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Spring/Summer Selling Season Not Looking Good
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You're Now Reading:
Spring/Summer Selling Season Not Looking Good
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:
Spring/Summer Selling Season Not Looking Good
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June 21, 2011 (Chris Moore)

The Spring/Summer selling season, which has already gotten off to a sputtering start, may take a downward turn in the coming months according to the latest Campbell/Inside Finance HousingPulse Tracking Survey as homebuyer traffic tumbled in May.

Data from the survey shows that the index for first-time homebuyer traffic dropped to 45.3 in May from 51.7 in April. In addition, the traffic index for current homeowners dropped to 44.8 in May from 51.6 in April.

An index value of less than 50 indicates a decrease in traffic. In the prior three months, the index for both first-time homebuyers and current homeowners had been above 50, indicating an increase in homebuyer traffic.

The proportion of first-time homebuyers increased from 35.7 percent in April to 37.3 percent in May, while investors accounted for 21.6 percent of the housing market in May, which was down from 23.0 percent in April.

The Survey’s Distressed Property Index (DPI) fell to 46.7 percent in April, although distress property sales still accounted for nearly half of the homes on the market.

The gap between first-time homebuyers and the distressed property supply declined to 9.4 percentage points in May compared to 12.0 percentage points in April. The difference in the gap is important because unlike current home owners who are move up and move down buyers and thus don’t absorb any housing, they’re just trading a house for a house, first-time homeowners absorb housing supply and when the supply of distressed properties exceeds the demand from those first-time homebuyers, investors will step into the market and purchase the excess housing inventory at discount prices, which puts further downward pressure on home prices.

“The fall in homebuyer traffic indexes and other data show that this spring-summer home-buying season will be significantly below last year’s,” said Thomas Popik, research director for Campbell Surveys. “First-time homebuyers have difficulty getting mortgage financing and current homeowners are often locked into properties with negative home equity. That leaves investors to take up the slack.”

The survey found that 74 percent of the purchases made by investors were made by cash, but as more investors move away from flipping their properties to a hold-and-rent strategy, their sources of personal funding that are used to purchase homes for cash was drying up, which will force them to rely on bank financing that many have limited access to.

Tags: Campbell/Inside Mortgage Finance, HousingPulse Tracking Survey, Distressed Property Index, distressed properties, first-time homebuyers, distressed properties, investors, bargain basement prices

Source:
Campbell/Inside Mortgage Finance

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.
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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.
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ADVANTAGES OF USING
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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.
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June 21, 2011 (Chris Moore)

The Spring/Summer selling season, which has already gotten off to a sputtering start, may take a downward turn in the coming months according to the latest Campbell/Inside Finance HousingPulse Tracking Survey as homebuyer traffic tumbled in May.

Data from the survey shows that the index for first-time homebuyer traffic dropped to 45.3 in May from 51.7 in April. In addition, the traffic index for current homeowners dropped to 44.8 in May from 51.6 in April.

An index value of less than 50 indicates a decrease in traffic. In the prior three months, the index for both first-time homebuyers and current homeowners had been above 50, indicating an increase in homebuyer traffic.

The proportion of first-time homebuyers increased from 35.7 percent in April to 37.3 percent in May, while investors accounted for 21.6 percent of the housing market in May, which was down from 23.0 percent in April.

The Survey’s Distressed Property Index (DPI) fell to 46.7 percent in April, although distress property sales still accounted for nearly half of the homes on the market.

The gap between first-time homebuyers and the distressed property supply declined to 9.4 percentage points in May compared to 12.0 percentage points in April. The difference in the gap is important because unlike current home owners who are move up and move down buyers and thus don’t absorb any housing, they’re just trading a house for a house, first-time homeowners absorb housing supply and when the supply of distressed properties exceeds the demand from those first-time homebuyers, investors will step into the market and purchase the excess housing inventory at discount prices, which puts further downward pressure on home prices.

“The fall in homebuyer traffic indexes and other data show that this spring-summer home-buying season will be significantly below last year’s,” said Thomas Popik, research director for Campbell Surveys. “First-time homebuyers have difficulty getting mortgage financing and current homeowners are often locked into properties with negative home equity. That leaves investors to take up the slack.”

The survey found that 74 percent of the purchases made by investors were made by cash, but as more investors move away from flipping their properties to a hold-and-rent strategy, their sources of personal funding that are used to purchase homes for cash was drying up, which will force them to rely on bank financing that many have limited access to.

Tags: Campbell/Inside Mortgage Finance, HousingPulse Tracking Survey, Distressed Property Index, distressed properties, first-time homebuyers, distressed properties, investors, bargain basement prices

Source:
Campbell/Inside Mortgage Finance

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 21, 2011 (Chris Moore)

The Spring/Summer selling season, which has already gotten off to a sputtering start, may take a downward turn in the coming months according to the latest Campbell/Inside Finance HousingPulse Tracking Survey as homebuyer traffic tumbled in May.

Data from the survey shows that the index for first-time homebuyer traffic dropped to 45.3 in May from 51.7 in April. In addition, the traffic index for current homeowners dropped to 44.8 in May from 51.6 in April.

An index value of less than 50 indicates a decrease in traffic. In the prior three months, the index for both first-time homebuyers and current homeowners had been above 50, indicating an increase in homebuyer traffic.

The proportion of first-time homebuyers increased from 35.7 percent in April to 37.3 percent in May, while investors accounted for 21.6 percent of the housing market in May, which was down from 23.0 percent in April.

The Survey’s Distressed Property Index (DPI) fell to 46.7 percent in April, although distress property sales still accounted for nearly half of the homes on the market.

The gap between first-time homebuyers and the distressed property supply declined to 9.4 percentage points in May compared to 12.0 percentage points in April. The difference in the gap is important because unlike current home owners who are move up and move down buyers and thus don’t absorb any housing, they’re just trading a house for a house, first-time homeowners absorb housing supply and when the supply of distressed properties exceeds the demand from those first-time homebuyers, investors will step into the market and purchase the excess housing inventory at discount prices, which puts further downward pressure on home prices.

“The fall in homebuyer traffic indexes and other data show that this spring-summer home-buying season will be significantly below last year’s,” said Thomas Popik, research director for Campbell Surveys. “First-time homebuyers have difficulty getting mortgage financing and current homeowners are often locked into properties with negative home equity. That leaves investors to take up the slack.”

The survey found that 74 percent of the purchases made by investors were made by cash, but as more investors move away from flipping their properties to a hold-and-rent strategy, their sources of personal funding that are used to purchase homes for cash was drying up, which will force them to rely on bank financing that many have limited access to.

Tags: Campbell/Inside Mortgage Finance, HousingPulse Tracking Survey, Distressed Property Index, distressed properties, first-time homebuyers, distressed properties, investors, bargain basement prices

Source:
Campbell/Inside Mortgage Finance

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.