US Housing Recovery: Housing: Inventory down 23% YOY in September

HousingTracker reported that the early September listings, for the 54 metro areas, declined 22.6% from the same period last year. This decline in active inventory remains a huge story, and the lower level of inventory is pushing up house prices.

Indianapolis #4 for Most Affordable USA Homes

#4. Indianapolis-Carmel, Ind. Median housing price: $114,000, The metropolitan area of Indiana’s state capital has an HOI of 91.7, finding most homes on the market affordable for families earning the median income of $66,900.

WSJ: The U.S. Housing Bust Is Over

The housing market has turned—at last…. Nearly 10% more existing homes were sold in May than in the same month a year earlier, many purchased by investors who plan to rent them for now and sell them later, an important sign of an inflection point. In something of a surprise, the inventory of existing homes for sale has fallen close to the normal level of six months’ worth despite all the foreclosed homes that lenders own.

Real USA House Prices & Price-to-Rent Ratio

On a price-to-rent basis, the Case-Shiller National index is back to Q4 1998 levels, the Composite 20 index is back to March 2000 levels, and the CoreLogic index is back to April 2000. In real terms – and as a price-to-rent ratio – prices are mostly back to late 1990s or early 2000 levels. In real terms (inflation adjusted), the National index is back to Q4 1998 levels, the Composite 20 index is back to March 2000, and the CoreLogic index back to February 2000.

Why US Home Prices Are Rising Again

It wasn’t hard to see this coming: Home prices rose in April after a spring that brought more buyers chasing fewer homes. The number of homes for sale has been much lower this year than in the past few years, even though demand has returned to levels last seen in 2010, when tax credits boosted demand and sent prices up. The function of falling supply and rising demand means prices are already going up in more markets… The share of homes selling out of foreclosure has fallen. This “distressed share” is important for home-price indexes that measure repeat sales, such as the Case-Shiller index.

10% Home Price Jump Possible in USA

The article (and it’s link) are posted below, but in the opinion of Rohit Prakash, President of American Full House, a 10% increase is not going to happen. It is one thing for inventory levels to drop, prices to stabilize and perhaps increase over the next year. In addition to the large number of homes in the foreclosure pipeline, a “better market” will bring in more sellers...

Indians Among Top 5 Buyers of Homes in USA

Flush with cash and keen to diversify their portfolio, Indians are busy snapping up property in the US. And they are not Indian-Americans, but desis from Mumbai, Delhi, Bangalore and Hyderabad, who are picking up single-family homes and condos as vacation homes or just investment.

Foreign Purchases of U.S. Homes Rise Strongly

A survey released Monday showed that the six-year slide in U.S. housing prices, coupled with the rising value of some foreign currencies and continued instability in Europe, is fueling a property-buying binge in the U.S. by wealthy foreigners… Some foreigners buyers view U.S. real estate as a safe place to park cash amid fears of a property bubble or political instability at home. Others are buying as a hedge against inflation because real assets like property tend to hold their value better than other investments during periods of high inflation. At a time when most securities have low yields, some investors believe they can earn higher returns by buying U.S. real estate and holding it as a rental investment or reselling in a few years at a profit.

US New Home Sales rose 3.3 percent in April

Americans bought more new homes last month, the latest evidence that the U.S. housing market could be starting to recover.
New-home sales increased 3.3 percent in April from March… Sales rose sharply in every region of the country but the South. The gain pushed the annual sales pace to its second-highest level in two years.

FHFA: House Price Index Shows First Yearly Gain Since 2007

“Consistent with other housing market indicators, the FHFA HPI showed stronger house prices in the first quarter, most notably in March,” said FHFA Principal Economist Andrew Leventis. “Increased affordability and a somewhat smaller inventory of homes for sale are positively impacting house prices.”