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Home Sales and Prices Increased in April: Radar Logic
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Home Sales and Prices Increased in April: Radar Logic
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
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Receive Multiple Offers. Save Money.
You're Now Reading:
Home Sales and Prices Increased in April: Radar Logic
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June 24, 2011 (Shirley Allen)

Home prices increased 2.0 percent from March to April 2011 according to Radar Logic’s April 2011 RPX Monthly Housing Market Report, but were still down 5.1 percent compared to April 2010.

Radar Logic blamed the year-over-year price drop on widespread negative equity, a backlogged foreclosure pipeline, and severe oversupply. Prices also received a boost last year as homes in April 2010 were influenced by the large influx of homebuyers trying to take advantage of the homebuyer’s tax credits before they ended

“Clearly, the very large supply of homes for sale or potentially for sale is weighing heavily on the market,” said Michael Feder, president and CEO of Radar Logic. “Perhaps more worrisome is the clearly established discount on distressed properties. Reason would suggest this discount reflects the level at which buyers are comfortable they can achieve a reasonable rate of return. We expect this situation will continue for some time and will deter any truly robust economic recovery.”

Buyers shifted away from purchasing foreclosed homes in April as non-foreclosed homes outsold foreclosed homes. Foreclosed homes sold at a 39 percent discount on average compared to non-foreclosed homes and had it not been for the decline in foreclosure sales as a percentage of total sales, the month-over-month price increase would have been smaller.

Home sales also increased from March to April by 11.6 percent, but year-over-year sales were down by 9.2 percent as the market had to contend with the post- homebuyer tax credit hangover.

Foreclosed homes sales accounted for 30 percent of all homes sold during April which was down from 33 percent in March.

Of the 25 Metropolitan Statistical Areas (MSA), only three reported price decreases in month-over-month comparisons. The top gainer was Atlanta which saw a price gain of 12.0 percent. Seattle and San Diego both reported the largest declines of 1.2 percent

All of the MSAs experienced price declines in year-over-year comparisons, with New York reporting the smallest decline of 0.2 percent and Boston reporting the largest price decline of 21.8 percent.

Tags: Radar Logic, home prices, home sales, distressed properties, price discount, foreclosure sales, foreclosed homes, homebuyer tax credit

Source:
Radar Logic

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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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Rates

June 24, 2011 (Shirley Allen)

Home prices increased 2.0 percent from March to April 2011 according to Radar Logic’s April 2011 RPX Monthly Housing Market Report, but were still down 5.1 percent compared to April 2010.

Radar Logic blamed the year-over-year price drop on widespread negative equity, a backlogged foreclosure pipeline, and severe oversupply. Prices also received a boost last year as homes in April 2010 were influenced by the large influx of homebuyers trying to take advantage of the homebuyer’s tax credits before they ended

“Clearly, the very large supply of homes for sale or potentially for sale is weighing heavily on the market,” said Michael Feder, president and CEO of Radar Logic. “Perhaps more worrisome is the clearly established discount on distressed properties. Reason would suggest this discount reflects the level at which buyers are comfortable they can achieve a reasonable rate of return. We expect this situation will continue for some time and will deter any truly robust economic recovery.”

Buyers shifted away from purchasing foreclosed homes in April as non-foreclosed homes outsold foreclosed homes. Foreclosed homes sold at a 39 percent discount on average compared to non-foreclosed homes and had it not been for the decline in foreclosure sales as a percentage of total sales, the month-over-month price increase would have been smaller.

Home sales also increased from March to April by 11.6 percent, but year-over-year sales were down by 9.2 percent as the market had to contend with the post- homebuyer tax credit hangover.

Foreclosed homes sales accounted for 30 percent of all homes sold during April which was down from 33 percent in March.

Of the 25 Metropolitan Statistical Areas (MSA), only three reported price decreases in month-over-month comparisons. The top gainer was Atlanta which saw a price gain of 12.0 percent. Seattle and San Diego both reported the largest declines of 1.2 percent

All of the MSAs experienced price declines in year-over-year comparisons, with New York reporting the smallest decline of 0.2 percent and Boston reporting the largest price decline of 21.8 percent.

Tags: Radar Logic, home prices, home sales, distressed properties, price discount, foreclosure sales, foreclosed homes, homebuyer tax credit

Source:
Radar Logic

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 24, 2011 (Shirley Allen)

Home prices increased 2.0 percent from March to April 2011 according to Radar Logic’s April 2011 RPX Monthly Housing Market Report, but were still down 5.1 percent compared to April 2010.

Radar Logic blamed the year-over-year price drop on widespread negative equity, a backlogged foreclosure pipeline, and severe oversupply. Prices also received a boost last year as homes in April 2010 were influenced by the large influx of homebuyers trying to take advantage of the homebuyer’s tax credits before they ended

“Clearly, the very large supply of homes for sale or potentially for sale is weighing heavily on the market,” said Michael Feder, president and CEO of Radar Logic. “Perhaps more worrisome is the clearly established discount on distressed properties. Reason would suggest this discount reflects the level at which buyers are comfortable they can achieve a reasonable rate of return. We expect this situation will continue for some time and will deter any truly robust economic recovery.”

Buyers shifted away from purchasing foreclosed homes in April as non-foreclosed homes outsold foreclosed homes. Foreclosed homes sold at a 39 percent discount on average compared to non-foreclosed homes and had it not been for the decline in foreclosure sales as a percentage of total sales, the month-over-month price increase would have been smaller.

Home sales also increased from March to April by 11.6 percent, but year-over-year sales were down by 9.2 percent as the market had to contend with the post- homebuyer tax credit hangover.

Foreclosed homes sales accounted for 30 percent of all homes sold during April which was down from 33 percent in March.

Of the 25 Metropolitan Statistical Areas (MSA), only three reported price decreases in month-over-month comparisons. The top gainer was Atlanta which saw a price gain of 12.0 percent. Seattle and San Diego both reported the largest declines of 1.2 percent

All of the MSAs experienced price declines in year-over-year comparisons, with New York reporting the smallest decline of 0.2 percent and Boston reporting the largest price decline of 21.8 percent.

Tags: Radar Logic, home prices, home sales, distressed properties, price discount, foreclosure sales, foreclosed homes, homebuyer tax credit

Source:
Radar Logic

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.