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Home Prices Fall to October 2002 Levels
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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.
READY TO SPEAK TO A PROFESSIONAL?
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Home Prices Fall to October 2002 Levels
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
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.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Home Prices Fall to October 2002 Levels

January 25, 2012 (Jeff Alan)

The national average home price fell 0.8 percent to $200,000 for transactions completed in October according to Lender Processing Services (LPS) Home Price Index (HPI) for January leaving home prices at October 2002 levels.

The price decline follows a 1.2 percent decline in September and is consistent with the seasonal fall patterns experienced by the housing market since 2009. The average home price was 4.8 percent below October 2010’s prices and is 2.7 percent below the average price of a home at the beginning of 2011. It was the fifth consecutive month that the Index posted a decline in home prices.

The LPS HPI summarizes national home prices by tracking monthly prices in over 13,500 ZIP codes covering 437 Metropolitan Statistical Areas (MSAs) and covers about 75 percent of the single-family properties in the U.S.

Average home prices peaked at $282,000 in June 2006 with the most rapid decline in home prices occurring between July 31, 2007, and December, 2009, when prices declined $56,000 from the market’s peak, an annual decline of 13.8 percent. Since that time, the annual rate of decline has slowed to an average of 4.2 percent, with home prices declining an additional $26,000 during that time.

The total value of U.S. housing inventory covered by the Index stood at $10.6 trillion at the market peak and was valued at $7.5 trillion at the end of October, a decline of 30.1 percent.

Twenty-four of the 26 largest MSAs in the Index posted a monthly decline in prices with the largest losses posted in Atlanta (-3.9%), Seattle (-1.4%), Chicago (-1.3%) and St. Louis (-1.3%). Phoenix (+0.5%) was the only MSA to post an increase and Miami remained unchanged from the previous month.

Since the beginning of 2011 through the end of October, only 8 of the 26 largest MSAs have posted an increase in average home prices with largest gains posted in Detroit (+9.6%), Pittsburgh (+2.2%) and Cincinnati (+1.3%), while the largest losses have occurred in Atlanta (-21.8%), Los Angeles (-5.1%), San Francisco (-5.1%) and Seattle (-5.1%).

Year-over-year, only three of the 26 MSAs have posted an increase in average home prices led again by Detroit with a gain of 7.0 percent. The largest decline in home prices was also in Atlanta where prices have fallen 24.3 percent in the last year.

Average home prices in four MSA’s, Detroit, Atlanta, Cleveland and Phoenix, are currently 42.4, 30.2, 9.3 and 7.8 percent below January 2000 levels, respectively.

Early, partial data for November’s sales indicates that a likely home price decline of approximately 0.5 percent will be posted for the month.

Tags: average home price, home price index, market peak, MSAs, rapid price decline

Source:
LPS

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What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
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DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
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HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
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January 25, 2012 (Jeff Alan)

The national average home price fell 0.8 percent to $200,000 for transactions completed in October according to Lender Processing Services (LPS) Home Price Index (HPI) for January leaving home prices at October 2002 levels.

The price decline follows a 1.2 percent decline in September and is consistent with the seasonal fall patterns experienced by the housing market since 2009. The average home price was 4.8 percent below October 2010’s prices and is 2.7 percent below the average price of a home at the beginning of 2011. It was the fifth consecutive month that the Index posted a decline in home prices.

The LPS HPI summarizes national home prices by tracking monthly prices in over 13,500 ZIP codes covering 437 Metropolitan Statistical Areas (MSAs) and covers about 75 percent of the single-family properties in the U.S.

Average home prices peaked at $282,000 in June 2006 with the most rapid decline in home prices occurring between July 31, 2007, and December, 2009, when prices declined $56,000 from the market’s peak, an annual decline of 13.8 percent. Since that time, the annual rate of decline has slowed to an average of 4.2 percent, with home prices declining an additional $26,000 during that time.

The total value of U.S. housing inventory covered by the Index stood at $10.6 trillion at the market peak and was valued at $7.5 trillion at the end of October, a decline of 30.1 percent.

Twenty-four of the 26 largest MSAs in the Index posted a monthly decline in prices with the largest losses posted in Atlanta (-3.9%), Seattle (-1.4%), Chicago (-1.3%) and St. Louis (-1.3%). Phoenix (+0.5%) was the only MSA to post an increase and Miami remained unchanged from the previous month.

Since the beginning of 2011 through the end of October, only 8 of the 26 largest MSAs have posted an increase in average home prices with largest gains posted in Detroit (+9.6%), Pittsburgh (+2.2%) and Cincinnati (+1.3%), while the largest losses have occurred in Atlanta (-21.8%), Los Angeles (-5.1%), San Francisco (-5.1%) and Seattle (-5.1%).

Year-over-year, only three of the 26 MSAs have posted an increase in average home prices led again by Detroit with a gain of 7.0 percent. The largest decline in home prices was also in Atlanta where prices have fallen 24.3 percent in the last year.

Average home prices in four MSA’s, Detroit, Atlanta, Cleveland and Phoenix, are currently 42.4, 30.2, 9.3 and 7.8 percent below January 2000 levels, respectively.

Early, partial data for November’s sales indicates that a likely home price decline of approximately 0.5 percent will be posted for the month.

Tags: average home price, home price index, market peak, MSAs, rapid price decline

Source:
LPS

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
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INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

January 25, 2012 (Jeff Alan)

The national average home price fell 0.8 percent to $200,000 for transactions completed in October according to Lender Processing Services (LPS) Home Price Index (HPI) for January leaving home prices at October 2002 levels.

The price decline follows a 1.2 percent decline in September and is consistent with the seasonal fall patterns experienced by the housing market since 2009. The average home price was 4.8 percent below October 2010’s prices and is 2.7 percent below the average price of a home at the beginning of 2011. It was the fifth consecutive month that the Index posted a decline in home prices.

The LPS HPI summarizes national home prices by tracking monthly prices in over 13,500 ZIP codes covering 437 Metropolitan Statistical Areas (MSAs) and covers about 75 percent of the single-family properties in the U.S.

Average home prices peaked at $282,000 in June 2006 with the most rapid decline in home prices occurring between July 31, 2007, and December, 2009, when prices declined $56,000 from the market’s peak, an annual decline of 13.8 percent. Since that time, the annual rate of decline has slowed to an average of 4.2 percent, with home prices declining an additional $26,000 during that time.

The total value of U.S. housing inventory covered by the Index stood at $10.6 trillion at the market peak and was valued at $7.5 trillion at the end of October, a decline of 30.1 percent.

Twenty-four of the 26 largest MSAs in the Index posted a monthly decline in prices with the largest losses posted in Atlanta (-3.9%), Seattle (-1.4%), Chicago (-1.3%) and St. Louis (-1.3%). Phoenix (+0.5%) was the only MSA to post an increase and Miami remained unchanged from the previous month.

Since the beginning of 2011 through the end of October, only 8 of the 26 largest MSAs have posted an increase in average home prices with largest gains posted in Detroit (+9.6%), Pittsburgh (+2.2%) and Cincinnati (+1.3%), while the largest losses have occurred in Atlanta (-21.8%), Los Angeles (-5.1%), San Francisco (-5.1%) and Seattle (-5.1%).

Year-over-year, only three of the 26 MSAs have posted an increase in average home prices led again by Detroit with a gain of 7.0 percent. The largest decline in home prices was also in Atlanta where prices have fallen 24.3 percent in the last year.

Average home prices in four MSA’s, Detroit, Atlanta, Cleveland and Phoenix, are currently 42.4, 30.2, 9.3 and 7.8 percent below January 2000 levels, respectively.

Early, partial data for November’s sales indicates that a likely home price decline of approximately 0.5 percent will be posted for the month.

Tags: average home price, home price index, market peak, MSAs, rapid price decline

Source:
LPS

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

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