Housing Trends: Cash and Distressed Sales Update November 2016
The Cash Sales Share Was 32.4 Percent in November 2016 and 14 Percentage Points Below Its Peak Level The cash sales share was 32.4 percent in November 2016 The cash sales share was 14.2 percentage points below the peak level reached in January 2011 The distressed sales share fell 4.3 percentage points year over year […]
Mortgage Performance: Purchase Mortgages, High LTVs May Up Fraud Risk in 2017
2016 Ends With Increase in National Fraud Index Mortgage fraud has been relatively low since strong lending controls were spurred in the aftermath of the financial crisis. But there are trends we expect to emerge in 2017 that may change that outlook, and the level of risk, significantly. At the end of the fourth quarter, […]
Housing Trends: SoCal Caps 2016 with Steady Home Price Growth and Modest Sales Gain
Some Areas Appear Modestly “Overvalued” Relative to Incomes Southern California’s housing market closed 2016 with the highest median sale price in nine years, continued steady price growth, slightly higher full-year sales than in 2015, record luxury sales, and lower levels of investor purchases and distressed sales. But inventory remained tight, exacerbating the affordability crunch, and […]
Mortgage Performance: Foreclosure Report Highlights December 2016
Distressed Homes Inventory Drops 19 Percent Year Over Year The December 2016 foreclosure inventory was 78.9 percent below the January 2011 peak. The inventory of mortgages in serious delinquency fell 19.4 percent year over year in December 2016. Judicial foreclosure states are keeping the foreclosure rate above the pre-crisis rate. The national foreclosure inventory – […]
Property Valuation: Wayne County Foreclosures Fall Sharply
Annual Auction Still Visible In National Numbers Each September Wayne County, Mich., experiences a spike in completed foreclosures as a result of an annual auction of tax-delinquent properties. The tax foreclosure process is lengthy (owners of the foreclosed properties are typically delinquent on property taxes for three years) and Michigan state law requires the auction […]
Housing Policy: Notes from The Hill HUD Nominee Confirmation Hearing
Carson Up to Speed on Key Native American Housing Act The Department of Housing and Urban Development (HUD) distributes more than $700 million a year in housing assistance to the nation’s American Indian tribes and administers loan programs that have guaranteed more than $5 billion in mortgage money for Native Americans. The Secretary-designate of HUD […]
Videos: Homeownership Rate in 2016 Was Lowest in 50 Years
63.4% Homeownership Rate in 2016 Was Lowest Since 1966 The erosion of homeownership has been one legacy of the housing boom-and-bust of the last decade. The homeownership rate peaked at 69 percent in 2004, inflated by relatively easy mortgage credit primarily provided by subprime and low/no-doc loan products. The drop in homeownership continued through […]
Videos: Homeownership Rate in 2016 Was Lowest in More Than 50 Years
63.4% Homeownership Rate in 2016 Was Lowest Since 1966 The erosion of homeownership has been one legacy of the housing boom-and-bust of the last decade. The homeownership rate peaked at 69 percent in 2004, inflated by relatively easy mortgage credit primarily provided by subprime and low/no-doc loan products. The drop in homeownership continued through […]
Audio: Home Price Index Audio Clip December 2016
National Home Prices Increased 7.2 Percent Year Over Year in December 2016 Home prices forecast to rise 4.7 percent over the next year. Home prices rose 5.6 percent for full year 2016. Adjusting for inflation, home prices are still 18.6 percent below their peak. Get The Full Report > Read The Latest Blog > […]
Property Valuation: Home Price Index Highlights December 2016
National Home Prices Increased 7.2 Percent Year Over Year in December 2016 Home prices forecast to rise 4.7 percent over the next year. Home prices rose 5.6 percent for full year 2016. Adjusting for inflation, home prices are still 18.6 percent below their peak. National home prices increased 7.2 percent year over year in December […]
