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Home Prices Jump, but Headwinds Build
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The Zillow index from Zillow Inc., the real estate web site, shows home values increasing by 5.8% in June 2013 over a year ago, and up 2.7% in the first six months of 2013. The Case-Shiller index shows home prices up 12.2% in May from one year ago. Economists say the Case-Shiller index overstates the price increases compares to the Zillow index because it includes foreclosed homes. During a period when foreclosures are slowing as in the past year, this tends to show a faster increase in prices in the Shiller index, with the reverse happening when foreclosures are high. This is because foreclosed homes sell at a large discount. The Zillow index excludes foreclosed homes removing this volatility in the index. Increase in mortgage rates by one percentage point, and future expectations of increases, are likely to keep price gains down in pricier markets of Boston, New York and San Francisco. Inventories are tight in some cities. Dallas, Los Angeles, San Diego, Washington D.C. and Orlando, have less than 3 months supply, according to John Burns Real Estate Consulting. Phoenix, Seattle, Denver less than 2.5 months supply, according to a WSJ quarterly survey of 28 metro areas.
The U.S. housing market in 2010-2013
05/27/2010
According to Karl Case its basically flat in 2010 and quite fragile, with a lot of inventory out there. By 2012 the situation had not changed much, except for Washington D.C. with growth in employment, and a small spurt in 2011 in Phoenix from out of state and Canadian buyers. Prices in Las Vegas and other cities continued to decline and there were fears of more homes being released by banks from foreclosed properties in judicial states such as Florida.
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Housing Rebound Grows as Prices Climb Sharply
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The economic performance of cities: Following the sun
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Home Prices Rise, Producing a Buying Mood
New York Times 05/28/2013
Housing Recovery Increasingly Prices Out First-Time Buyers
Wall Street Journal 07/22/2013
Economic Casualties: 'Missing Households'
Wall Street Journal 07/22/2013
Home Prices Jump, but Headwinds Build
Wall Street Journal 07/31/2013
The Case-Shiller U.S. housing price index by metro area - 2011-2013
05/29/2012
Grouped Articles
A Look at Case-Shiller, by Metro Area
Wall Street Journal 04/30/2013
The economic performance of cities: Following the sun
Economist 05/16/2013
Home Prices Rise, Producing a Buying Mood
New York Times 05/28/2013
Home Prices Jump, but Headwinds Build
Wall Street Journal 07/31/2013
House Prices Rise Again, but the Pace Could Slow
New York Times 12/31/2013
A Look at Case-Shiller by Metro Area
Wall Street Journal 05/29/2012
Short sales helping the U.S. housing market recovery in 2012-2013 with fewer foreclosures
06/23/2010
A shift to short sales by banks and homeowners under water is helping the housing market and prices recover and reducing foreclosures. Banks and homeowners under water realize the cost of foreclosures to property prices can be avoided by short sales with much lower losses.
Grouped Articles
Home Prices Rise, Producing a Buying Mood
New York Times 05/28/2013
Housing Recovery Increasingly Prices Out First-Time Buyers
Wall Street Journal 07/22/2013
Economic Casualties: 'Missing Households'
Wall Street Journal 07/22/2013
Home Prices Jump, but Headwinds Build
Wall Street Journal 07/31/2013
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
Outlook for Home Prices Grows Darker
Wall Street Journal 06/23/2010
U.S. housing prices: 2010-2013
09/05/2010
Grouped Articles
Wall Street Journal 05/02/2013
Housing Rebound Grows as Prices Climb Sharply
Wall Street Journal 05/09/2013
The economic performance of cities: Following the sun
Economist 05/16/2013
Home Prices Rise, Producing a Buying Mood
New York Times 05/28/2013
Home Prices Jump, but Headwinds Build
Wall Street Journal 07/31/2013
In struggling housing market, buyers and sellers are out of sync
Washington Post 09/05/2010
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