All the Real Estate News That’s Fit to RE-Print™
Welcome to our weekly edition of Real Estate Investing News This Week. Here’s the best of this week’s real estate news:
- Home prices are up 11.9%
- Mortgage delinquency rates continue to decline
- Cash deals comprised 30% of home sales in June
We hope these real estate news items help you stay up-to-date with your real estate investing strategies and inspire some profitable real estate deals for you.
––Analysis Projects Year-Over-Year Growth of 12.5 Percent in July––
On Tuesday, Corelogic released its June CoreLogic Home Price Index report.
Home prices nationwide, including distressed sales, increased 11.9 percent on a year-over-year basis in June 2013 compared to June 2012.
This change represents the 16th consecutive monthly increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 1.9 percent in June 2013 compared to May 2013.
Get the June 2013 report here: Home Price Index Report
If you want to buy a house in Nevada you better bring cash.
By CNN Money’s Les Christie:
“In June, 58% of the sales in the state were made in all-cash, according to a report by RealtyTrac.
But it’s not just Nevada. All-cash deals in Florida comprised 57% of home sales during the month; in the state of New York, it was 51%, and in Vermont, a whopping 80%.
In markets like these, lingering foreclosures and depressed home prices are attracting private equity firms and other investors looking to buy before home prices go much higher, RealtyTrac said….
Nationwide, cash deals comprised 30% of home sales in June, down from 31% a year earlier, RealtyTrac reported.”
By Billy Crosby:
“TransUnion said mortgage delinquency rates in the second quarter continued their unprecedented decline and are on pace to be below 4% for the first time since 2008.
The credit-information company said the mortgage delinquency rate–which gauges the number of borrowers 60 or more days past due–stands at 4.09%, down 26% from a year earlier and 10% from the prior quarter.
‘This marks the third quarter in a row where we have posted all-time highs in terms of delinquency improvement and that is very welcome news for both borrowers and their lenders,’ said Tim Martin, group vice president of U.S. Housing in TransUnion’s financial services business unit.”
Late Payments on US Mortgages Falls to Lowest Level in 5 Years
“Homeowners are doing a better job of making timely mortgage payments, a trend that brought down the national late-payment rate on home loans in the second quarter to the lowest level in five years.”