You're Now Reading:
Housing Prices Double Dip; Hitting New Post-Crash Lows
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Housing Prices Double Dip; Hitting New Post-Crash Lows
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:
Housing Prices Double Dip; Hitting New Post-Crash Lows
Mortgage Calculator
Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates

May 9, 2011 (Brian Moore)

Home prices double dipped in April 2011 as home prices dropped nationally 0.7 percent below the prior lows experienced in March 2009 according to the latest Home Data Index (HDI) Market Report released by housing data firm Clear Capital.

Nationally, quarterly home prices have declined 4.9 percent, while year-over-year prices have decreased 5.0 percent. Over the last nine months, home prices have fallen 11.5 percent, a rate of decline not seen since 2008. All the Metropolitan Statistical Areas (MSA) suffered quarter-over-quarter price declines.

REO saturation rates continued to steadily climb, reaching 34.5 percent of all sales, the ninth consecutive month that REO sales have increased.

“The latest data through April shows a continued increase in the proportion of distressed sales that are taking hold in markets nationwide,” said Dr. Alex Villacorta, director of research and analytics at Clear Capital. “With more than one-third of national home sales being REO, market prices are being weighed down as many markets have not regained enough footing to withstand the strain of the high proportion of REO sales.”

Of the four regions, only the Midwest has yet to double dip. Citing the effects of the increased distressed sales activity, Clear Capital declared last month that the Western region was the first to double dip, followed by the South and Northeast this month for the same reason.

All quarterly price changes in the top 15 major markets slid into negative territory as REO saturation climbed among 11 of the 15 of the highest performing markets (led by the 53.7% rate in Las Vegas). Year-over-year price changes in 13 of the 15 markets slid into negative territory.

The MSA’s with the worse quarter-over-quarter price declines were Detroit-Warren-Livonia, Michigan (-13.4%), Hartford-West Hartford-East Hartford, Connecticut (-12.8%), Milwaukee-Waukesha-West Allis, Wisconsin (-12.6%), Cleveland-Elyria-Mentor, Ohio (-11.2%), and Chicago-Naperville-Joliet, Illinois (-9.7%). Seven of the lowest performing MSA’s are from the Midwest with Detroit remaining the worst performing market for the fourth consecutive month.

The highest performing MSA’s were Charlotte-Gastonia-Concord, North Carolina (-1.4%), Washington DC-Arlington-Alexandra, Virginia (-1.6%), Tucson, Arizona (-1.7%), Dallas-Fort Worth-Arlington, Texas (-1.7%), and Philadelphia PA-Camden NJ-Wilmington DE (-2.2%).

Clear Capital remains hopeful of a spring home sales revival following the new lows in home prices this past winter but remains cautious as they note that this will be the first year since 2008 that the home buying season is not accompanied by some type of homebuyer tax assistance program and the last time that happened, home prices fell sharply.

You can read the report in its entirety on Clear Capitals website.

Tags: Clear Capital, Home Data Index, HDI, Market Report, price declines, double dip, REO saturation rates, distressed sales, homebuyer assistance program, housing 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 MortgageLoanRateUpdate 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.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

May 9, 2011 (Brian Moore)

Home prices double dipped in April 2011 as home prices dropped nationally 0.7 percent below the prior lows experienced in March 2009 according to the latest Home Data Index (HDI) Market Report released by housing data firm Clear Capital.

Nationally, quarterly home prices have declined 4.9 percent, while year-over-year prices have decreased 5.0 percent. Over the last nine months, home prices have fallen 11.5 percent, a rate of decline not seen since 2008. All the Metropolitan Statistical Areas (MSA) suffered quarter-over-quarter price declines.

REO saturation rates continued to steadily climb, reaching 34.5 percent of all sales, the ninth consecutive month that REO sales have increased.

“The latest data through April shows a continued increase in the proportion of distressed sales that are taking hold in markets nationwide,” said Dr. Alex Villacorta, director of research and analytics at Clear Capital. “With more than one-third of national home sales being REO, market prices are being weighed down as many markets have not regained enough footing to withstand the strain of the high proportion of REO sales.”

Of the four regions, only the Midwest has yet to double dip. Citing the effects of the increased distressed sales activity, Clear Capital declared last month that the Western region was the first to double dip, followed by the South and Northeast this month for the same reason.

All quarterly price changes in the top 15 major markets slid into negative territory as REO saturation climbed among 11 of the 15 of the highest performing markets (led by the 53.7% rate in Las Vegas). Year-over-year price changes in 13 of the 15 markets slid into negative territory.

The MSA’s with the worse quarter-over-quarter price declines were Detroit-Warren-Livonia, Michigan (-13.4%), Hartford-West Hartford-East Hartford, Connecticut (-12.8%), Milwaukee-Waukesha-West Allis, Wisconsin (-12.6%), Cleveland-Elyria-Mentor, Ohio (-11.2%), and Chicago-Naperville-Joliet, Illinois (-9.7%). Seven of the lowest performing MSA’s are from the Midwest with Detroit remaining the worst performing market for the fourth consecutive month.

The highest performing MSA’s were Charlotte-Gastonia-Concord, North Carolina (-1.4%), Washington DC-Arlington-Alexandra, Virginia (-1.6%), Tucson, Arizona (-1.7%), Dallas-Fort Worth-Arlington, Texas (-1.7%), and Philadelphia PA-Camden NJ-Wilmington DE (-2.2%).

Clear Capital remains hopeful of a spring home sales revival following the new lows in home prices this past winter but remains cautious as they note that this will be the first year since 2008 that the home buying season is not accompanied by some type of homebuyer tax assistance program and the last time that happened, home prices fell sharply.

You can read the report in its entirety on Clear Capitals website.

Tags: Clear Capital, Home Data Index, HDI, Market Report, price declines, double dip, REO saturation rates, distressed sales, homebuyer assistance program, housing 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.

May 9, 2011 (Brian Moore)

Home prices double dipped in April 2011 as home prices dropped nationally 0.7 percent below the prior lows experienced in March 2009 according to the latest Home Data Index (HDI) Market Report released by housing data firm Clear Capital.

Nationally, quarterly home prices have declined 4.9 percent, while year-over-year prices have decreased 5.0 percent. Over the last nine months, home prices have fallen 11.5 percent, a rate of decline not seen since 2008. All the Metropolitan Statistical Areas (MSA) suffered quarter-over-quarter price declines.

REO saturation rates continued to steadily climb, reaching 34.5 percent of all sales, the ninth consecutive month that REO sales have increased.

“The latest data through April shows a continued increase in the proportion of distressed sales that are taking hold in markets nationwide,” said Dr. Alex Villacorta, director of research and analytics at Clear Capital. “With more than one-third of national home sales being REO, market prices are being weighed down as many markets have not regained enough footing to withstand the strain of the high proportion of REO sales.”

Of the four regions, only the Midwest has yet to double dip. Citing the effects of the increased distressed sales activity, Clear Capital declared last month that the Western region was the first to double dip, followed by the South and Northeast this month for the same reason.

All quarterly price changes in the top 15 major markets slid into negative territory as REO saturation climbed among 11 of the 15 of the highest performing markets (led by the 53.7% rate in Las Vegas). Year-over-year price changes in 13 of the 15 markets slid into negative territory.

The MSA’s with the worse quarter-over-quarter price declines were Detroit-Warren-Livonia, Michigan (-13.4%), Hartford-West Hartford-East Hartford, Connecticut (-12.8%), Milwaukee-Waukesha-West Allis, Wisconsin (-12.6%), Cleveland-Elyria-Mentor, Ohio (-11.2%), and Chicago-Naperville-Joliet, Illinois (-9.7%). Seven of the lowest performing MSA’s are from the Midwest with Detroit remaining the worst performing market for the fourth consecutive month.

The highest performing MSA’s were Charlotte-Gastonia-Concord, North Carolina (-1.4%), Washington DC-Arlington-Alexandra, Virginia (-1.6%), Tucson, Arizona (-1.7%), Dallas-Fort Worth-Arlington, Texas (-1.7%), and Philadelphia PA-Camden NJ-Wilmington DE (-2.2%).

Clear Capital remains hopeful of a spring home sales revival following the new lows in home prices this past winter but remains cautious as they note that this will be the first year since 2008 that the home buying season is not accompanied by some type of homebuyer tax assistance program and the last time that happened, home prices fell sharply.

You can read the report in its entirety on Clear Capitals website.

Tags: Clear Capital, Home Data Index, HDI, Market Report, price declines, double dip, REO saturation rates, distressed sales, homebuyer assistance program, housing 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.