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LPS: January Home Prices Fall 0.9 Percent
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.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
LPS: January Home Prices Fall 0.9 Percent
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
LPS: January Home Prices Fall 0.9 Percent

March 13, 2012 (Jeff Alan)

The national average home price fell 0.9 percent to $195,000 for transactions completed in January according to the latest Lender Processing Services (LPS) Home Price Index (HPI), leaving home prices at a level last seen in March of 2003.

It was the second consecutive decline in monthly home prices and follows a revised 0.4 percent decline in December. The average home price was 3.2 percent below January 2011’s prices and 26.4 percent below the market peak in June 2006.

Early, partial data from February’s sales suggest that the decline in home prices will continue with a likely price decline of approximately 0.3 percent expected for the month. The decline in home prices continues a seasonal fall/winter pattern that has been experienced by the housing market since 2009.

The LPS HPI was updated this month to include the impact of short sale and foreclosure price data on estimates of normal market prices and expanded geographic coverage with the inclusion of FHFA’s HPI data, increasing the number of Metropolitan Statistical Areas (MSAs) it tracks from 436 to approximately 585.

Previous data showed that the most rapid decline in home prices occurred between July 31, 2007, and January, 2009, with an annual rate of decline of 13.8 percent. However, new data suggests that the most rapid decline occurred from June 2007 through January 2008 at an annual rate of decline of 10.9 percent followed by a slower period of decline between January 2009 and May 2010, in which the annual rate of decline was 1.8 percent. The slower rate of decline was likely a result of the effects brought on by the home buyer tax credit programs which were introduced during that time period. Since that time, the fall in home prices has accelerated to an annual rate of decline of 5.2 percent.

Twenty-four of the 26 largest MSAs in the Index posted a monthly decline in average prices with the largest losses posted in Chicago (-2.1%), Cleveland (-1.9%) and San Francisco (-1.6%). Washington D.C. (+0.1%) was the only MSA to post an increase from December to January, while prices in Cincinnati remained unchanged.

Year-over-year, only four of the 26 largest MSAs posted an increase in average home prices with the largest gains posted in Pittsburgh (+3.1%) and Cincinnati (+1.2%) while the largest losses occurred in Atlanta (-10.6%), St. Louis (-8.3%) and Chicago (-7.8%).

Average home prices in three MSA’s, Detroit, Atlanta, and Cleveland are currently 30.3, 11.8, and 8.5 percent below January 2000 levels, respectively.

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

Source:
LPS

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.
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.
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 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.
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A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
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 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

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March 13, 2012 (Jeff Alan)

The national average home price fell 0.9 percent to $195,000 for transactions completed in January according to the latest Lender Processing Services (LPS) Home Price Index (HPI), leaving home prices at a level last seen in March of 2003.

It was the second consecutive decline in monthly home prices and follows a revised 0.4 percent decline in December. The average home price was 3.2 percent below January 2011’s prices and 26.4 percent below the market peak in June 2006.

Early, partial data from February’s sales suggest that the decline in home prices will continue with a likely price decline of approximately 0.3 percent expected for the month. The decline in home prices continues a seasonal fall/winter pattern that has been experienced by the housing market since 2009.

The LPS HPI was updated this month to include the impact of short sale and foreclosure price data on estimates of normal market prices and expanded geographic coverage with the inclusion of FHFA’s HPI data, increasing the number of Metropolitan Statistical Areas (MSAs) it tracks from 436 to approximately 585.

Previous data showed that the most rapid decline in home prices occurred between July 31, 2007, and January, 2009, with an annual rate of decline of 13.8 percent. However, new data suggests that the most rapid decline occurred from June 2007 through January 2008 at an annual rate of decline of 10.9 percent followed by a slower period of decline between January 2009 and May 2010, in which the annual rate of decline was 1.8 percent. The slower rate of decline was likely a result of the effects brought on by the home buyer tax credit programs which were introduced during that time period. Since that time, the fall in home prices has accelerated to an annual rate of decline of 5.2 percent.

Twenty-four of the 26 largest MSAs in the Index posted a monthly decline in average prices with the largest losses posted in Chicago (-2.1%), Cleveland (-1.9%) and San Francisco (-1.6%). Washington D.C. (+0.1%) was the only MSA to post an increase from December to January, while prices in Cincinnati remained unchanged.

Year-over-year, only four of the 26 largest MSAs posted an increase in average home prices with the largest gains posted in Pittsburgh (+3.1%) and Cincinnati (+1.2%) while the largest losses occurred in Atlanta (-10.6%), St. Louis (-8.3%) and Chicago (-7.8%).

Average home prices in three MSA’s, Detroit, Atlanta, and Cleveland are currently 30.3, 11.8, and 8.5 percent below January 2000 levels, respectively.

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

Source:
LPS

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.
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.
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 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.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
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 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

March 13, 2012 (Jeff Alan)

The national average home price fell 0.9 percent to $195,000 for transactions completed in January according to the latest Lender Processing Services (LPS) Home Price Index (HPI), leaving home prices at a level last seen in March of 2003.

It was the second consecutive decline in monthly home prices and follows a revised 0.4 percent decline in December. The average home price was 3.2 percent below January 2011’s prices and 26.4 percent below the market peak in June 2006.

Early, partial data from February’s sales suggest that the decline in home prices will continue with a likely price decline of approximately 0.3 percent expected for the month. The decline in home prices continues a seasonal fall/winter pattern that has been experienced by the housing market since 2009.

The LPS HPI was updated this month to include the impact of short sale and foreclosure price data on estimates of normal market prices and expanded geographic coverage with the inclusion of FHFA’s HPI data, increasing the number of Metropolitan Statistical Areas (MSAs) it tracks from 436 to approximately 585.

Previous data showed that the most rapid decline in home prices occurred between July 31, 2007, and January, 2009, with an annual rate of decline of 13.8 percent. However, new data suggests that the most rapid decline occurred from June 2007 through January 2008 at an annual rate of decline of 10.9 percent followed by a slower period of decline between January 2009 and May 2010, in which the annual rate of decline was 1.8 percent. The slower rate of decline was likely a result of the effects brought on by the home buyer tax credit programs which were introduced during that time period. Since that time, the fall in home prices has accelerated to an annual rate of decline of 5.2 percent.

Twenty-four of the 26 largest MSAs in the Index posted a monthly decline in average prices with the largest losses posted in Chicago (-2.1%), Cleveland (-1.9%) and San Francisco (-1.6%). Washington D.C. (+0.1%) was the only MSA to post an increase from December to January, while prices in Cincinnati remained unchanged.

Year-over-year, only four of the 26 largest MSAs posted an increase in average home prices with the largest gains posted in Pittsburgh (+3.1%) and Cincinnati (+1.2%) while the largest losses occurred in Atlanta (-10.6%), St. Louis (-8.3%) and Chicago (-7.8%).

Average home prices in three MSA’s, Detroit, Atlanta, and Cleveland are currently 30.3, 11.8, and 8.5 percent below January 2000 levels, respectively.

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

Source:
LPS

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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.
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.
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 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.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
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 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