Survey: U.S. Housing May Not Recover Until 2014

A survey by Trulia Inc. and RealtyTrac Inc. released yesterday showed that more than half of U.S. homeowners and renters say that housing will not recover until at least 2014, reflecting a deepening pessimism about the real estate market, Bloomberg News reported yesterday. The survey, taken in April, found that 54 percent of respondents do not expect a recovery for at least three years, up from 34 percent in November, the two real estate data companies said today. Those who see a turnaround by the end of next year fell to 15 percent from 27 percent. The housing market is weakening as near record-low interest rates and falling prices fail to boost demand after the expiration of a federal tax credit for homebuyers last year. Values will come under more pressure as 1.8 million properties that are delinquent or in foreclosure are added to the inventory of unsold homes, according to a March estimate by CoreLogic Inc., a real estate information firm in Santa Ana, Calif.

http://www.bloomberg.com/news/print/2011-05-18/housing-in-u-s-may-not-recover-until-at-least-2014-homeowner-survey-says.html

Home Values

According to CoreLogic’s study, the five states with the greatest home price depreciation in January were: Idaho (-15.7 percent), Alabama (-12.1 percent), Arizona (-11 percent), Oregon (-9.9 percent), and Utah (-9.8 percent).


The five states with the highest appreciation were: West Virginia (+5.5 percent), North Dakota (+3.3 percent), New York (+1.9 percent), Hawaii (+0.7 percent), and Wyoming (+0.2 percent).

Nationwide, CoreLogic says home prices have dropped 32.8 percent from their peak in April 2006, largely due to increased volumes of distressed properties on the market.

SELLERS DROP ASKING PRICES ON FEWER HOMES IN DECEMBER: REPORT

The number of price-reduced homes on the market in December 2010 fell by 7.7 percent from the previous month, according to a report surveying 26 major U.S. markets issued by ZipRealty. Despite the month-to-month decline, the company says the number of homes with a reduced asking price remained high compared to a year earlier, rising 23.4 percent from December 2009. The report also found that in the markets surveyed, the median list price in December was down 3.9 percent from November.

http://www.dsnews.com/articles/sellers-drop-asking-prices-on-fewer-homes-in-december-report-2011-01-14