Existing home sales in USA unexpectedly declined 7.2% to a 5.05 million pace in January 2010. This figure indicates a lack of job growth that is undermining the government’s incentives to bolster the US housing market. Check out the full article at Bloomberg.com
“This month, after three years of record declines, the battered housing market has shown some signs of hope. Tuesday the S&P/Case-Shiller 20-city Home Price Index, which is a gauge of sale prices in the country’s major markets, showed a seasonally adjusted 0.3% increase between November and December.”
Check out the complete article on Forbes.com
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Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the nation. The aim of the consumer-oriented segments is to provide real information on real estate.
This month’s video shares some valuable information on buyer’s participation in the Homebuyer Tax Credit program. Per capita participation yields some surprising results.
The Obama Administration released monthly data for the Making Home Affordable (MHA) loan modification program. Although more than 728,000 loanholders are seeking modifcation under this program, only 31,382 have been permanenetly modified.
Elizabeth Warren, who heads the panel oversees the TARP bailout program, has said the MHA program is “not working” and should be replaced with a more viable program. Nearly 1 in 6 homeowners with a mortgage are either late on their payments or in foreclosure, and that number is expected to rise as unemployment remains high and borrowers fall out of loan modification programs.
PI Real Estate Expert David Lereah summarizes 2009 as a gloomy year for real estate, but talks about his hopes for a better housing market in 2010