Region's Home Prices Continue To Fall; Some Pockets Thrive
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The slump in home prices in the Washington region is deepening and spreading, according to data compiled for The Washington Post that shows that for the first time, every local county saw a decrease in prices for a significant period of last year.
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Even borrowers with strong credit are feeling the pinch as home values fall and payments rise. Tuesday, several banks are expected to offer assistance to ease the burden.
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A drop in the pace of home sales was not enough to keep housing from getting even more expensive across Massachusetts last month.
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Price drops and declining sales in the Massachusetts housing market moderated in October, two housing reports showed yesterday, suggesting that the monthslong slump in the real estate market may be nearing its end.
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The state&#39;s housing market continued to hit record levels last month as a dip in mortgage rates and improved inventories spurred many buyers to action, according to the Massachusetts Association of Realtors.
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Bee Staff Writer. The housing market throttled back in parts of California last month, but it sped ahead of last year&#39;s pace here, with prices reaching new highs across the capital region.
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An Associated Press analysis of new census data provides insight into the reasons for the slumping housing market: Since 1990, homeowners have faced a growing gap between their incomes and the price of their homes.
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Real estate prices depend a lot on local conditions.
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Home prices fell 6.7 percent in October, compared with a year ago, according to the S&P/Case-Shiller 10-city home-price index, a record drop as housing markets continued to deteriorate.
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Investor's Business Daily - Single-family prices are up 3% nationally, year over year, but that&#39;s the weakest gain in a decade, researcher Global Insight said. The percentage of homes it deems &quot;overvalued&quot; fell to 14% in Q1 from 17% in Q4. Hot markets like California, Florida, New York and New England saw the broadest declines, as did weak areas of the industrial Midwest. Texas was home to the most &quot;undervalued&quot; markets.
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Prices of homes in 20 major U.S. metropolitan areas fell 4.4 percent for the 12 months through August.
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Real estate, like politics, is local. In a year when the median price of a single-family home in Massachusetts fell nearly 6 percent -- the biggest drop in a decade -- what you paid depended on where you shopped.
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The economy has slowed down. Gasoline prices hit new highs in early August. And the once-soaring housing sector is rapidly losing altitude, raising concerns it could drag the whole country into a recession.
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WASHINGTON -- Sales of new homes fell in May for the fourth time in the past five months, providing further evidence of a continued slump in housing.
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House price inflation appears to have reached a plateau, according to government statistics.
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RIVERVIEW, Fla., Jan. 25 -- Piece by piece, as the economy has faltered and as the subprime mortgage crisis has taken hold, Ivan Toledo's grasp on his job, his house -- his entire middle-class life -- has come undone.
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The region's booming growth has counterbalanced trouble elsewhere. But the long dry spell is taking a toll.