CoreLogic CaseShiller Predicts Slowdown in Price Growth

first_img May 17, 2013 425 Views in Data, Government, Origination, Secondary Market, Servicing CoreLogic Case-Shiller Predicts Slowdown in Price Growth With housing prices on the rise across the nation, and double-digit increases in some markets, CoreLogic quashes any fears of another housing bubble forming any time soon. In fact, according to the “”CoreLogic Case-Shiller Home Price Indexes””:http://www.corelogic.com/about-us/researchtrends/corelogic-case-shiller-indexes.aspx?WT.mc_id=prnw_130516_vuJNf released Thursday, some markets experiencing rapid gains may soon see a slowdown or even reversal of recent trends. [IMAGE]After a 7.3 percent price gain in 2012, the nation’s housing prices will continue to rise over the next five years but at a slower pace, according to Case-Shiller. The indexes forecast a 3.9 percent annual increase through 2017. Many of the markets that underwent the greatest price depreciation during the housing crisis are now experiencing the greatest price appreciation. For example, home prices in Phoenix rose almost 24 percent year over year as of the fourth quarter of 2012. Prices in Miami rose 14 percent, and prices in Las Vegas rose 13 percent over the same time period. [COLUMN_BREAK]However, homes in these markets remain undervalued, and the price increases are being driven by investor demand.As homeowners looking to sell are encouraged by rising prices and as new construction picks up, increased inventory will dampen these rapid increases, according to CoreLogic. Also, rising prices will eventually ward off investors, and “”it is not clear if demand from first-time and trade-up buyers will immediately fill the void,”” said David Stiff, chief economist for CoreLogic Case-Shiller. As investors slow down, these markets may encounter waning price appreciation or even price depreciation, according to Stiff. Regardless, “”[e]ven if double-digit price appreciation were to continue in the former bubble metro areas, there is no reason to believe that new home price bubbles are forming,”” Stiff said. “”That’s because single-family homes in these markets are still very affordable,”” he added. Seven of every 10 metro areas tracked in the CoreLogic Case-Shiller indexes of more than 380 markets experienced rising prices in 2012. In 2011, the ratio was one in five. Many metros still experiencing price depreciation charted smaller declines over the year in 2012. For example, Long Island, New York, posted a 4 percent decline, while Virginia Beach, Virginia, posted a 2 percent decrease. “”We expect strong buying activity this spring will lead to stabilization of home prices in most lagging markets, resulting in rising home prices in nearly every metro area by the end of 2013,”” Stiff said.center_img Agents & Brokers Attorneys & Title Companies CoreLogic Home Prices Housing Supply Investment Investors Lenders & Servicers Processing Service Providers 2013-05-17 Krista Franks Brock Sharelast_img read more

Well so much for that idea then Haley was alway

first_imgWell so much for that idea, then?Haley was always an interesting option for Arizona, as he is recognized as being a good coach whose style tends to wear on players over time. He led the Chiefs to the postseason in his second season at the helm, but was relieved of his duties 13 games into the following year. If Haley is indeed out of the mix, that leaves the Cardinals looking at current defensive coordinator Ray Horton, Denver Broncos offensive coordinator Mike McCoy and Cincinnati Bengals offensive coordinator Jay Gruden. There could be other candidates, but those are the ones confirmed to have either interviewed with the team or scheduled to interview with the team. Grace expects Greinke trade to have emotional impact Derrick Hall satisfied with D-backs’ buying and selling Comments   Share   But according to a report by NFL.com’s Ian Rapoport, he’s not all too interested in being the team’s head coach.#Cardinals requested interview with Todd Haley. Source close to Haley: “He loves Steelers job. He’s very happy. No interview with Cards.”— Ian Rapoport (@RapSheet) January 9, 2013 The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo When the Arizona Cardinals relieved head coach Ken Whisenhunt of his duties on December 31, there was a list of people many assumed would be interested in replacing him.One of those men was Pittsburgh Steelers offensive coordinator Todd Haley.Haley, who was the Cardinals’ offensive coordinator in 2007 and 2008 before leaving for the top job in Kansas City, has been with the Steelers for one season and always appeared to have an affinity for the Arizona organization. Former Cardinals kicker Phil Dawson retires Top Stories last_img read more