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Clear Capital Reports Signs of Housing Market Stabilizing
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You're Now Reading:
Clear Capital Reports Signs of Housing Market Stabilizing
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Clear Capital Reports Signs of Housing Market Stabilizing
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June 9, 2011 (Jeff Alan)

Clear Capital reports that there are signs of market stabilization for the upcoming summer buying season as U.S. quarter-over-quarter home prices through the end of May declined only 2.3 percent according to data from its latest Home Price Index (HPI), which was half of what the decline was in last months report.

Year-over-year home prices for the same quarter were down 7.6 percent, which was an increase from 5.0 percent in last months report and sets prices back to levels not seen since the year 2000.

“The latest Market Report results through May suggest that home prices are starting to ease back from the heavy declines seen over the winter,” said Dr. Alex Villacorta, director of research and analytics at Clear Capital. “We are still far away from the strong demand needed to fully turn things around for the housing market; however, it is clear from the initial spring sales data that prices are softening, suggesting stabilization in the market.”

The Real Estate Owned (REO) saturation rate, the percentage of all transactions that were distressed properties, dropped to 33.9 percent, which was down from April’s rate of 34.5 percent. There was also good news concerning REO prices with the latest data showing that the price paid for distressed properties has increased 5.0 percent over the last three quarters which Clear Capital attributes to increased activity in the higher-end REO market.

“The saturation rate has leveled off after climbing 10 percent since July 2010, with the latest data showing national REO saturation holding steady at 33 percent,” added Villacorta. “The median price paid for distressed properties has risen over the past three quarters, which is a good sign that the REO market segment is seeing increased activity toward the upper end of this space.”

The top performing market for the current quarter through the end of May was the Washington D.C.-Arlington, VA-Alexandra, VA area which experienced price increases of 4.5 percent quarter-over-quarter. They were followed by St Louis, MO (2.2%), Pittsburgh, PA (1.6%), New York, NY-Long Island, NY-No. New Jersey, NJ (1.5%), and Virginia Beach, FL-Ft. Lauderdale, FL-Miami Beach, FL (0.6%)

The worst performing market for the current quarter was the Detroit, MI-Warren, MI-Livonia, MI area which experienced price declines of 13.2 percent. They were followed by New Orleans, LA-Metairie, LA-Kenner, LA (-10.9%), Hartford, CT-West Hartford, CT-East Hartford, CT (-10.7%), Cleveland, OH-Elyria, OH-Mentor, OH (-10.1%, and Columbus, OH (-10.1%).

Detroit, Cleveland, and Columbus were especially hard hit by high REO saturation rates of 58 percent, 44.3 percent, and 45.6 percent, respectively, as distressed home prices in these areas bucked the nation wide trend by declining instead of increasing.

You can read the HPI report in its entirety on Clear Capital’s website here.

Tags: Clear Capital, Home Price Index, HPI, market stabilization, summer buying season, REO, home prices, saturation rate, distressed home prices

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Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
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June 9, 2011 (Jeff Alan)

Clear Capital reports that there are signs of market stabilization for the upcoming summer buying season as U.S. quarter-over-quarter home prices through the end of May declined only 2.3 percent according to data from its latest Home Price Index (HPI), which was half of what the decline was in last months report.

Year-over-year home prices for the same quarter were down 7.6 percent, which was an increase from 5.0 percent in last months report and sets prices back to levels not seen since the year 2000.

“The latest Market Report results through May suggest that home prices are starting to ease back from the heavy declines seen over the winter,” said Dr. Alex Villacorta, director of research and analytics at Clear Capital. “We are still far away from the strong demand needed to fully turn things around for the housing market; however, it is clear from the initial spring sales data that prices are softening, suggesting stabilization in the market.”

The Real Estate Owned (REO) saturation rate, the percentage of all transactions that were distressed properties, dropped to 33.9 percent, which was down from April’s rate of 34.5 percent. There was also good news concerning REO prices with the latest data showing that the price paid for distressed properties has increased 5.0 percent over the last three quarters which Clear Capital attributes to increased activity in the higher-end REO market.

“The saturation rate has leveled off after climbing 10 percent since July 2010, with the latest data showing national REO saturation holding steady at 33 percent,” added Villacorta. “The median price paid for distressed properties has risen over the past three quarters, which is a good sign that the REO market segment is seeing increased activity toward the upper end of this space.”

The top performing market for the current quarter through the end of May was the Washington D.C.-Arlington, VA-Alexandra, VA area which experienced price increases of 4.5 percent quarter-over-quarter. They were followed by St Louis, MO (2.2%), Pittsburgh, PA (1.6%), New York, NY-Long Island, NY-No. New Jersey, NJ (1.5%), and Virginia Beach, FL-Ft. Lauderdale, FL-Miami Beach, FL (0.6%)

The worst performing market for the current quarter was the Detroit, MI-Warren, MI-Livonia, MI area which experienced price declines of 13.2 percent. They were followed by New Orleans, LA-Metairie, LA-Kenner, LA (-10.9%), Hartford, CT-West Hartford, CT-East Hartford, CT (-10.7%), Cleveland, OH-Elyria, OH-Mentor, OH (-10.1%, and Columbus, OH (-10.1%).

Detroit, Cleveland, and Columbus were especially hard hit by high REO saturation rates of 58 percent, 44.3 percent, and 45.6 percent, respectively, as distressed home prices in these areas bucked the nation wide trend by declining instead of increasing.

You can read the HPI report in its entirety on Clear Capital’s website here.

Tags: Clear Capital, Home Price Index, HPI, market stabilization, summer buying season, REO, home prices, saturation rate, distressed home prices

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

June 9, 2011 (Jeff Alan)

Clear Capital reports that there are signs of market stabilization for the upcoming summer buying season as U.S. quarter-over-quarter home prices through the end of May declined only 2.3 percent according to data from its latest Home Price Index (HPI), which was half of what the decline was in last months report.

Year-over-year home prices for the same quarter were down 7.6 percent, which was an increase from 5.0 percent in last months report and sets prices back to levels not seen since the year 2000.

“The latest Market Report results through May suggest that home prices are starting to ease back from the heavy declines seen over the winter,” said Dr. Alex Villacorta, director of research and analytics at Clear Capital. “We are still far away from the strong demand needed to fully turn things around for the housing market; however, it is clear from the initial spring sales data that prices are softening, suggesting stabilization in the market.”

The Real Estate Owned (REO) saturation rate, the percentage of all transactions that were distressed properties, dropped to 33.9 percent, which was down from April’s rate of 34.5 percent. There was also good news concerning REO prices with the latest data showing that the price paid for distressed properties has increased 5.0 percent over the last three quarters which Clear Capital attributes to increased activity in the higher-end REO market.

“The saturation rate has leveled off after climbing 10 percent since July 2010, with the latest data showing national REO saturation holding steady at 33 percent,” added Villacorta. “The median price paid for distressed properties has risen over the past three quarters, which is a good sign that the REO market segment is seeing increased activity toward the upper end of this space.”

The top performing market for the current quarter through the end of May was the Washington D.C.-Arlington, VA-Alexandra, VA area which experienced price increases of 4.5 percent quarter-over-quarter. They were followed by St Louis, MO (2.2%), Pittsburgh, PA (1.6%), New York, NY-Long Island, NY-No. New Jersey, NJ (1.5%), and Virginia Beach, FL-Ft. Lauderdale, FL-Miami Beach, FL (0.6%)

The worst performing market for the current quarter was the Detroit, MI-Warren, MI-Livonia, MI area which experienced price declines of 13.2 percent. They were followed by New Orleans, LA-Metairie, LA-Kenner, LA (-10.9%), Hartford, CT-West Hartford, CT-East Hartford, CT (-10.7%), Cleveland, OH-Elyria, OH-Mentor, OH (-10.1%, and Columbus, OH (-10.1%).

Detroit, Cleveland, and Columbus were especially hard hit by high REO saturation rates of 58 percent, 44.3 percent, and 45.6 percent, respectively, as distressed home prices in these areas bucked the nation wide trend by declining instead of increasing.

You can read the HPI report in its entirety on Clear Capital’s website here.

Tags: Clear Capital, Home Price Index, HPI, market stabilization, summer buying season, REO, home prices, saturation rate, distressed home prices

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.