Cooling Housing Market

July 21, 2006 – 11:45 am

Across the country the market seems to weakening. Some areas are reporting inventory up to five times the year-earlier level. This is forcing sellers across the nation to slash prices. In most area it is a return to normalcy but in some areas like Orlando and Phoenix, things are expected to get worse before the get better. Ivy Zelman, a housing analyst, has referred to Phoenix as "total bloodbath." Orlando has reported the biggest surge in inventory and home prices are down between 3-7 percent from just a year ago. Some homebuilders are offering buyer agent commissions up to 10 percent. William Wheaton, a housing economist at MIT, thinks we could be in for five to ten years of flat home prices.

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Home Sale Prices Up

December 3, 2005 – 9:27 pm

Average U.S. Home Prices jump again in 3rd quarter

The Office of Federal Housing Enterprise Oversight (OFHEO) , the agency that regulates mortgage finance companies Fannie Mae and Freddie Mac, released figures this week that showed that housing prices in the United States jumped over 12% in the third quarter over 2004. OFHEO’s chief economist, Patrick Lawler, said in a statement issued with the report that the rate of increase in home prices in the third quarter "were extremely strong".

This report comes on the heels of a report earlier this year from OFHEO that showed the largest U.S. house price increase in more than 25 years for the second quarter of 2005. In that report, Lawler said, "There is no evidence here of prices topping out." contrary to reports of an eminent housing bubble burst.

According to these reports, now is still a good time for home sellers looking to lock-in gains from the five year run on real estate prices.

See Also

  • Average Home Prices Up 12%
    Pace slows from previous quarter, but increase still strong
  • HousingTracker
    Housing data (including median asking price and housing inventory) for cities/metros across the United States.
By admin | Posted in home prices, home sellers, house, housing | Comments (0)