All the Real Estate News That’s Fit to RE-Print™
Welcome to our weekly edition of Hot Real Estate Investment News. It’s very positive news again this week:
- Foreclosure starts fell to a six-year low in January
- The Delinquency Rate fell 14% from 2011
- The national median price saw the biggest annual gain in seven years
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.
On Thursday, RealtyTrac® released its U.S. Foreclosure Market Report™ for January 2013, which shows foreclosure filings — default notices, scheduled auctions, and bank repossessions — were reported on 150,864 U.S. properties in January, a decrease of 7 percent from the previous month and down 28 percent from January 2012….
High-level findings from the report:
- U.S. foreclosure starts were down 11 percent from the previous month and down 28 percent from a year ago to the lowest level since June 2006 — a 79-month low.
- U.S. bank repossessions (REO) decreased 5 percent from the previous month and were down 24 percent from January 2012 to the lowest level since February 2008.
“At the end of 2012, the national mortgage delinquency rate fell nearly 14 percent over a one-year period, while more than 80 percent of metropolitan areas saw their rates decline, according to a TransUnion report….”
Esther Cho reports:
“At the end of 2012, the national median price saw the biggest annual gain in seven years, more metros reported price improvements, and housing affordability managed to finish the year at a record level despite rising values, the National Association of Realtors (NAR) reported Monday.
In Q4 2012, median prices for existing single-family homes increased in 133 out of 152 metro areas compared to the same quarter in 2011. In Q4 2011, only 29 metros showed year-over-year improvement, and in Q3 2012, 120 metro areas posted yearly gains.”