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.  ”

Watch Video.

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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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” the most recent findings on economic attitudes are encouraging:…

  • Fifteen percent are upbeat on the current economic situation and optimistic, double the average since 2008.
  • Thirty-eight percent expect their home value to increase, compared with an average of 23 percent since 2008.
  • The average expected home price rise over the next year jumped to 3.1 percent, compared with 1.6 percent in the March survey. It’s the best number since October 2007.
  • Forty-one percent see higher wages in the next 12 months, the highest reading since 200″

 

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Mortgage Daily news reports home Prices up nationally:

“U.S. house prices rose 0.7 percent from January to February according to data released this morning by the Federal Housing Finance Agency (FHFA).  FHFA said this was the fifth consecutive time its seasonally adjusted Home Price Index (HPI) had risen”

National Home Price Recovery Strong; Regions Mixed

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soldsignPending Home Sales Soar Despite Rough Winter

Rough winter weather across much of the nation at the start of this year apparently did not keep home buyers away. Contracts to buy existing homes in January rose to the highest reading since April 2010.  Read Article.

 

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