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From the latimes.com: Mortgage rates have risen half a percentage point since setting record lows last fall, and many economists expect them to continue rising for the foreseeable future. The increase, a reaction to the improving economy and housing markets, could...
Hat tip to SD Squatter for sending in this article from the wsj.com: LADERA RANCH, Calif.—Rising home prices have fueled the return of a practice that some blamed for inflating the bubble: house flipping. In California, the number of homes sold in recent months that...
From cnnmoney.com: In a dramatic about-face for the housing market, sellers are now calling the shots. A survey of more than 2,000 Americans found that 33% of the 365 who were searching for a home have been on the hunt for more than a year and many were willing to...
Two posts ago it was suggested that buyers are feeling anxious due to increasing prices, and it is definitely a real concern. But the buyer anxiety is being fed by a number of other reasons too - things that are just as annoying! Other Causes of Buyer Anxiety Few...
JtR reporting from the field about market conditions, and trying to justify one more time why we are due for some frenzy slowdown:
A frequent question is, "How long will it last?". It depends on how long the demand lasts, which at this point appears to be deep and wide. There are sectors of today's buyer pool that are still waiting for their shot: 1. Low-Down-Payment buyers. You can be...
Realtors including myself say that we have "low inventory", but it's not because fewer sellers are listing - it's because the heavy demand is gobbling them up faster, and at higher prices: NSDCC Listings and Sales between Jan 1 and May 15 Year Total Listings Sales Avg...
CoreLogic said that while the data point to continuing price appreciation, the overall national rate of home price increases is projected to decelerate in 2013 from 2012 levels. The CoreLogic Case-Shiller Indexes project a 2.5 percent home price increase in 2013, as...
The last time the market took off, it was for different reasons (easy money, shorter-term thinking, and more move-ups), but the market psychology should be similar this time around - because buyer exhaustion is inevitable. Here is how it looked then - during the first...
How do you know if a house will attract a frenzy? You often see in the MLS remarks the now-standard comments like "this won't last" or "reviewing all offers on Monday"; whose intention is to make you think it's a hot buy. But now that virtually every listing says...
