their houses before, then gave up. And none of them are negroes!

While the rate of sales may be climbing, it is nowhere near normal. But barring any other derivative bubble pops, we have most likely finally arrived at the bottom and it is all uphill and sunshine from here.

Cautious optimism.

That doesn't necessarily translate into a positive thing.

It means people feel like the market is moving again, and are putting their houses back on the market. I have tracked the market very closely here for the last 8 years.

Or that they cannot pay their Mortgage.

 

[The Infidel]

What Fools. This is another Artificial Bubble Created by Idiots. As soon as all those suspended Forecloses start going forward this perception of this little bubble will be over.

Unless Obama grants amnesty to mortgage holders and we all get free houses





Can't count anything out with that idiot the Panderer in Chief.

 

[Ernie S.]

Oh shit! He's back.

 

[Chris]

PHOENIX — Prices for existing homes here and in surrounding areas climbed by 25 percent during the 12-month period that ended in April, pointing to a decisive shift in the market realities of a place where foreclosed signs, abandoned properties and deserted neighborhoods became one of the most enduring symbols of the nation’s crippling real estate bust.

http://www.nytimes.com/2012/06/21/u...ml?ref=standardpoorscaseshillerhomepriceindex

 

[g5000]

That doesn't necessarily translate into a positive thing.

It means people feel like the market is moving again, and are putting their houses back on the market. I have tracked the market very closely here for the last 8 years.

Or that they cannot pay their Mortgage.

True. Now that the banks have wiggled their way out of the robosigning mess, they have a green light to start foreclosing again. And foreclosures are indeed back on the rise.

It will be several more years before we are back to normal. But first we have to go through another recession next year.

 

[Chris]

Houston-area home sales in May rose to their highest level since the summer of 2008, leaving housing inventory at a five-year low, the Houston Association of Realtors reported today.

Real estate agents sold 6,185 single-family homes last month, an increase of 23.8 percent over May 2011.

With a big uptick in sales of properties priced from $250,000 and up, the median price for single-family home hit a record high, rising 7.1 percent over last year to $168,000. Lower priced foreclosures made up 17.8 percent of all property sales, a share that has steadily declined each month since January when distressed sales hit 27.8 percent.

Home sales rise for 12th straight month | Prime Property | a Chron.com blog

 

[LeftofLeft]

The inventory shortage apparently is helping push up prices following the worst housing slump since the Great Depression, Yun said. The national median price for a home resale rose to $182,600 in May, according to NAR. That's 7.9 percent higher than the same month one year ago, and the highest since June 2010. The last time the American housing market posted three consecutive monthly price increases, year over year, was March to May of 2006.

A report Thursday by the the Federal Housing Finance Agency also showed that U.S. home prices rose 0.8 percent in April from March in a sign of property-market stabilization, agency analysts contend.

Nationally, total housing inventory at the end of May dropped 0.4 percent to 2.49 million existing homes available for sale, NAR reported. That represents a 6.6-month supply of available homes at the current sales pace. In April, there was a 6.5-month supply.

Across the country, listed inventory is 20.4 percent lower than a year ago at this time, when a 9.1-month supply existed. Compare that to the peak of the market in July 2007 when unsold inventory hit a record of 4.04 million homes.

Housing market recovery on track, despite bumps - Economy Watch

At 8+ Unemployment, how long will the recovery last?

 

[Duped]

Housing sucks like the rest of the economy - like king obama. He should be king of a grass hut village where his ineptness, and BS wouldn't matter!

 

[Chris]

Last month, resales slipped to a seasonally adjusted annual rate of 4.55 million from 4.62 million in April but were up 9.6% from May of 2011, according to the report.

The median price soared 7.9% to $182,600 from a year ago, marking the third year-over-year gain in a row – the first trifecta since 2006. Analysts from Credit Suisse called the firming prices – now at the highest level since June 2010 – “the silver lining” of the report.

Sales of single-family homes were 1% lower than April but 10.4% higher than last May. The price for such properties spiked 7.7% from 2011 to $182,900.

The report, which also factors in town homes, condominiums and co-ops, blamed the dip from April on tight supply of properties instead of on softening demand. The inventory of listed homes for sale is 20.4% smaller than a year ago, according to the Realtors association.

Resales fall in May but prices of existing homes rise, says NAR - latimes.com

 

[The Infidel]

Houston-area home sales in May rose to their highest level since the summer of 2008, leaving housing inventory at a five-year low, the Houston Association of Realtors reported today.

Real estate agents sold 6,185 single-family homes last month, an increase of 23.8 percent over May 2011.

With a big uptick in sales of properties priced from $250,000 and up, the median price for single-family home hit a record high, rising 7.1 percent over last year to $168,000. Lower priced foreclosures made up 17.8 percent of all property sales, a share that has steadily declined each month since January when distressed sales hit 27.8 percent.

Home sales rise for 12th straight month | Prime Property | a Chron.com blog

This might have something to do with all the jobs and manufacturing companies that have moved here to TEXAS from states that have high taxes....

but dont let that stop you from squalking your talking points, because TEXAS is doing just fine in spite of Obama

 

[Chris]

Continuing its shift into a seller’s market, the Austin metro area saw a 25 percent increase in sales of existing homes in May, while the median price rose 10 percent, according to new data from the Austin Board of Realtors.

Local real estate agents say several factors are fueling demand, including job growth, newcomers moving in, rising rents and low mortgage rates.

May was the 12th consecutive month of year-over-year sales increases, and the fourth month in a row that median home prices increased compared with the same month the previous year, the Board of Realtors said.

 

[Ernie S.]

PHOENIX — Prices for existing homes here and in surrounding areas climbed by 25 percent during the 12-month period that ended in April, pointing to a decisive shift in the market realities of a place where foreclosed signs, abandoned properties and deserted neighborhoods became one of the most enduring symbols of the nation’s crippling real estate bust.

http://www.nytimes.com/2012/06/21/u...ml?ref=standardpoorscaseshillerhomepriceindex

hmmm red state. Let's look at a solid blue state.

 

[Chris]

The recovery in Florida's housing market and economy continues to grow stronger and stronger," said 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. "Realtors across the state are reporting increased activity - in May, statewide pending sales were up 43.1 percent for existing single-family homes and up 33.4 percent for townhome-condo properties. In some areas, a shortage of for-sale inventory is resulting in multiple bids from buyers and rising price conditions.

Fla.'s Housing Market Continues Positive Track in May 2012 - MarketWatch

 

[Ernie S.]

Houston-area home sales in May rose to their highest level since the summer of 2008, leaving housing inventory at a five-year low, the Houston Association of Realtors reported today.

Real estate agents sold 6,185 single-family homes last month, an increase of 23.8 percent over May 2011.

With a big uptick in sales of properties priced from $250,000 and up, the median price for single-family home hit a record high, rising 7.1 percent over last year to $168,000. Lower priced foreclosures made up 17.8 percent of all property sales, a share that has steadily declined each month since January when distressed sales hit 27.8 percent.

Home sales rise for 12th straight month | Prime Property | a Chron.com blog

Red state.
Blue state:

 

[Chris]

Across the region, home sales rose 25.3 percent, according to the report, as sales around the state recorded their best May since 2007.

The median price of homes sold in the Chicago area in May was $170,000 — up slightly, from $169,900.

The last time prices showed a year-over-year increase was March 2008.


There were 8,276 homes sold in the nine-county Chicago area last month, up from 6,605 in May 2011. Kane, Kendall, DuPage and Will counties all saw increasing sales from January through May, compared to the prior year. “If there was any uncertainty about whether the housing market was going to hold up as we moved deeper into the year, that’s been dispelled,” said Loretta Alonzo, president of the association. of Realtors. “All the indicators seem to reflect a stabilizing housing market, which is a strong contributor to a broader economic recovery.”

http://beaconnews.suntimes.com/life...ut-mixed-message-on-prices-in-fox-valley.html

 

[Chris]

The 10 cities in which home values may rise fastest are :
1.Madera, California (Forecasted 21.5% gain through 2013)
2.Medford, Oregon (Forecasted 21.5% gain through 2013)
3.Yuma, Arizona (Forecasted 21.5% gain through 2013)
4.Corvallis, Oregon (Forecasted 21.5% gain through 2013)
5.Eugene, Oregon (Forecasted 21.5% gain through 2013)
6.Olympia, Washington (Forecasted 21.5% gain through 2013)
7.Boise, Idaho (Forecasted 21.5% gain through 2013)
8.Billings, Montana (Forecasted 21.5% gain through 2013)
9.Lewiston, Idaho (Forecasted 21.5% gain through 2013)
10.Sante Fe, New Mexico (Forecasted 21.5% gain through 2013)

California City Tops List Of 10 Cities Poised For Rising Home Values