Tag Archives: prices

by

Home Prices Climb in Seattle and Beyond

King 5 Video

Home prices in 20 major U.S. cities increased 12.2 percent in May compared to a year ago, according to the Standard & Poor’s/Case-Shiller home price index released on Tuesday.

And according to the Northwest Multiple Listing Service, prices locally continue to rise. The median price for last month’s closed sales area-wide was $279,950, which is about 9.8 percent higher than the year-ago.

The red hot housing market is prompting some realtors to get creative to satisfy eager home buyers that are tired of losing bids on their home of their choice.

New figures from the MLS also show pending sales during June jumped 10.6 percent from twelve months ago as buyers scrambled to lock in loan rates and bid on a limited supply of homes.

View the local news on King 5…

by

Higher Mortgage Rates Don’t Mean Higher Home Prices

Mortgage rates have climbed by more than a percentage point since late April.

If history is any indication, the recent spike in mortgage rates is going to have little to no impact on home prices, according to a new report from Fannie Mae.

After looking at mortgage rates going back to 1990, Fannie Mae’s researchers came to the surprising conclusion that while rising rates were likely to hurt the number of home sales, they had virtually no impact on home prices.

See more…

by

Can You Afford to Wait to Buy a Home?

Home prices and mortgage interest rates are rising, and people looking to buy a home for the first time are feeling the pressure.

In this installment of MSN’s Buying Advice, agents, a housing analyst and an economist share what to expect this year, and the latest housing statistics are also included.

by

Price Per Square Foot Rising in Most Markets

As the economy continues to grow jobs, consumer confidence rises and residential rental rates increase, the demand for housing rises. Given a very tight inventory of builder-ready lots, new home construction is trailing demand. As a result, asking prices for both new and existing homes, and ultimately sales prices, are climbing. In some cities prices are literally rocketing.

Dr. Ted Jones is Stewart Title’s Vice President/Chief Economist and Director of Investor Relations. You may read this article on his blog…

by

Seattle Housing Market One of the Most Competitive in the U.S.

King 5 Video

Low inventory and interest rates are why Realtors call Seattle one of the most competitive housing markets in the country.

“Good houses are disappearing instantly, you look at it one day online and say honey maybe we should look at this Sunday. By then, it’s already pending,” said Charles Harper, a home buyer.

According to the Northwest Listing Service, the median price of homes in Snohomish County is up 14 percent, and up 10 percent in both King and Pierce Counties.

Read more details and watch the video…

by

Home Prices Rising at ‘Unsustainable’ Rate

Graph - up

Home prices have been soaring by double digits compared to last year’s numbers and the National Association of REALTORS® are calling the rises “unsustainable.”

The price for existing home sales surged 15.4 percent higher in May compared to last year.

“Some of the increases can be explained by the fact that it is recovering from an over-corrected situation,” says Lawrence Yun, NAR chief economist. “But with people’s income rising at only 1 or 2 percent and prices rising in double digits, it cannot continue.”

Read more…

by

Why Builders Don’t Fear Housing Bubble

Home prices are rising rapidly in many markets, but Pacific Coast Builders Confidence attendees name two main factors that should quell fears of a new bubble.

Read the details…

by

Why Some Buyers Are Feeling Like They Missed Out

Calculator

Mortgage rates and home prices are on the rise, and some home buyers who were waiting around for the housing market to reach bottom are realizing now they may have missed the boat.

Mortgage rates are inching up, with the 30-year fixed-rate mortgage averaging 3.91 percent last week — up from 3.3 percent in early May, according to mortgage giant Freddie Mac.

For more details…

by

The Case For Selling Your House Now

… Even If You Think Prices Are Going To Rise

Mortgage rates are on their way back up.

U.S. household net worth just hit an all-time high.

These are among the reasons why Zillow CEO Spencer Rascoff says it’s now time to sell your house.

Read his explanation and view the video clip on CNBC here.

by

Top 10 Home Price Spikes Across the U.S.

Home prices are rising across the country, but where are sellers cashing in big? Find out if your market’s ahead of the rest.

Read this list of top 10 markets with the biggest home price increases to see if now is the right time to sell.