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Since the housing market's peak in July 2006, home prices have plunged 30% on average, with prices in some markets, such as Las Vegas, Phoenix and parts of Florida, falling more than 60%. NAR's Yun estimates home-equity losses from the housing meltdown totaled $7 trillion...
...record 3 million homes received foreclosure notices in 2009, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). He expects a similar number this year...
...have already been mixed signs of stabilization in price and demand. Home prices rose month over month for six consecutive months through October, according to Standard & Poor's Case-Shiller Home Price Composite 10 Index, although prices are still down year over year. However, the most recent figures from NAR indicate that pending sales of existing homes fell 16% in November. Such mixed signals, analysts say, will be the housing market's message for some months to come...
About 1.4 million households used the credit between February (when the program was launched) and September. And from 350,000 to 400,000 of those transactions involved purchases that would not have been made without the credit, says Lawrence Yun, chief economist with the National Association of Realtors (NAR...
...latest housing data has also been positive: sales of existing homes shot up 9.2% in September to a seasonally adjusted rate of 5.57 million units - the highest level since July 2007, according to NAR. At the same time, inventory levels declined 15% from the same month a year earlier...