All the Real Estate News That’s Fit to RE-Print™
Welcome to our weekly edition of Hot Real Estate Investment News.
Good news and optimism for the real estate market continues.
The S&P/Case-Shiller Home Price Indices are in, home prices are up for the sixth straight month, October marks the 12th consecutive month of monthly home value increases, and pending home sales surge.
Home building (housing starts) rose to its highest level in more than four years in October. And the nation’s delinquency rate fell in October, decreasing 7.19 percent from last year.
Here are the real estate investing related news items that caught our attention this past week. We hope they help you stay up-to-date with your real estate investment strategies and inspire some profitable real estate deals for you.
According to the S&P/Case-Shiller Home Price Indices
Data through September 2012, released Tuesday by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices showed that home prices continued to rise in the third quarter of 2012.
The national composite was up 3.6% in the third quarter of 2012 versus the third quarter of 2011, and was up 2.2% versus the second quarter of 2012.
Complete details, including charts and graphs, are here…
Case-Shiller Indices Up in September, Momentum Slows
Despite another month of home price improvements, the housing sector stumbled in September as prices fell in five of the 20 cities covered in the monthly Standard & Poor’s/Case-Shiller Home Price Index.
FHFA’s Index Continues to Register Price Increases
The Federal Housing Finance Agency (FHFA) reported home prices continued to climb higher in September, with prices gaining by 0.2 percent from August.
Krista Franks Brock from DSnews.com reports:
“October marks the 12th consecutive month of monthly home value increases, according to Zillow, which reported a 1.1 percent increase over the month.
Home values were up even higher on an annual basis, climbing 4.7 percent over the year and representing the greatest increase since September 2006.”
From CNBC Real Estate Reporter, Diane Olick:
“Buyers are coming back to the housing market in ever greater numbers, as an industry index measuring contracts to purchase existing homes surged 5.2 percent in October from September.
The monthly gauge of pending home sales from the National Association of Realtors was also revised higher in September and is now up 13.2 percent from October of 2011.”
Housing Demand Rose in October
“The housing market saw demand hit its highest level in 2½ years in October, according to an index released Thursday that tracks the number of buyers who signed contracts to purchase previously owned homes.
The figure is the latest sign that the housing market has emerged from a deep funk last year.”
From Esther Cho:
“After suddenly jumping 7.7 percent in September, the nation’s delinquency rate fell in October, according to “first look” data from Lender Processing Services (LPS).
The delinquency rate stood at 7.03 percent in October, a decrease of 4.91 percent from September and 7.19 percent from last year.”
From Thanksgiving Week:
From Chris Isadore at CNNMoney:
The pace of home building rose to its highest level in more than four years in October, according to a Census Bureau report. Builders started construction at an annual pace of 894,000 homes last month, up 3.6% from the pace in September….
More Good News as Housing Starts Surge
October Housing starts rose 3.6% to 894,000, a four year high. Starts were strongest in the West with a 17% gain followed by the Midwest with a 6.5% gain; starts fell in the South (-6.5%) and the Northeast (-2.5%).