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Housing Inventory Continues to Grow, List Prices Stable
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You're Now Reading:
Housing Inventory Continues to Grow, List Prices Stable
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 Inventory Continues to Grow, List Prices Stable
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May 21, 2012 (Chris Moore)

The inventory of available homes for sale in the United States grew for the second consecutive but still remained well below last year’s levels according to the latest housing data of 146 metro areas released by Realtor.com. Despite the huge drop in inventory from last year, list prices barely budged from last month and were actually lower than a year ago.

Total listings of existing homes increased 2.04 percent from March with a total of 1,840,803 single-family homes, condos, townhomes, and co-ops listed for sale in April compared to 1,804,040 in March. The total number of homes listed for sale was still 18.85 percent lower than a year ago.

The median list price for an existing home in April was $191,211, up 0.69 percent from $189,900 in March, but still 0.35 percent lower than in April 2011.

The Phoenix-Mesa, AZ, area continued their big comeback with the largest year-over-year price increase for the second consecutive month in April. Home prices in the area are up 25.01 percent over April of last year. Miami, which had held the top spot for the previous four months before Phoenix, had the second highest year-over-year gain of 15.06 percent.

Boise held on to the third slot for a second month with a 12.05 percent annual gain followed by Washington D.C. and the Santa Barbara-Santa Maria-Lompoc area in California where home prices have increased 9.76 and 9.38 percent over the last year, respectively.

The Wilmington-Newark Delaware-Maryland area posted the largest year-over-year decline in median list prices, falling 9.09 percent from a year ago followed by Toledo which saw list prices in their area fall 8.61 percent.

Rounding out the bottom five was Chicago with an 8.01 percent decline, followed by Philadelphia and Reading Pennsylvania where annual list prices declined by 7.65 and 7.37 percent, respectively. Chicago had held the bottom spot on the list for the previous three months.

Only three of the 146 metropolitan areas in the survey registered double digit increases in year-over-year listing prices, down from 24 the previous month. List prices are not necessarily indicative of selling prices, but may signal market sentiment by sellers. All together, seventy-two of the areas saw an increase in list prices.

The average number of days that an existing home spent on the market fell to 84 in April from 89 in March and was down from 95 days in April of last year. Twenty-three out of the 146 metropolitan areas required 100 days or more to sell a home, down from 44 in March.

Residents selling their homes in the southern region of South Carolina continued to wait the longest to sell their homes, averaging 161 days on the market, down from 169 days the previous month. Residents in Oakland had the shortest wait for the seventh consecutive month, averaging 20 days on the market, down from 28 days the previous month.

Tags: housing inventory, listed homes, home prices, median sales price, average list price

Source:
Realtor.com

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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 LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
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LOANRATEUPDATE
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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 LoanRateUpdate. 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
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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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Tips
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Tips
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Calculator
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Rates

May 21, 2012 (Chris Moore)

The inventory of available homes for sale in the United States grew for the second consecutive but still remained well below last year’s levels according to the latest housing data of 146 metro areas released by Realtor.com. Despite the huge drop in inventory from last year, list prices barely budged from last month and were actually lower than a year ago.

Total listings of existing homes increased 2.04 percent from March with a total of 1,840,803 single-family homes, condos, townhomes, and co-ops listed for sale in April compared to 1,804,040 in March. The total number of homes listed for sale was still 18.85 percent lower than a year ago.

The median list price for an existing home in April was $191,211, up 0.69 percent from $189,900 in March, but still 0.35 percent lower than in April 2011.

The Phoenix-Mesa, AZ, area continued their big comeback with the largest year-over-year price increase for the second consecutive month in April. Home prices in the area are up 25.01 percent over April of last year. Miami, which had held the top spot for the previous four months before Phoenix, had the second highest year-over-year gain of 15.06 percent.

Boise held on to the third slot for a second month with a 12.05 percent annual gain followed by Washington D.C. and the Santa Barbara-Santa Maria-Lompoc area in California where home prices have increased 9.76 and 9.38 percent over the last year, respectively.

The Wilmington-Newark Delaware-Maryland area posted the largest year-over-year decline in median list prices, falling 9.09 percent from a year ago followed by Toledo which saw list prices in their area fall 8.61 percent.

Rounding out the bottom five was Chicago with an 8.01 percent decline, followed by Philadelphia and Reading Pennsylvania where annual list prices declined by 7.65 and 7.37 percent, respectively. Chicago had held the bottom spot on the list for the previous three months.

Only three of the 146 metropolitan areas in the survey registered double digit increases in year-over-year listing prices, down from 24 the previous month. List prices are not necessarily indicative of selling prices, but may signal market sentiment by sellers. All together, seventy-two of the areas saw an increase in list prices.

The average number of days that an existing home spent on the market fell to 84 in April from 89 in March and was down from 95 days in April of last year. Twenty-three out of the 146 metropolitan areas required 100 days or more to sell a home, down from 44 in March.

Residents selling their homes in the southern region of South Carolina continued to wait the longest to sell their homes, averaging 161 days on the market, down from 169 days the previous month. Residents in Oakland had the shortest wait for the seventh consecutive month, averaging 20 days on the market, down from 28 days the previous month.

Tags: housing inventory, listed homes, home prices, median sales price, average list price

Source:
Realtor.com

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
LOANRATEUPDATE
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 LoanRateUpdate. 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
LOANRATEUPDATE
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 21, 2012 (Chris Moore)

The inventory of available homes for sale in the United States grew for the second consecutive but still remained well below last year’s levels according to the latest housing data of 146 metro areas released by Realtor.com. Despite the huge drop in inventory from last year, list prices barely budged from last month and were actually lower than a year ago.

Total listings of existing homes increased 2.04 percent from March with a total of 1,840,803 single-family homes, condos, townhomes, and co-ops listed for sale in April compared to 1,804,040 in March. The total number of homes listed for sale was still 18.85 percent lower than a year ago.

The median list price for an existing home in April was $191,211, up 0.69 percent from $189,900 in March, but still 0.35 percent lower than in April 2011.

The Phoenix-Mesa, AZ, area continued their big comeback with the largest year-over-year price increase for the second consecutive month in April. Home prices in the area are up 25.01 percent over April of last year. Miami, which had held the top spot for the previous four months before Phoenix, had the second highest year-over-year gain of 15.06 percent.

Boise held on to the third slot for a second month with a 12.05 percent annual gain followed by Washington D.C. and the Santa Barbara-Santa Maria-Lompoc area in California where home prices have increased 9.76 and 9.38 percent over the last year, respectively.

The Wilmington-Newark Delaware-Maryland area posted the largest year-over-year decline in median list prices, falling 9.09 percent from a year ago followed by Toledo which saw list prices in their area fall 8.61 percent.

Rounding out the bottom five was Chicago with an 8.01 percent decline, followed by Philadelphia and Reading Pennsylvania where annual list prices declined by 7.65 and 7.37 percent, respectively. Chicago had held the bottom spot on the list for the previous three months.

Only three of the 146 metropolitan areas in the survey registered double digit increases in year-over-year listing prices, down from 24 the previous month. List prices are not necessarily indicative of selling prices, but may signal market sentiment by sellers. All together, seventy-two of the areas saw an increase in list prices.

The average number of days that an existing home spent on the market fell to 84 in April from 89 in March and was down from 95 days in April of last year. Twenty-three out of the 146 metropolitan areas required 100 days or more to sell a home, down from 44 in March.

Residents selling their homes in the southern region of South Carolina continued to wait the longest to sell their homes, averaging 161 days on the market, down from 169 days the previous month. Residents in Oakland had the shortest wait for the seventh consecutive month, averaging 20 days on the market, down from 28 days the previous month.

Tags: housing inventory, listed homes, home prices, median sales price, average list price

Source:
Realtor.com

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
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 LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
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.