Case-Shiller: Home Price Growth Slower in November

Housing Market , ,
Case-Shiller Home Price Index reports for November indicate that home price growth continues to slow. The 20-City Home Price Index dropped by 0.20 percent to November's reading of 4.30 percent year-over-year.  The five cities with highest year-over-year home price growth rates in November were: San Francisco, California 8.90% Miami, Florida 8.60% Las Vegas, Nevada and Dallas, Texas 7.70% Denver, Colorado 7.50% The five cities with the lowest year-over-year growth in home prices were: Cleveland, Ohio 0.60% Washington, DC 1.90% New York, New York and Minneapolis, Minnesota 1.50% Chicago, Illinois 2.00% There were no instances of year-over-year depreciation in home prices…
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What’s Ahead For Mortgage Rates This Week – May 5, 2014

Mortgage Rates , ,
Last week's economic news included several reports related to housing and mortgages. The NAR started the week on a positive note with its Pending Home Sales Index released Monday. Pending home sales in March were higher with an unexpected increase of 3.40 percent over February for an index reading of 97.40. This is encouraging news for home sales that were severely affected by a hard winter in many areas, and suggests that as warmer weather approaches, home sales will pick up. Analysts do not expect the rapid rate of price appreciation seen in 2013. The Fed's tapering of its "quantitative…
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FOMC Noted Retail Sales In March Reached Highest Level Since September Of 2012

Housing Market , ,
The FOMC of the Federal Reserve released its customary statement after its meeting concluded April 30. FOMC members said that the economy is improving after a winter lull caused by poor weather. The national unemployment rate remains high, although some improvement in labor markets was reported. Fiscal policy is restraining economic growth, although FOMC said that the restraint is diminishing. FOMC Monitors Inflation, Further Reduces Asset Purchases The FOMC statement reflected members' concerns about the inflation rate remaining below its goal of two percent, and said that this could eventually impact economic recovery. The Fed expects inflation to approach its…
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Warmer Weather Brings In The Buyers, Is There Inventory?

Housing Analysis , ,
After three consecutive months of decline, the S&P Case-Shiller 20-City Composite Index remained nearly unchanged in February. Year-over-year home prices rose by 12.90 percent in February as compared to 13.20 percent in January. 20 Percent Below Their 2006 Pre-recession Peak Analysts note that in spite of recent slowdowns in home prices, the year-over-year rates of home price growth remain close to peak price growth attained in 2006. National home prices remain approximately 20 percent below their 2006 pre-recession peak. 13 cities posted lower rates of price gains in February. The Case-Shiller 10 and 20 city indices showed year-over-year price gains…
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Existing Home Sales Show Improvement In The Northeast And Midwest Region

Housing Analysis , ,
March sales of existing homes exceeded expectations at a seasonally adjusted annual rate of 4.59 million sales according to the NAR. Analysts projected that existing home sales would reach 4.55 million based on February's reading of 4.50 million sales. The pace of existing home sales declined by 0.20 percent as compared to February's reading. Headwinds Cause Slower Pace Of Home Sales Analysts cited poor winter weather and rapidly rising home prices as factors that kept buyers away, although the Northeast and Midwest regions reported improvements in home sales in March. NAR said that the national average home price increased to…
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Just How Sustainable Is The Micro Housing Trend?

Housing Market , ,
Something that the Europeans have been doing for decades has finally made its way over the Atlantic Ocean to North America: the trend is called micro housing, and it's turned into an entirely new way of living. With micro housing, we're beginning to do away with oversize condos and even detached homes, learning to live in a more minimalistic manner and curbing our hoarding habits for good. The affordability of micro housing is making it possible even for young adults and students to purchase their homes in the city centers across North America. But one must ask, is the micro…
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Just How Sustainable Is The Micro Housing Trend?

Housing Market , ,
Something that the Europeans have been doing for decades has finally made its way over the Atlantic Ocean to North America: the trend is called micro housing, and it's turned into an entirely new way of living. With micro housing, we're beginning to do away with oversize condos and even detached homes, learning to live in a more minimalistic manner and curbing our hoarding habits for good. The affordability of micro housing is making it possible even for young adults and students to purchase their homes in the city centers across North America. But one must ask, is the micro…
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Four Places To Look For Tax Deductions In Your Home

Homeowner Tips , ,
Paying your income taxes each year leave your wallet a bit thin? There may be money hiding in your home that lessens your tax burden. Here are four places to look: 1. Home-Office Deduction If you work from home, you could qualify for a home-office deduction. Taking the deduction can be a bit complicated; so many people who qualify don't claim the exemption. An estimated 26 million Americans have home offices, but only 3.4 million claim them on their tax return. Perhaps that's why the Internal Revenue Service attempted to simplify the process in 2013. The write-off takes into account…
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Four Places To Look For Tax Deductions In Your Home

Homeowner Tips , ,
Paying your income taxes each year leave your wallet a bit thin? There may be money hiding in your home that lessens your tax burden. Here are four places to look: 1. Home-Office Deduction If you work from home, you could qualify for a home-office deduction. Taking the deduction can be a bit complicated; so many people who qualify don't claim the exemption. An estimated 26 million Americans have home offices, but only 3.4 million claim them on their tax return. Perhaps that's why the Internal Revenue Service attempted to simplify the process in 2013. The write-off takes into account…
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What’s Ahead For Mortgage Rates This Week – April 7, 2014

Mortgage Rates , ,
Last week's economic news included readings on February construction spending and multiple reports on employment data. Private sector employment was higher in March, but The Bureau of Labor Statistics reported that Non-Farm Payrolls for March fell short of expectations. According to Freddie Mac, mortgage rates ticked upward. Employment And Unemployment News ADP's payrolls report for March was higher than February's reading, with 191,000 new private sector jobs added. In February, 178,000 jobs were added. February's reading originally showed 138,000 new jobs added. While analysts were confident that private-sector employment was showing signs of stability, the U.S. Bureau of Labor Statistics…
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