Redfin’s monthly report—based on home prices, sales, and inventory across 19 U.S. markets—shows prices rose 4.9 percent in April on a monthly basis and 16.1 percent on a yearly basis. Out of the 19 metros measured in Redfin’s report, 18 reported month-over-month increases in April. “The housing market across the nation was hot again in April. Yes, home prices are up. But the big story in this month’s report is that inventory posted its largest month-over-month increase in over three years,” wrote Redfin blogger Tim Ellis.
According to the CoreLogic Case-Shiller Home Price Indexes, some markets experiencing rapid gains may soon see a slowdown or even reversal of recent trends. As homeowners looking to sell are encouraged by rising prices and as new construction picks up, increased inventory will dampen these rapid increases, according to CoreLogic. Also, rising prices will eventually ward off investors, and “it is not clear if demand from first-time and trade-up buyers will immediately fill the void,” said David Stiff, chief economist for CoreLogic Case-Shiller.
The Conference Board's Leading Economic Index bounces up from March's decline Read More
New home sales have seen a slow recovery since reaching a trough in 2011, but the recent pickup demonstrates how underlying economic fundamentals are improving. read more
Fannie Mae and Dallas-based accounting firm, KPMG agreed to a $153 million settlement with a group of Ohio shareholders last week. read more
The Home Tour Network--a division of Realbiz Media Group, Inc.--announced the expansion of its video on demand real estate network into the greater Atlanta area. read more