The number of people who bought previously occupied homes fell in July for the third time in four months.  This year is on pace to be the worst in 14 years for home sales, as more Americans worry that the economy could slip back into another recession.  Since the housing boom went bust in 2006, […]

Some realtors, home-sellers and economists believe low-ball appraisals are undermining a housing recovery.  Some appraisers say that homeowners are just having trouble facing reality.  “It’s the market.  It’s not the changes” in the appraisal process, says Charles MacPhee, a partner with Butler Appraisals LLC. Wall Street Journal August 12, 2011

The number of homes listed for sale declined sharply in a number of cities during the second quarter.  Rather than increased demand, analysts believe the drop reflects the slow pace at which banks are processing foreclosures.  Another factor behind the falling inventory levels is shifting behavior on the part of sellers, who in recent months […]

June existing home sales fell 0.8% from the month earlier.  It was the third straight monthly drop and a seven month low.  The number of contract cancellations soared amid national economic uncertainty.  Sales were down 5.2% in the Northeast. The Wall Street Journal July 21, 2011

Although interest rates are near rock bottom levels, it is a lousy time to get a mortgage.  Since 2009, credit has become much tighter.  Pre-crisis, a FICO score of 700 to 725 was deemed solid and a borrower could expect to get a conventional mortgage at the lowest rates.  But so far in 2011, only […]