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Home Prices Climb in August
 Home Prices Climb in August 
Oct 27, 2009 9:03 AM CDT

Home Prices Climb in August

Nearly every major city gets a boost

(Newser) - US home prices rose for the third straight month in August, data released today showed, a key sign for a broad and sustained housing recovery. The S&P/Case-Shiller home price index of 20 major cities climbed 1% from July to a seasonally adjusted reading of 144.5. While prices are...

Home Prices Rise for 3rd Month
 Home Prices Rise for 3rd Month 
Sep 29, 2009 8:48 AM CDT

Home Prices Rise for 3rd Month

Case-Shiller index shows modest 1.6% increase in June

(Newser) - In another sign the housing market is stabilizing, home prices climbed 1.6% in July, the third consecutive month they have risen, according to the S&P Case-Shiller home-price index of 20 major cities. Though they're down 13.3% compared with this time last year, the year-over-year declines still beat...

Dow Up 30 After Rosy Data
 Dow Up 30 After Rosy Data 
MARKETS
Aug 25, 2009 3:21 PM CDT

Dow Up 30 After Rosy Data

(Newser) - Stocks closed with modest advances on strong economic data and a drop in oil prices, the Wall Street Journal reports. Advances in second-quarter home prices and a boost in July consumer confidence propelled stock indices to new 2009 highs shortly after the open, but oil’s $2.32 drop moderated...

By 2011, 48% of Mortgages Will Be Underwater

(Newser) - Nearly half of US homeowners will owe more than their house is worth by 2011, Deutsche Bank analysts said yesterday, predicting that the number of such “underwater” mortgages would nearly double from today’s 26% to 48%. Their report stated that home prices will fall another 14% between now...

May Home Prices Post 1st Gain in 3 Years

(Newser) - May home prices rose month-over-month for the first time in almost three years, according to the S&P Case-Shiller Index, edging up 0.4% from April. That still left them 17% lower than they were a year ago, however, the Wall Street Journal reports, with home prices at around 2003...

Home Sales Take Biggest Jump in 8 Years

(Newser) - New home sales jumped 11% in June, the biggest gain in eight years, the Commerce Department announced today, as the supply fell to its lowest level in more than a decade. With mortgage rates and prices staggeringly low—the median home price fell 12%—buyers came out of the woodwork....

Recession Puts Brakes on Divorces
Recession
Puts Brakes
on Divorces
Jul 13, 2009 12:04 PM CDT

Recession Puts Brakes on Divorces

Would-be exes stay under one roof to avoid real estate losses

(Newser) - A lot of unhappy couples are staying together—or at least staying under one roof—thanks to the recession, the Wall Street Journal reports. Many would-be exes are putting off breakups, unwilling to sell their houses in a down market or unable to afford new ones. Some even continue to...

Get Ready for New Wave of Foreclosures

(Newser) - Another wave of foreclosures is on the way, possibly as early as this summer, threatening to upend a housing market that had begun to stabilize, the LA Times reports. Though loan defaults are up sharply, banks have been delaying foreclosures lately thanks to the Obama administration’s home-stability plan. Now...

Home-Sale Index Skyrockets, Boosting Recovery Hopes

(Newser) - Pending sales of existing US homes soared in April, posting their largest jump since October 2001. Combined with a 3.2% jump in March, the 6.7% increase in April—far more than the forecast 0.5%—suggests a longer-term upward trend, the Wall Street Journal reports. Dipping prices, low...

Home Prices Took Record 19% Dive in January

(Newser) - US home prices sank by 19% in January, the sharpest annual rate on record, and the pace continues to accelerate, the AP reports, but there were a handful of battered metro areas where price declines slowed, according to data released today. The tumble taken by the Standard & Poor's/Case-Shiller index...

Spelling's $150M Mansion Is Priciest US Home for Sale

(Newser) - The mansion that late producer Aaron Spelling built in 1991 is on sale for $150 million, making it the most expensive home for sale in the US, the AP reports. The 56,500-square-foot home, the largest in Los Angeles County, sits on 4.7 acres near the Playboy Mansion. Neither...

New-Home Sales See Surprise Bounce

But prices decline

(Newser) - New-home sales took a surprise upward turn in February, the Commerce Department announced today—the first time sales have increased in seven months. But prices continued to tumble. Single-family home sales were up 4.7%, besting analyst expectations of a 2.9% decline. That still left them down 41.1%...

Monaco Overtakes London On Priciest Homes List

(Newser) - London has tumbled off its perch atop the list of priciest places to buy residential property, the Financial Times reports, allowing Monaco to swoop in and take the crown. Monaco’s top properties now fetch $68,000 per square meter, compared to $38,000 for London and $22,500 for...

Existing Home Sales Jump 5.1%
 Existing Home Sales Jump 5.1% 
Mar 23, 2009 10:00 AM CDT

Existing Home Sales Jump 5.1%

(Newser) - Previously owned home sales took a 5.1% leap in February, to an annual rate of 4.72 million, Bloomberg reports, as a median price down 15.5% year-over-year brought out the bargain hunters. That blindsided analysts, who had expected sales to fall to a 4.45 million annual rate....

Fannie Mae's Task: Sell 65K Homes in Buyer's Market

Unloading homes quickly while maintaining value, Fannie walks tightrope

(Newser) - It’s no secret that for US homeowners, it’s not a seller’s market. But imagine having 65,000 properties to sell. That’s the task ahead of Fannie Mae, NPR reports, as its volume of repossessed homes grows by the day. The guarantor of a third of all...

18% of US Wealth Up in Smoke Last Year

Fed figures show $11 trillion was wiped out Americans' net worth last year

(Newser) - Last year's stock market and housing slumps wiped out nearly a fifth of the wealth of American families, the Wall Street Journal reports. The Federal Reserve announced yesterday that  $11 trillion—more than the output of Britain, Germany and combined—was erased from the net worth of households in 2008,...

US Household Wealth Falls Record $5.1T

Combined five-quarter drop is nearly as big as US GDP for 2008

(Newser) - The wealth of US households fell at a record pace in the last quarter of 2008, as drops in home values and stock prices accelerated, Bloomberg reports. Net worth for households and non-profits fell $5.1 trillion to $51.5 trillion, nearly twice the decline between the second and third...

Housing Rebound Unlikely in '09
 Housing Rebound 
 Unlikely in '09 
Analysis
Mar 7, 2009 10:27 AM CST

Housing Rebound Unlikely in '09

(Newser) - If you’ve been waiting for a housing recovery, keep waiting. This March-June, the season when most homes are typically bought and sold, promises to be the worst since the bubble burst in 2006, the New York Times reports. Some 19 million homes—nearly one of every seven nationwide—are...

Gap Narrows Between Mortgage Payments, Rents

Housing slump prompts shift

(Newser) - During the housing boom, mortgage payments held steady, consistently topping rent levels; now, with the market cratering, they’re returning to historical levels, the Wall Street Journal reports. After-tax mortgage payments averaged about 26% more than rent over the past 18 years; during the boom that figure surged to 66%....

Home Prices Post Record 4th-Quarter Decline

Dropped 18.2% during quarter compared to year ago

(Newser) - Home prices tumbled by the sharpest year-over-year rate on record in the fourth quarter and in December, a widely-watched index shows. The S&P/Case-Shiller US home price index plunged 18.2% from the fourth quarter a year ago, the largest drop in its 21-year history. Prices are now at the...

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