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October 2012

Found 24 blog entries for October 2012.

NEW YORK (CNNMoney) -- The housing market picked up more momentum in August, as the average home price for 20 major cities jumped 0.9%, according to the S&P/Case-Shiller home price index

The increase marked the fifth consecutive month of gains for the index with all but one city, Seattle, recording month-over-month price increases.

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Washington, D.C. - October 18, 2012 - Three of the nation's largest cities joined the ranks of Bicycle Friendly Communities (BFC) today. 

 Showcasing the progress and potential of major U.S. cities to make bicycling safe and accessible for millions of Americans, Los Angeles (Calif.), Nashville (Tenn.), and Miami (Fla.) are among the 28 new cities to attain BFC status from the League of American Bicyclists.  

 "This latest round of BFC awards proves yet again that any city -- regardless of size or geography -- can take cost-effective steps to increase bicycling in their community," said League President Andy Clarke. "From Bentonville, Arkansas, to Bethesda, Maryland, cities are embracing biking as a means to save money, reduce congestion,

631 Views, 0 Comments - Foreclosures have drained nearly $2 trillion in home equity from neighborhoods across the United States, according to a report from the Center for Responsible Lending (CRL).

In a report titled “Collateral Damage: The Spillover Costs of Foreclosures,” researchers Debbie Bocian, Wei Li, and Peter Smith conclude that, based on the 10.9 million loans that entered foreclosure between 2007 and 2011, approximately $1.95 trillion in property value has been lost or will be lost by residents who live close to foreclosed properties. This estimate includes losses stemming from completed foreclosures and future losses projected on foreclosure starts.

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Summer’s end may have led to the close of a strong home-buying season, but a decrease in distressed sales is helping prices maintain their yearly gain and some regions are still experiencing monthly price increases.

As of August 23, 2012, prices fell 0.4 percent in 25 major U.S. metropolitan areas from July 23, 2012, according to Radar Logic’s RPX Composite price. Year-over-year, prices were still up 4.5 percent, and year-to-date, the RPX composite showed prices have risen 12.8 percent, the largest increase for the period since 2005.

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NEW YORK (CNNMoney) -- Foreclosures fell in nearly two-thirds of the nation's largest metro areas during the third quarter, according to RealtyTrac Thursday.

With 62% of the nation's 212 largest markets seeing foreclosure activity shrink during the latest quarter, the ongoing decline is yet another sign that the housing market is starting to stabilize.

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NEW YORK (CNNMoney) -- In another sign of a housing market recovery, new-home sales rose in September to the highest level in more than two years, according to a government report released Wednesday.

Sales sold at an annual rate of 389,000 homes in the month, according to the Census Bureau report, up 5.7% from the 368,000 sales pace in August. The last time sales were at this pace, in April 2010, they were being helped by a short-term home buyer's tax credit.

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728 Views, 0 Comments National home values in the third quarter experienced their biggest increase in more than half a decade, according to Zillow.

Home values in the United States rose 1.3 percent from the second to the third quarter, marking the fourth straight quarter of increases, Zillow reported. The quarterly rise is the biggest increase since March 2006, when home values rose 1.5 percent.

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1,938 Views, 0 Comments - Are you gearing up to buy a home? Now is a great time to make a move in the real estate market. Interest rates are at historic lows. Compare today's 30-year fixed-rate average of between 3 and 4 percent to the 13 to 18 percent rates of the 1980's and you'll see why everyone is buzzing about the great deals to be had!

Additionally, homes are now at their most affordable on record. This is because home values have dropped across much of the nation. There is also a huge supply of distressed properties on the market which sell for steep discounts.

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769 Views, 0 Comments - Home prices reached a sustainable bottom during the first quarter of this year, according to Barclays’ U.S. residential credit strategy team. In many markets, homes are trading close to replacement costs, and longer-term affordability measures point to equilibrium, the firm’s analysts contend.

While the floor appears to have materialized, they stress that home prices are likely to recover slowly over the next 4 to 5 years.

“We expect on average a 3-4 percent annual increase in home prices [nationally] in coming years,” they said in an updated market outlook.

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955 Views, 0 Comments -- The pace of previously owned home sales slowed slightly in September, even as the long-battered housing market showed signs of a broader recovery.

Sales of existing homes sold at an annual rate of 4.75 million, according to a closely watched reading reported Friday from the National Association of Realtors. It was off slightly from the 4.83 million pace the previous month, but up 11% from a year earlier. Despite the slip, September's pace was the second best in more than two years, trailing only the strong August reading.

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