Jacksonville Real Estate Market

Jacksonville, Florida

Excluding Distressed Sales, Are Home Prices Just Fine?

Home prices in May were down 7.4 percent year-over-year, according to a new report from CoreLogic. This is the first of the May numbers, as S&P Case Shiller, which released earlier this week, looks back two months.

Realtors Slam Lack of HUD Funds in Foreclosure Deals

Today’s bullish report on pending home sales came with a caveat from the National Association of Realtors that if banks began lending to more creditworthy borrowers, recovery in the housing sector would be faster.

Home Price Headlines Hide the True Picture

How do I loathe home price day? Let me count the ways. This month is particularly frustrating, because the big headline from S&P/Case Shiller was that home prices rose for the first time in eight months. Okay, yes, from March to April, with no seasonal…

Low-End Housing Sees Higher Losses

As I sit here, less than 24 hours from the next release of the much-followed monthly S&P/Case Shiller Home Price Index, I’m confronted with all kinds of varying data and hypotheses on the future track of home prices. Particularly interesting to me is a…

Lower Loan Limits: Let the Games Begin

Today the National Association of Home Builders released a study claiming that lowering the loan limits at Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA), “will reduce housing demand and place downward pressure on home prices in m…

If You Build It, When Will the Home Buyers Come?

Sales of newly built homes fell around 2 percent in May from the previous month, but that was a little better than expectations, given the lousy home builder sentiment number we got this month and the huge supply of competing existing and distressed pr…

Don’t Let Falling Foreclosure Numbers Fool You

The so-called “shadow inventory” of residential properties is falling, according to a new report from CoreLogic. “The decline was due to fewer new delinquencies and the high level of distressed sales, which helped reduce the number of outstanding distr…

Distressed Property Sales Drop, Despite Push to Sell

The share of distressed sales in May, that is foreclosed properties and short sales (when the property is sold for less than the value of the loan), fell to 31 percent of all sales from 37 percent in April. Investors, who purchase a large share of thes…

Existing Home Sales Fall Less Than Expected

Sales of existing homes fell 3.8 percent in May, not as deep a drop as some had forecast, to a seasonally adjusted annual rate of 4.81 million units.

With No Credit, Housing Investors Dig Deep

Nothing like getting to work on a Monday morning and finding no fewer than four dismal reports on the housing market in my “Inbox.”

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