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“Existing-home sales increased slightly less than expected in the month of January, up 4.3% to a seasonally adjusted annual rate of 4.57 million, and sales were up 0.7% compared to the same period a year earlier, according to the National Association of Realtors.”
“I am happy to see that there is now a healthier debate between renting and buying in today’s market. Instead of mindlessly buying a home because it is the “right thing” to do people are being more apt to run the numbers before diving in.”
“Both completed foreclosures and the number of San Diego property owners who started the foreclosure process increased in January from the end of 2011, but those numbers are down compared to figures from a year ago, real estate tracker DataQuick reported Tuesday.”
“About a week ago, we published our annual year-in-review of homes prices and sales in San Diego County.”
“Last week I wrote about how fewer foreclosures up for sale in the housing market could actually mean lower overall home prices.”
“RYE, N.Y.–(EON: Enhanced Online News)–Despite a prolonged downturn in the housing market, real estate is still the best long term investment, according to 84% of respondents in OwnAmerica’s recent survey on real estate investing. Comparatively, stocks/mutual funds, bonds and savings accounts were ranked best by only 9.9%, 4% and 2%, respectively.”
“An early signal of an economic turnaround was local landlords’ ability to raise rents last year after a rare cycle of rent cuts. Surveys of rent at large complexes show a significant upward trend, but a government survey of consumer costs — including a rent slice — shows that not all Southern California landlords can ask significantly more from their tenants.”
“The collapse in housing and the 33 percent plunge in house prices since 2006 are favoring renting over homeownership. This trend will dominate the housing market for the next four or five years, and put additional pressure on a weak economy.”
“Sales of previously owned U.S. homes rose in January to the highest level since May 2010 as investors took advantage of lower prices to buy distressed properties.” Read More
“Freddie Mac, much like Fannie Mae, is cautiously optimistic about the fate of the 2012 housing market with job prospects looking more favorable and interest rates remaining at all-time lows.”
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