Housing News

NYC Housing Market Crisis Hits Minorities Harder

Oct 27th, 2008 | By RT Staff | Category: Northeast Region

The New York City housing market is more active than others around the country, but that’s working out better for whites and Asians than it is for blacks and Latinos. That’s according to an analysis of recent financial data gathered by the Furman Center for Real Estate and Urban Policy. Director Vicki Been says from [...]



Foreclosures: What Each Presidential Candidate Will Do About It

Oct 27th, 2008 | By RT Staff | Category: West Region

One in every 400 homes in Colorado is in foreclosure according to Team Cox Realtors.
It’s an issue every voter is looking into to see which presidential candidate is best for them.
A group of Republican Presidential Candidate John McCain supporters met in Colorado Springs on Sunday to discuss how McCain’s plan will help keep Americans in [...]



Banks Trying To Work With Homeowners, Avoid Foreclosure

Oct 27th, 2008 | By RT Staff | Category: Midwest Region

In Nevada, home foreclosures have jumped 137 percent compared to a year ago. While the situation in the heartland isn’t nearly as drastic, one bank is reaching out to homeowners in a financial crunch.
The troubling winds of the swinging and unsteady housing market are hitting retiree Pat Yutesler hard. “I’ve had my house on the [...]



San Fernando Valley foreclosures soar, prices slide

Oct 27th, 2008 | By RT Staff | Category: West Region

Foreclosures in the San Fernando Valley ballooned to a record level in the third quarter, pounding down prices but driving a huge jump in September sales, according to a report released today.
Foreclosures soared 203 percent from July through September compared to a year earlier, as 2,589 local families lost their homes in the market collapse, [...]



Apartment vacancies rising in Philadelphia

Oct 27th, 2008 | By RT Staff | Category: Housing News, Northeast Region

The vacancy rate for the Center City and suburban Philadelphia apartment markets is inching up, despite a renewed focus on rental living rather than buying a home.
Apartment landlords, particularly in lower-tiered complexes, are reporting that tenants are doubling and tripling up to save money, and in the upper echelon, more product is coming on the [...]



Foreclosures seen weighing on home prices

Oct 27th, 2008 | By RT Staff | Category: Housing News

A government report Monday showed that new-home sales posted a modest rebound in September, but some Wall Street analysts are bracing for more price deterioration in the housing market as a result of escalating foreclosures.
Fox-Pitt Kelton housing analyst Robert Stevenson on Monday increased his forecast for home-price declines, saying foreclosures are driving down pricing faster [...]



Florida’s existing home, condo sales increase in September 2008

Oct 24th, 2008 | By Gregory Arzumanov | Category: Housing News, South Region

ORLANDO, Fla., Oct. 24, 2008 – For the first time in almost three years, Florida’s existing home sales rose in September, noting a 24 percent increase in activity in the year-to-year comparison; last month’s sales of existing condos statewide increased 11 percent in the year-to-year comparison, according to the latest housing data released by the [...]



Mixed numbers for Long Island real estate market

Oct 24th, 2008 | By RT Staff | Category: Northeast Region

A jump in sales and a dip in inventory are providing a ray of hope for a depressed housing market.
The bad news is that home prices are still dropping and many buyers remain on the sidelines.
There were 1,740 homes under contract for sale in Nassau and Suffolk counties last month, a 26 percent increase over [...]



U.S. Home Resales Rose in September to One-Year High

Oct 24th, 2008 | By RT Staff | Category: Housing News

Home resales in the U.S. rose more than forecast in September, aided by foreclosure-driven declines in prices that made properties more affordable.
Purchases of existing homes jumped 5.5 percent last month to a 5.18 million annual pace, the highest level in a year, the National Association of Realtors said today in Washington. The median price dropped [...]



Study Finds Vacation Rental Market Taking Off

Oct 23rd, 2008 | By RT Staff | Category: Housing News

A new PhoCusWright study on the dramatic growth in the vacation rental market indicates that companies like Zonder, the leader in real-time, online booking of private homes, cabins, condos and villas, are well positioned to overcome distribution barriers and are making this attractive rental option accessible to consumers.
The study, PhoCusWright’s Vacation Rental Marketplace: Poised for [...]