Home Prices in the US Remain Unchanged in Third Quarter
Real Estate prices in the US remained almost flat in the third quarter despite a decline in sales of existing homes. Median price for single-family homes in the period was at $177,900, almost flat compared to the same period last year's $178,200, according to a report released by the National Association of Realtors (NAR).
The industry group underlined that home prices in the quarter, and in the year, have been varying slightly compared to figures last year despite the significant swings in sales of properties. In general, areas with significant changes in home prices are usually those that bear greater impact of distressed sales.
Median prices of single-family houses rose (compared to last year) in 77 out of 155 metropolitan areas that are tracked by NAR. Median prices dropped in 76 areas and stayed exactly the same in two. Analysts note that home prices are reflections of sales prices imposed on closed and completed transactions.
Distressed home units comprised of 34% of third-quarter sales. That is higher than 30% in the same quarter last year and also greater than 32% in the preceding quarter. Sales of condominiums and existing homes for single families fell by double digits year-on-year and from the previous quarter
Overall, total home sales declined by 25.3% from second quarter and by 21.2% from same period last year. Sales fell in all states except in Idaho, Florida, and Hawaii. Meanwhile, sales figures fell by a double digit in Washington DC. The biggest decline in home sales was recorded in North Dakota (34.3%). For its industry outlook, NAR expects a 6.6% decline in 2010 overall home sales compared to actual sales in 2009.
The top appreciating markets in terms of median home sale prices were identified by NAR. Those include (from top to bottom) Burlington in Vermont, Elmira in New York, Dallas and Fort Worth in Texas, Fargo in Minnesota, Bridgeport in Connecticut, Riverside and San Bernardino in California, Portland in Maine, San Jose and Sunnyvale in California, and Shreveport in Louisiana.
On the other hand, the top declining markets based on median home prices are (from top decliners down): Ocala in Florida, Palm Bay in Florida, Tucson in Arizona, Youngstown and Warren in Pennsylvania, Gulfport in Mississippi, Boise City in Idaho, Atlanta and Sandy Springs in Georgia, Cumberland in West Virginia, Orlando in Florida, and Canton in Ohio.
Questions and Answers
More foreclosures can only bring home prices down, this according to experts in the government and the private sectors.
In USA, one of the leading brands that offer diverse and high quality products promoting proper hygiene is Difresh USA. If you are looking for the best opportunity to grow and have the opportunity for a new business Difresh USA can help you for they are looking for Exclusive Local Distributors
Getting clean and refresh doesn't sacrifice the place where you are for it should be a habit. Having a healthy body will allow you to do things right and good. And no matter where you are you should practice a healthy and proper hygiene even in little things you do.
Maintaining a healthy and proper hygiene badly needs products that are truly effective and could truly answer our need for this. No matter where we are and at anytime we want to get clean we basically need these products right away and only Difresh USA can supply these in a very easy way
The key reason why some firms thrive while some implode during an financial recession is still a puzzle to many people business-owning business owners. Some wrongly assume that all businesses should suffer via recessionary cycles. But the truth is that some companies are usually essentially recession-proof, and it is not necessarily because they are much larger, better known, or a lot more generously capitalized.
Companies like Arch Coal (ACI) and Massey Energy (MEE) watched his or her stock climbed.
If you are planning to purchase Los Angeles HUD homes, then you should know how to appreciate foreclosure statistics. There is more to them than just numbers; they can actually tell you when to seize important financial opportunities.
Los Angeles apartments are some of the best residential spaces available in the market today. They are great alternatives to full, big houses and offer starter families unique opportunities to save money.
The number of foreclosure notices fell by up to 21% in November compared to foreclosure filings in October. The significant drop is attributed to mortgage bank's decisions to temporarily halt foreclosure activities due to foreclosure complaints.
The US home construction industry has indicated that it is still alive as foreclosures drop to an 18-month low. This piece of good news is, however, not taken by analysts as a sign of the much awaited housing rebound and foreclosure decline.
The biggest shopping mall in Mississippi, Jackson Metrocenter Mall, almost got foreclosed. Fortunately, the mall's owner managed to settle a mortgage loan it needed to pay this week. A possible foreclosure of the mall was avoided.
