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home price posts

Home Prices Log Third-Straight Monthly Increase

Posted Aug 31st 2010 12:30PM by Mark Fightmaster (RSS feed)
Filed under: Economic Data, Housing

During June, home prices increased for the third-straight month, lending a bit of momentum to the bulls Tuesday morning. The problem is that the downward tide of the market was too much for this news to overcome, but taking this news in conjunction with other news could put a positive spin on the day.

The Standard & Poor's/Case-Shiller home price index posted a 1% increase in June compared to May. Comparing the number to a year ago, the index increased 4.2%. On a quarter-over-quarter basis, the second-quarter numbers were 4.8% better than the first quarter. Of the 20 cities surveyed, 17 saw monthly price increases -- Las Vegas was the only city where prices fell.

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Foreclosures Rise 14% in December

Posted Jan 14th 2010 9:00AM by Tom Johansmeyer (RSS feed)
Filed under: Indices, Economic Data, Housing, Recession

Foreclosure filings spiked in December. The 14% increase from the previous month made the first monthly increase since July -- and a hell of a severe way to break the streak. The double-digit increase, reported by RealtyTrac, brought the number of foreclosures to 349,519 in December. In addition to the increase from November, the result is a year-over-year increase of 15% from December 2008. In 2009, 2.8 million foreclosures were filed, up 21% from 2008 and 120% from 2007.

Foreclosure activity reached a monthly high of 361,000 in July, but loan modifications, state legislation extending the foreclosure process and the volume of homes in the foreclosure pipeline had resulted in a gradual decline from that point. From the third quarter to the fourth, foreclosures fell 7%, though the rate was still up 18% from the fourth quarter of 2008. California posted a 17% decline in foreclosures quarter-over-quarter, though it increased 9% from November to December.

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