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Tuesday, April 20, 2010

Spanish home prices fall 4.5%, attempt to stabilize


House prices fell 6.2% in the fourth quarter and 7% in the third quarter, according to data from the Spanish Housing Ministry. Housing data can be erratic in Spain, but generally, there appear signs that price pressure is easing somewhat from the worst of the crisis that began when the market began to crumble in the second half of 2008.
A year ago, those house prices were down 9.7%.
Meanwhile, the National Statistic Office last week reported a 7.2% increase in February home sales against the prior month and 18.7% on an annual basis. It was the second straight month of gains after an increase of 2.1% in January.
The government's medium-term plan is to decrease the deficit to 3% by 2013, in line with its commitments under the European Union's Stability and Growth Pact. In order to achieve this, it plans a fiscal adjustment of nearly 10% of GDP.

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Wednesday, March 24, 2010

Home prices fell 0.6 percent in January


House prices dipped in January, as the housing real estate market continues its rocky recovery, a report released Tuesday showed.
House prices fell 0.6 percent on a time adjusted basis from December to January, according to the Federal Housing Finance Agency's House Price Index. That's a lesser drop than the downwardly revised decline of 2 percent from November to December, the index showed.
The index had risen for two months in a row before its December drop. The index is at present 13.2 percent below its April 2007 peak.
For the 12-month period ending in January, home prices fell 3.3 percent.
Dropping house prices can impede the nation's economic recovery. For most Americans, their house is their largest asset, so as values climb homeowners feel wealthier and more comfortable spending.
Rising prices will also aid restore equity for homeowners who currently owe more on their mortgages than their properties are value.

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Tuesday, March 23, 2010

Stock market does not fear housing reports


The housing market is still in bad shape, but investors do not seem to mind.
Although this week brings reports on sales of new and existing homes in February, there are no signs of heightened concern in the stock market. That's a big change from one and two years ago, when the numbers were frequently horrific enough to send investors running.
In recent months, traders have shrugged off some unattractive figures. The reason: Steadying home prices are good sufficient for now.
Even hesitant stability is welcome news after price drops of more than 50% in some markets. The number of foreclosures is still going up, but at a slower pace. That's letting the real estate market absorb the added supply without sending prices increases.
Many investors think that housing won't cause more enormous problems for the economy if prices hold.

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Thursday, March 18, 2010

Consumer confidence hit as house prices fall

Consumers' confidence in the housing market has taken a knock following new reports of price falls, research has shown.
Only 49% of people think it is a great time to buy a property, down from 58% in December and the first time the proportion has fallen below half since the end of 2008, according to the Building Societies Association (BSA).
Nearly three out of 10 people also said they neither agreed nor disagree that it was a good time to enter the property market or trade up the ladder, the maximum proportion since the index was first launched in June 2008.
The research was carried out soon after both Nationwide and Halifax reported house price falls of 1% and 1.5% respectively for February, increasing speculation that the housing market recovery may be running out of steam.
Overall, people are predicting average rises of 2.2% during the upcoming year, down from expectations of a 3% rise in December.

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Tuesday, March 16, 2010

New-home prices rising in Canada, but moderately slowly


The latest data shows a steady increase in prices for new homes in Canada, though lacking the dramatic kind of gains being seen in the resale market.
Statistics Canada's new-home price index, released Thursday, rose 0.4 per cent in January from the month before, the equal growth rate for the third consecutive month. It also marked the seventh straight monthly raise.
Home prices were up 0.1 per cent on an yearly basis in January, compared with a 0.9 per cent decline in December 2009.
"This was the first year-over-year increase since December 2008, mostly as a result of price reduces in Western Canada that were less pronounced this January than in previous months," Statistics Canada said in the report.
The largest monthly decrease in new-housing prices was recorded in the St. Catharines-Niagara region of Ontario, where prices fell by 0.4 per cent. Home prices in Charlottetown fell 0.2 per cent and in New Brunswick, Saint John, Fredericton and Moncton each registered rejects of 0.2 per cent.

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Friday, March 12, 2010

Canada new home prices climb again in Jan


New house prices in Canada kept climbing in January, rising 0.4 percent from the previous month as expected, according to Statistics Canada on Thursday.
On a monthly basis, the housing-only part of the new housing price index rose by 0.5 percent and the land-only component edged up 0.1 percent.
New home prices firmed 0.1 percent in January from a year earlier, the first year-over-year increase since December 2008.
Despite nationwide gains, prices have been falling in Western Canada, which saw huge price spikes prior to the current economic crisis.
The Canadian housing market slumped during the recession last year but never underwent a U.S. style collapse. Strong sales and price gains in current months have led to worries of a made-in-Canada housing bubble and prompted the government to tighten mortgage lending rules in February.

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Monday, March 8, 2010

Northern Ireland house prices 'still falling'


Its most recent survey which is paid for by the Ulster Bank - showed house sales are increasing but remain a long way from "normal levels".
Since the peak of the property boom in the summer of 2007, its estimated that home prices in Northern Ireland have fallen by around 40 per cent.
A spokesman said the local economy was facing a sluggish uneven recovery.
There is no hope for a 'fast fix' in the housing markets.
RICS Northern Ireland housing spokesman Tom McClelland said the number of houses being bought and sold was up - but slightly - and levels were far from normal.
Housing transaction levels, which are the most significant factor in the housing market recovery, are rising, but at a marginal rate, and are still a long way off what you could call normal levels.

posted by World House Info @ 11:34 PM permanent link   | Post a Comment | 0 comments

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