WASHINGTON (MarketWatch) — U.S. home prices rose in September for the sixth month, signaling that the housing market is “in the midst of a recovery,” according to the S&P/Case-Shiller home-price index released Tuesday. The S&P/Case-Shiller 20-city composite posted a 0.3% increase in September following a 0.8% gain in August. Home prices are up 3% from the prior year. “We are entering the seasonally weak part of the year. Despite the seasons, housing continues to improve,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices. Among the 20 cities tracked by the index, 13 posted monthly gains in September. Tuesday’s report on home prices is the latest news on a strengthening housing market. There have also been recent gains in new construction, home-builder sentiment, and existing-home sales. However, while persistently low mortgage rates are attracting some buyers, consumers still face tight credit standards, and officials say factors such as tight lending terms will block a powerful housing recovery. Indeed, despite recent gains, prices are about 30% below peak levels in 2006, according to Case-Shiller data
Archive for November, 2012
By Ruth Mantell
Sunday, November 25, 2012
Most Americans think buying a home is still a family’s best investment, but they don’t think now’s a good time to sell.
A new Rasmussen Reports national telephone survey finds that 52% of American Adults say buying a home is the best investment a family can make. Twenty-six percent (26%) disagree, while 22% are not sure. (To see survey question wording, click here.)
The survey of 1,000 American Adults nationwide was conducted on November 17-18, 2012 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence. Fieldwork for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.
Welcome to your November Real Estate Market Update. Our local market is finally transitioning from a buyer’s market to a more traditional and balanced market.
In addition to my update on the overall real estate market, this report contains stories on:
Click on the link below to view the market update.
Vail and Beaver Creek Ski Resorts are now open. Here’s hoping the storm forecast for early next week brings plenty of snow.
Welcome to your November Edwards Real Estate Market Update. As predicted, the Edwards market has gotten red-hot. We have more than doubled sales in 2012 compared to 2011.
Click on the link below for the latest market update, current listings, and 2012 sales.
Market Update, November 2012
Welcome to your November Bachelor Gulch Real Estate Market Update. The recovery continues in our local market. We will see an increase in activity for Bachelor Gulch in 2012 compared to 2011.
In addition to the latest BG real estate stats and trends, the market update contains stories on:
- Warren Buffett makes a huge bet on the US Housing Market
- Absorption Rate drops below 10 months for the overall real estate market in the Valley
Click on the links below to view the market update and the current BG condo and town home listings and 2012 sales.
Beaver Creek opened on Wednesday to a beautiful day. We can use some more snow and a storm is forecast for early next week. Here’s hoping for a dump!
Click on the link below to view the official program book for the upcoming Birds of Prey World Cup Races.
By Ruth Mantell
WASHINGTON (MarketWatch) — Construction on new U.S. homes rose 3.6% in October to a seasonally adjusted annual rate of 894,000, the highest rate since July 2008, the U.S. Department of Commerce reported Tuesday. Due in part to disruptions from Hurricane Sandy, economists polled by MarketWatch had expected a decline in housing starts to a rate of 825,000. However, Hurricane Sandy had a minimal effect because it hit only a small part of the country at the end of the month, government analysts said. By region, starts in October fell 6.5% in the Northeast and 2.5% in the South, while rising 8.9% in the Midwest and 17.2% in the West. Meanwhile, building permits, a sign of future demand, declined 2.7% to a rate of 866,000. Permits for single-family homes rose 2.2% to an annual rate of 562,000 last month, while permits for structures with at least two units fell 10.6%. Starts are up 42% from last year, though the rate remains far below a bubble peak of almost 2.3 million in 2006.