Monthly Archives: January 2014

No housing recovery without a jobs recovery

Posted on January 13, 2014 by grim

From CNBC: How weak job participation rips the housing recovery The December jobs report speaks volumes about why the housing recovery is not as robust as it should be, given still historically low mortgage rates and still relatively low home … Continue reading →

Posted in Demographics, Economics, Housing Recovery, National Real Estate | 66 Comments

Shadow inventory continues to decline

Posted on January 10, 2014 by grim

From HousingWire: Foreclosure pipeline drains out he number of U.S. homes in foreclosure fell 29% in November with 46,000 completed foreclosures reported, a decrease from 64,000 in November 2012, CoreLogic’s foreclosure inventory report found this week. On a month-over-month basis, … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, National Real Estate | 150 Comments

NY Metro – Best jobs growth since 2000

Posted on January 9, 2014 by grim

From the Record: New York region adds 200,500 jobs in year The New York-New Jersey area added 200,500 jobs in the 12 months to November 2013, a 2.3 percent increase that was the largest 12-month jump since December 2000, the … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate, NYC | 123 Comments

Buyers want bigger, more expensive homes

Posted on January 8, 2014 by grim

From Inman: US single-family homes were costlier to build, priced higher and larger in 2013 The cost to build the average U.S. single-family home hit $246,453 in 2013, reaching its highest mark since 1998, according to a construction cost survey … Continue reading →

Posted in Demographics, Economics, New Development | 132 Comments

North Jersey Contracts – December 2013

Posted on January 7, 2014 by grim

Here it is! The first look at pending home sales (contracts) for Northern NJ. (Source GSMLS, except Bergen- NJMLS) December Pending Home Sales (Contracts) ——————————- Bergen County December 2011 – 489 December 2012 – 505 December 2013 – 510 (Up … Continue reading →

Posted in Employment, Housing Recovery, North Jersey Real Estate | 70 Comments

Not so easy to be a renter

Posted on January 6, 2014 by grim

From the APP: Demand for rentals pushing up cost, squeezing N.J. residents In the years since the Great Recession tumbled housing prices and eviscerated personal incomes, a growing number of Americans have given up their homes and turned to renting. … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate, Shore Real Estate | 94 Comments

Barron’s: Home prices to increase over next 3 years

Posted on January 4, 2014 by grim

From Barrons: Betting on the House It’s no secret that U.S. home prices have enjoyed a healthy rebound in 2013 after the nightmarish 33% drop over the previous five years that triggered an orgy of mortgage defaults and wealth destruction. … Continue reading →

Posted in Economics, Housing Recovery, National Real Estate | 31 Comments

NYC buyers rush in as rates increase

Posted on January 3, 2014 by grim

From Bloomberg: Manhattan Home Sales Rise to Year-End Record in Buyer Deal Rush Manhattan apartment sales surged in the fourth quarter, setting a record for year-end transactions, as the prospect of rising interest rates and prices pushed buyers to make … Continue reading →

Posted in Economics, Housing Recovery, NYC | 83 Comments

Strong finish to 2013?

Posted on January 2, 2014 by grim

From the Star Ledger: Homes sales increased 17 percent in 2013 while prices held steady at year’s end Home sales are up in New Jersey, but the number of properties on the market continues to fall. Meanwhile, prices have leveled … Continue reading →

Posted in Economics, Housing Recovery, New Jersey Real Estate | 153 Comments