U.S. home prices continued to increase in August as the Case Shiller 20-city Home Price Index increased 0.9 percent to its highest level since September 2010. The 20-city index is up 2.0 percent in the last year.
See the article here.
In bay area, it is absolutely a seller's market. 15 to 30 offers per house is not uncommon at this moment.
Wednesday, October 31, 2012
Tuesday, October 30, 2012
Home Prices rise due to Banks' Holding onto REOs ?
A sharp drop in distressed sales is one of the main drivers behind the
steady rise in home prices seen in certain areas throughout the country.
In September, the HousingPulse Distressed Property Index (DPI), which measures the proportion of purchase transactions involving distressed properties, hit a record low of 38.6 percent based on a three-month moving average.
The drop marks the fifth consecutive monthly decline and is more than 10 percentage points lower than the February’s near-record-high of 48.7 percent.
Please see the whole article here.
In September, the HousingPulse Distressed Property Index (DPI), which measures the proportion of purchase transactions involving distressed properties, hit a record low of 38.6 percent based on a three-month moving average.
The drop marks the fifth consecutive monthly decline and is more than 10 percentage points lower than the February’s near-record-high of 48.7 percent.
Please see the whole article here.
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