NEW YORK (Reuters) – Single-family home prices dropped into double-dip territory in March as the housing market remained bogged down by inventory and weak demand, a closely watched survey said on Tuesday.
The S&P/Case Shiller composite index of 20 metropolitan areas declined 0.2 percent in March from February on a seasonally adjusted basis, in line with economists' expectations.
The price index was below the low seen in April 2009 during the financial crisis. The glut of houses for sale, foreclosures, tight credit and weak demand have kept the housing market on the ropes even as other areas of the economy start to recover.
The 20-city composite index was at 138.16, falling below the 2009 low of 139.26.
Building giant D.R. Horton Inc. is known nationally as more of a a starter-home builder, but changes to the buying pool has it shaking things up. It is now starting to build slightly bigger homes with more amenities for move-up buyers.
"We've made a conscious effort in a number of our markets to move up into the move-up buyer market simply because we see more demand," Donald Tomnitz, Horton's chief executive, said on a recent earnings call. "We see a great opportunity . . . so we're beginning to expand that portion of our business."
Horton's move, the latest play as the beaten-down sector limps through the worst housing crash in generations, acknowledges that move-up buyers -- absent from the market for the last few years -- -are slowly crawling
Homes are more affordable to more families, according to the latest index for the first quarter of 2011 that shows affordability reaching its highest level in more than 20 years.
See current rates here
Nearly 75 percent of all new and existing homes sold in the first quarter of 2011 were affordable to families earning the national median income of $64,400, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. The previous high was set in the fourth quarter of 2010 with 73.9 percent.
"With interest rates remaining at historically low levels, today's report indicates that home ownership is within reach of more households than it has been for more than two decades," says Bob Nielsen, chairman of the National
Bedrooms: 4 Bathrooms: 2.5 Home Size: 3,300 sq.ft. Garage: 3 Lot Size: 5,644 sq.ft. Community: Fox Hollow County: King Property Type: Single Family Detached Year Built: 2003 MLS Number: 227900
Immaculately maintained newer home in sought after Redmond location awaits you. Custom painting, soaring ceilings, stainless steel appliances, and maple flooring are just some of the luxury touches. The large master suite with vaulted ceilings provides a quiet get away, or relax in the spa like environment of the master bath. The property backs to a green belt for the nature enthusiasts, but offers the convenience of being minutes from Kirkland, Microsoft and easy access to expressways. Priced
Bedrooms: 3 Bathrooms: 2.5 Home Size: 1,630 sq.ft. Garage: 1 Community: Magnolia County: King Property Type: Condo or Townhouse Year Built: 2002 MLS Number: 227758
Beautiful Magnolia town home is spacious, bright and ever so lightly lived in! Home has a truly livable floor plan, 10 foot celings in common areas and valted bedroom celings, gas cooking, quaint garden area, no HOA dues and a single car garage with easy/normal parking. Located within close proximity to pubs, restaurants, Discovery Park, Fishermans Terminal, QFC, parks and trails and just a 10 minute commute to downtown Seattle. Welcome Home.
I would like to welcome Beverly Auffray to The Cascade Team. Beverly will be working out of the Bellevue office under Darin Robertson. She will be focusing on the Issaquah and Sammamish/Redmond areas.
Beverly's bio and contact information are below.
BEVERLY AUFFRAY – BROKER The Cascade Team RE
Your choice of Agent can create the difference.
She is qualified and committed to delivering the highest level of service with the best in real estate planning, marketing and agency representation. Her personal service creates an enthusiastic positive atmosphere in which we all thrive and make better decisions.
You’ll benefit from her knowledge in real estate legislation and regulations, her awareness of the local
Bedrooms: 1 Bathrooms: 1 Home Size: 767 sq.ft. Community: Redmond County: King Property Type: Condo or Townhouse Year Built: 1968 MLS Number: 226997
NOT A SHORT SALE! Fantastic find! Spacious 1 bedroom, 1 bath, upper end condo in desirable Villa Marina Community. Home is bright and airy, crown molding throughout, ceramic tile floors, private deck off family room. Villa Marina offers an outdoor seasonal pool, a jetted hottub, boat launch and a cabana clubhouse. Boat sports and swimming are just outside your door. Desirable location: close to Marymoor Park, 520 and Redmond Town Center. A few miles from Microsoft. This is true resort style living! Your client will love it!
Another Welcome BACK to The Cascade Teram. Welcome Kathi Mydland. Kathi worker for The Cascade Team for about two years before taking a short six month break. Kathi origionally comes from John L Scott and she has her managing brokers license.
Kathi will be working in The Issaquah Highlands office of The Cascade Team under Matt Jensen also.