CoreLogic was the first research firm to publish a full analysis of the 2012 housing market, and it confirms the good news we’ve been reporting for months now: Home sales and prices are rising, new-home construction is back on track, and foreclosures are down dramatically.
The National Association of Realtors says 2012 will set a record for housing affordability as home prices hit bottom and mortgage rates set record lows. And 2013 won’t be far behind in terms of purchasing power.
A new report says the housing market’s “shadow inventory” continues to shrink in California and across the country as the economy gradually improves and homeowners increasingly get a chance to sell their property by short sales.
The new year dawns with bright prospects for Bay Area real estate, as 2012 led us into a stronger economy and a housing recovery. Here’s a look back at the major moments from the past 12 months.
News this week of interest to homebuyers, home sellers, and the home-curious: Home prices in November rose by double digits across California, with the Bay Area leading the way. U.S. home sales, meanwhile, climbed to a three-year high. Also: A majority of homebuyers expect home prices to continue rising in 2013, creating an urgency to act fast.
The supply of homes for sale in the Bay Area remains severely constrained, but that hasn’t held back buyers. They’re snapping up properties at a pace we haven’t seen in at least six years.
Home sales remained strong in the Bay Area and Tahoe/Truckee as the end of the year draws near, with Pacific Union’s regional offices reporting solid results for the month of November as measured by the percentage of homes in contract.
News this week of interest to homebuyers, home sellers, and the home-curious: A limited supply of homes is holding back sales in Western states, even as the West posted strong sales results for October. The Federal Reserve, meanwhile, says housing markets across the country are improving, especially in the West.
Historical data from the Case-Shiller home price index reveals the extent of the housing market collapse five years ago as well as the strength of the recovery now under way.
Dire warnings of the approaching “fiscal cliff” in Washington obscure solid economic fundamentals in the Bay Area that point to continued economic recovery in 2013 and equally strong forecasts for our housing markets.