RadarLogic RPX Reports Home Prices Lowest Since March 2003

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RadarLogic RPX Reports Home Prices Lowest Since March 2003

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

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RadarLogic RPX Reports Home Prices Lowest Since March 2003

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

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RadarLogic RPX Reports Home Prices Lowest Since March 2003

April 26, 2011 (Chris Moore)
mortgage-lowprices-image
Home prices in February hit their lowest mark since March of 2003 according to RadarLogic’s February 2011 RPX Monthly Housing Market Report. Tracking home prices in 25 metropolitan areas, the RPX Composite price fell to $178.12 per square foot in February, which is 36 percent lower than the all-time high of $278.32 per square foot on June 8, 2007.

RadarLogic utilizes a price per square foot metric for analyzing housing markets because it significantly reduces the influence of property size in overall housing pricing trends, which they feel can skew results.

Although the RPX Composite suggests that home prices may rise in the coming months with the onset of the spring buying season, RadarLogic says the housing market faces serious challenges due to an oversupply of homes on the market. This not only includes current housing inventory, but also foreclosures owned by banks and homes currently in the foreclosure process, which they predict will most likely prolong the period of oversupply.

Overall, prices are expected to remain below 2010 levels although there may be short-term seasonal gains.

“The current data suggest a continuing weak environment driven by too much supply and too few buyers. While we suspect it is harder to get a mortgage than it used to be, we also suspect the real problem is too few people want to, ”according to Michael Feder, Radar Logic’s CEO. “A house is not currently viewed as the safe investment it once was. When this psychology reverses, we will see a recovery. But that may not be for some time.”

The RPX Composite also reports that home sales in the 25 metropolitan areas increased 15.9 percent from January to February, however, year-over-year sales were still down by 1.2 percent.

More distressed properties were sold in February 2011 as 36 percent of all homes sold fell into that category. That compares to 30 percent in February 2010. The percentage of homes sold that were distressed properties were the highest amount in two years.

Tags: RadarLogic, RPX Composite, Monthly Housing Market Report, metropolitan areas, housing market, housing prices, home prices, oversupply, mortgage, home sales, distressed properties

Source:
RadarLogic

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Overall, prices are expected to remain below 2010 levels although there may be short-term seasonal gains.

The RPX Composite also reports that home sales in the 25 metropolitan areas increased 15.9 percent from January to February, however, year-over-year sales were still down by 1.2 percent.

Tags: RadarLogic, RPX Composite, Monthly Housing Market Report, metropolitan areas, housing market, housing prices, home prices, oversupply, mortgage, home sales, distressed properties

Source:
RadarLogic

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

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

HOME SELLING TIPS

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

Overall, prices are expected to remain below 2010 levels although there may be short-term seasonal gains.

The RPX Composite also reports that home sales in the 25 metropolitan areas increased 15.9 percent from January to February, however, year-over-year sales were still down by 1.2 percent.

Tags: RadarLogic, RPX Composite, Monthly Housing Market Report, metropolitan areas, housing market, housing prices, home prices, oversupply, mortgage, home sales, distressed properties

Source:
RadarLogic

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

HOME SELLING TIPS

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