breaking news
Healthy Food Factory Commissary Commercial Kitchen in Boca Raton, OUR KITCHENS ARE AVAILABLE 24/7/365 - Call (561) 394-7466 - Healthy Food Factory Commissary Commercial Kitchen in Boca Raton, OUR KITCHENS ARE AVAILABLE 24/7/365 - Call (561) 394-7466
Sign up for Newsletter
Email:
Florida_Panthers_Single_Game_Tickets_DIGITAL_8_2_18_CHILL_300x250.jpg
Century_21_Stuart_Goodwin.jpg
SFWW_236X150_WEB_AD_HAPPY_HERALD.jpg
Healthy_Food_Factory.jpg
South_Flo_Gutter_Services.jpg
Superios_Tint.png
DirectFreight.jpg
Open_house_Interior.jpg
A_H_Automotive.jpg
Dos_Amigos.jpg
Storm_Depot.jpg
Perfectly_Imperfect.jpg
Hemp_Factory.jpg
CBD_Docs.jpg
Bicycle_Spot.jpg
Allure_Massage.jpg
PG EXPRESS_1.jpg
Nomad_banner.jpg
Ace_Hardware.jpg
FinsFurs_Feathers.jpg
Ace_Hardware_rental.jpg
rss.jpg

 

 

 

 

 

 

 
Home / Articles / Real Estate / Happy Herald Realty /  Bank Repos Slow In Florida
. . . . . . .
Tuesday, September 4,2012

Bank Repos Slow In Florida

 

Prices for single-family homes climbed in three-quarters of U.S.

cities and values nationally jumped the most since 2006 as real estate markets stabilized.

“The median sales price increased in the second quarter from a year earlier in 110 of 147 metropolitan areas,” the National Association of Realtors said in a report.

In the first quarter, 74 areas had gains. U.S. housing prices are beginning to lift off the bottom after the worst housing slump since the 1930s as buyers compete for a tight supply of available properties. At the end of June, 2.39 million previously owned homes were available for sale, 24 percent fewer than a year earlier. The turnaround in home prices feels pretty broad.

There are still risks that home prices will dip a little more before they start appreciating with any consistency.

One threat to home values is the so-called shadow inventory of delinquent properties that have yet to enter the market. U.S. foreclosure starts rose 6 percent last month from July 2011.

The national median existing single-family home price was $181,500 in the second quarter, up 7.3 percent from the same period last year, the strongest annual increase since the first quarter of 2006, according to the Realtors group.

Distressed properties, including discounted foreclosures and short sales, in which the price is less than the mortgage balance, accounted for 26 percent of second-quarter deals, down from 33 percent a year earlier. The all-cash home purchases was 29 percent in the second quarter, down from 30 percent in the second quarter of 2011. Investors, who make up the bulk of cash purchasers and compete with first-time buyers, accounted for 19 percent of all transactions, matching the share a year earlier.

The best-performing metro areas were Detroit and Phoenix, where prices increased 29 percent from a year earlier. Prices rose 22 percent in the Boise city, Idaho, area and 21 percent in Florence, SC. Price declines were in Stamford, Conn., area, which also includes Bridgeport with the biggest decline, with the median selling price dropping 13 percent in the quarter. It was followed by Edison, NJ, with an 9.5 percent decrease; and Gulfport- Biloxi, Mississippi, with a 9.4 percent drop. Other indices also showed gains in prices. Nationwide home prices climbed 2.5 percent in June from a year earlier, the fourth consecutive increase. Freddie Mac said prices gained 4.8 percent from March to June, the biggest quarterly pickup in eight years. The shadow inventory may be less of a threat to the market because of a shrinking supply of vacant homes and a decline in the number of bank-owned properties for sale.

 

  • Currently 3.5/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
 
 
Close
Close
Close