Home price gains have been slowing and now Bloomberg confirms what we’ve been seeing.
None of the 100 largest U.S. metropolitan areas had increases of more than 20% in residential asking prices last month — the first time in almost two years that’s happened, San Francisco-based Trulia Inc. (TRLA) said in a report. That compares with seven metro areas, including Las Vegas, Phoenix and California’s Silicon Valley, that had such year-over-year gains in May 2013.
“Big price increases mean there are fewer bargains to be found, and the closer prices get to where they should be, the less prices will rise,” Jed Kolko, chief economist at the property-data provider, said in a telephone interview. “I’d be surprised if we see markets getting back to 20%-plus gains. More inventory should be coming onto the market, investor activity is declining and affordability is worsening.”
read more…
http://www.housingwire.com/articles/30263-home-price-gains-over-20-vanish-with-cooling-market
Just back out of hospital in early March for home recovery. Therapist coming today.
Sales fell 5.9% from September and 28.4% from one year ago.
Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…
OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…
The prices of building materials decreased 0.2% in October
Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.
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