Team Thayer Property Servicing

Justin Lee Thayer is Lane counties expert in market analysis for real estate investors. Call Justin @ 541-543-7287 CLICK HERE TO VISIT THE TEAM THAYER WEBSITE

Home prices nationwide, including distressed sales, increased by 2.7 percent month-over-month in April and have risen on a year-over-year basis for 38 consecutive months, according to the  April 2015 CoreLogic Home Price Index  (HPI) released on Tuesday. With distressed sales (short sales and REO transactions) figured in, 30 states plus the District of Columbia were at or within 10 percent of their peak prices in April, according to CoreLogic. The District of Columbia reaching price peaks not seen since the beginning of CoreLogic's HPI in January 1976. Some states within 10 percent of their peak were Alaska, Colorado, Nebraska, New York, Oklahoma, Tennessee, Texas, and Wyoming. Home prices rose by 6.8 percent year-over-year and 2.3 percent month-over-month in April excluding distressed sales, according to CoreLogic. Home prices excluding distressed sales, which are normally discounted at 20 percent or more, actually appreciated at a lower rate month...

Outlook for Housing and Economy Remain Positive Despite Q1 GDP Contraction In its second of three estimates of real gross domestic product (GDP) growth for the first quarter released Friday , the U.S. Bureau of Economic Analysis ( BEA ) issued a downward revision of what analysts had already deemed "paltry" growth of 0.2 percent in the  advance estimate for Q1  reported at the end of April. According to the BEA's second estimate for Q1, which is based on more complete source data than were available for the advance estimate, the GDP contracted at an annual rate of minus 0.7 percent. Despite economic growth taking a step backward, the forecast for housing for the rest of the year remains positive, according to Fannie Mae SVP and chief economist Doug Duncan. New home sales increased by 6.8 percent in April up to 517,000 annualized units; the National Association of Realtors' Pending Home Sales Index has risen by 14 percent in the last 12 months; existing home s...

Pending Home Sales Rise to Highest Level in Nine Years The  National Association of Realtors  (NAR) recently reported in their  Pending Home Sales Index  (PHSI) that, pending home sales increased in April for the fourth consecutive month and reached their highest peak in nine years. All four major regions saw growth in April, led by the Northeast and Midwest. “The steady gains in contract activity each month this year highlight the fact that buyer demand is strong,” said Lawrence Yun, NAR chief economist. "Realtors are saying foot traffic remains elevated this spring despite limited—and in some cases severe—inventory shortages in many metro areas. “ The index is a forward-looking indicator based on contract signings, NAR reported. It increased 3.4 percent to 112.4 in April from a slight upward revision of 108.7 in March and is now 14 percent above 98.6 in April 2014. This is the largest annual increase since 15.1 percent in September 2012. Year-over-year...