RISMEDIA, December 1, 2006— The Commercial Leading Indicator for Brokerage Activity, a leading indicator for the commercial real estate market, has increased for six consecutive quarters showing that continued growth can be expected in commercial real estate sectors, according to the National Association of Realtors.
For more information, click here.
30 November 2006
24 November 2006
U.S. LEADING INDEX CONTINUES UPWARD TREND
The U.S. leading index, a key barometer of economic conditions, increased for the second consecutive month in October, The Conference Board recently reported. The index increased 0.2 percent last month and now stands at 138.3 (1996=100), 0.6 percent below the high of 139.1 reached in January.
According to the report, the leading index has declined in five of the last nine months and signals slow economic growth in the coming months. Throughout the year, declining housing permits have negatively impacted the leading index, offsetting positive contributors such as real money supply and consumer expectations. The coincident and lagging indexes, which measure current and past economic activity, respectively, also increased in October. The coincident index edged up 0.1 percent to 123.7, while the lagging index rose 0.2 percent to 124.1.
According to the report, the leading index has declined in five of the last nine months and signals slow economic growth in the coming months. Throughout the year, declining housing permits have negatively impacted the leading index, offsetting positive contributors such as real money supply and consumer expectations. The coincident and lagging indexes, which measure current and past economic activity, respectively, also increased in October. The coincident index edged up 0.1 percent to 123.7, while the lagging index rose 0.2 percent to 124.1.
LUXURY HOME VALUES HIT RECORD HIGHS IN THREE CALIFORNIA MARKETS
The value of high-end homes in Los Angeles, San Francisco, and San Diego posted record highs in the third quarter of 2006, according to the First Republic Prestige Home Index™, which tracks homes valued at more than $1 million in key California markets. Despite the record highs, rising inventories and longer sales cycles kept luxury home price appreciation to single digits in all three markets. In Los Angeles, which previously experienced 14 consecutive quarters of double-digit, year-over-year price appreciation, luxury home values increased 4.4 percent to $2.37 million.
The values of luxury homes in San Diego and San Francisco also recorded modest gains last quarter, rising 5.4 percent and 4 percent, respectively. According to the index, the average luxury home in San Francisco is now valued at a record $2.96 million, while the average luxury home value in San Diego is $2.18 million.
The values of luxury homes in San Diego and San Francisco also recorded modest gains last quarter, rising 5.4 percent and 4 percent, respectively. According to the index, the average luxury home in San Francisco is now valued at a record $2.96 million, while the average luxury home value in San Diego is $2.18 million.
21 November 2006
Is the worst over for the housing bust?
Economists say 'yes' in new wsj.com survey but their views on home prices vary wildly.
While 20 economists predicted home prices would rise next year, 24 forecast a decline. Just eight of the economists forecast gains greater than 2.1%, which is their average forecast for consumer-price inflation through mid-2007. The Ofheo index, which is closely watched by economists, has never posted a year-to-year decline.
Click here for the article
While 20 economists predicted home prices would rise next year, 24 forecast a decline. Just eight of the economists forecast gains greater than 2.1%, which is their average forecast for consumer-price inflation through mid-2007. The Ofheo index, which is closely watched by economists, has never posted a year-to-year decline.
Click here for the article
13 November 2006
Housing Market Expected to 'Coast' into 2007 with Modest Price Gains
RISMEDIA, November 13, 2006—Following a correction in home sales and prices in 2006, existing-home sales are expected to "coast" at roughly the same level next year, although there will be some additional decline in the new-home market, according to a forecast released Saturday at the National Association of Realtors(R) Conference & Expo in New Orleans.
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"We now have the most favorable market for home buyers in several years, and most sellers -- who've been in their home for a normal period of homeownership -- are still seeing very healthy returns on their investment. Conditions for buyers have improved because sellers are flexible now and mortgage interest rates are near historic lows. The market promises to be more balanced between buyers and sellers by early spring, supporting future price growth," Lereah said.
Click here for the article.
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"We now have the most favorable market for home buyers in several years, and most sellers -- who've been in their home for a normal period of homeownership -- are still seeing very healthy returns on their investment. Conditions for buyers have improved because sellers are flexible now and mortgage interest rates are near historic lows. The market promises to be more balanced between buyers and sellers by early spring, supporting future price growth," Lereah said.
Click here for the article.
07 November 2006
NAR Says: The time to buy is NOW...
NAR Bullish on Housing Market, Advises Consumers to Take Action Now while Conditions Still Favorable
National Association of Realtors launches national campaign to urge home buyers to buy now before market changes."The market is much better than you might hear or read. Consumers should take advantage of this perfect alignment of low rates and extraordinary inventory before market conditions change," Stevens said.
Click here or on the link above to read the article.
04 November 2006
Local Market Report
For the first time in over a decade, we have seen a drop in median price (current 12 months versus previous 12 months) in Bodega Bay. We'll have to see if this is a trend or one-time occurance but is was significant (-2% for Bodega Bay, -7% for Bodega Harbour) and could indicate a levelling off of home prices here on the Coast.
I'm going to keep the full summaries on my website and you can visit that webpage directly here - feel free to bookmark. Or, look for the Market Summary link at www.bodegabayproperties.com in the lefthand frame.
I'm going to keep the full summaries on my website and you can visit that webpage directly here - feel free to bookmark. Or, look for the Market Summary link at www.bodegabayproperties.com in the lefthand frame.
02 November 2006
PENDING HOME SALES INDICATE STEADY MARKET IN COMING MONTHS
From CAR, 11/01/06:
Home sales will remain stable in the months ahead, according to NAR's most recent Pending Home Sales Index (PHSI). In September, the PHSI stood at 109.1, down 1.1 percent from the previous month and down 13.6 percent from September 2005. The index gauges home sales activity for upcoming months based on the number of transactions that have signed contracts but are not yet closed. A PHSI of 100 or more generally indicates a high level of homes sales activity.
"The present level of home sales is relatively high in historic terms, and we can
expect generally minor movements around this level. We don't expect to see any changes of note until early next year when we're likely to see a modest lift to home sales," said NAR Chief Economist David Lereah. "The market currently is a little lower than expected as buyers try to time their entry. In the meantime, there's some buildup in demand that will move when consumers realize that conditions are optimal for them."
The PHSI declined across the nation in September compared with the readings a year ago. On a regional basis, the PHSI was highest in the South, where it declined 9 percent to 125. In the West, the index fell 15.2 percent to 112.5. The PHSI also declined in the Midwest and Northeast regions, falling to 96.4 and 89.9, respectively.
Home sales will remain stable in the months ahead, according to NAR's most recent Pending Home Sales Index (PHSI). In September, the PHSI stood at 109.1, down 1.1 percent from the previous month and down 13.6 percent from September 2005. The index gauges home sales activity for upcoming months based on the number of transactions that have signed contracts but are not yet closed. A PHSI of 100 or more generally indicates a high level of homes sales activity.
"The present level of home sales is relatively high in historic terms, and we can
expect generally minor movements around this level. We don't expect to see any changes of note until early next year when we're likely to see a modest lift to home sales," said NAR Chief Economist David Lereah. "The market currently is a little lower than expected as buyers try to time their entry. In the meantime, there's some buildup in demand that will move when consumers realize that conditions are optimal for them."
The PHSI declined across the nation in September compared with the readings a year ago. On a regional basis, the PHSI was highest in the South, where it declined 9 percent to 125. In the West, the index fell 15.2 percent to 112.5. The PHSI also declined in the Midwest and Northeast regions, falling to 96.4 and 89.9, respectively.
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