Although the housing market has shown a healthy recovery over the past two years, unnecessarily restrictive mortgage lending standards are preventing some financially qualified buyers from reaching their dreams, especially singles and first-time buyers, according to an annual study released today.

The 2013 National Association of Realtors® Profile of Home Buyers and Sellers continues a long-running series of large national NAR surveys evaluating the demographics, preferences, motivations, plans and experiences of recent home buyers and seller….

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Positive Housing Data

Sep 24, 2013

Two reports show a strong housing market.  Both  S&P/Case Shiller and The Federal Housing and Finance Agency (FHFA) House Price Index show month to month and year to year rising home values in July.

The Case-Shiller Home Price index report shows values riding in all 20 cities it tracks.  Month to month values increasing 1.8% and year to year appreciation of 12.4%.  Read more by clicking here..

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The FHFA report shows that values of home financed with conforming mortgages were up by 1% onth to month in July and 8.8% year to year.

fhfa-9-24

 

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corelogic-hpi-9-3Sep 3 2013, 10:45AM
Read full Article from Mortgage News Daily
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Home prices jumped by 1.8 percent nationally during the month of July.   CoreLogic reported that values on its Home Price Index (HPI) which excludes sales of distressed homes, rose in every state during the month, and when distressed prices are included only one state, Delaware, posted a drop in its HPI.

The annual rate of increase on the HPI is 12.4 percent and is the 17th consecutive month in which the year-over-year index values have increased on a national basis.  When distressed sales (short sales and lender-owned real estate or ORE) are included the annual appreciation is 11.4 percent and the increase from June was 1.7 percent.

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National Home Prices Nearing Pre-Crash Levels
Aug 26 2013, 11:11AM – From Mortgage News Daily

Home prices keep edging closer to pre-crash price levels and today’s Home Price Index report from Lender Processing Services (LPS) indicates that national prices are now back within 15.2 percent of that peak.  The index for June rose to $229,000 from 226,000 in May, an increase of 1.2 percent and is up 6.9 percent from the end of last year.  The peak, in June 2006, was $270,000.

LPS used its loan-level databases and June 2013 residential real estate transactions to conduct a repeat sales analysis of home prices.  The LPS HPI represents the price of non-distressed sales by taking into account price discounts for bank-owned real estate (REO) and short sales.

States with the biggest month-over-month appreciation were Nevada, up 2.4 percent, Florida, 1.7 percent, and California and Illinois at 1.6 percent each.  Other states with increases exceeding one percent in a month were Delaware, Georgia, Utah, North Dakota, Colorado, and Arizona.

 

 

All states showed some appreciation from May to June but the smallest gains were in Nebraska at 0.4 percent, Alaska at 0.5 percent, and Iowa at 0.6 percent.  Click Here for Full Article

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August 15, 2013 – Builder confidence in the market for newly built, single-family homes rose three points to 59 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for August, released today. This fourth consecutive monthly gain brings the index to its highest level in nearly eight years.   Read Full Article

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Mid-year residential real estate data from the Central Virginia Regional Multiple Listing Service:

Median Sales Price Year-to-Year:

richmondcitymedianprice1sth2013

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7/22/13 Wall Street Journal

” Over the past two months, mortgage rates have jumped by a full percentage point; this has only happened twice since 1994, an article in The Wall Street Journal said.

However, rates could rise to 6% or prices could rise an additional 20% before housing would become unaffordable relative to historical levels, the article noted.

But even though rates are low historically, they still will put a larger dent in borrowers’ budgets. A $200,000 home with a 10% down payment soared more than $100 a month, while the cost of a $450,000 home increased by $250, the article explained.  ”

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(Reuters) – Home prices racked up their biggest annual gain in more than seven years in May, with more increases expected through the summer months as the sector continues to mend, data analysis firm CoreLogic said on Tuesday.

Prices rose 2.6 percent from April and were up 12.2 percent compared to May last year, the biggest year-over-year increase since February 2006, CoreLogic (CLGX.N) said.

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