Wednesday, May 7, 2014

Six States Post New Highs in Home Prices, Is Your State Among Them?

According to CoreLogic, home prices in five states — Colorado, North Dakota, South Dakota, Texas and Wyoming — and the District of Columbia posted peak prices in March, even including distressed sales.

Including distressed sales, March year-over-year home prices rose the most in California (prices up 17.2%), Nevada (15.5%), Georgia (12.4%), Hawaii (12.3%) and Oregon (12.2%). The five states where home prices remain furthest from their peak values are Nevada (down 39.9%), Florida (36.3%), Arizona (30.3%), Rhode Island (28.1%) and Illinois (26.5%).

(Via 24/7 Wall Street)


  1. Home Sales Topping $100 Million Smash U.S. Price Records

    The U.S. trophy-home market is shattering price records this year as an increasing number of residential properties change hands for more than $100 million.

    Barry Rosenstein, founder of hedge fund Jana Partners LLC, has purchased an 18-acre (7.3-hectare) beachfront property in East Hampton, New York, for $147 million, according to the New York Post. That would break the U.S. single-family price record of $120 million set last month with the sale of a Greenwich, Connecticut, waterfront estate on 51 acres. In Los Angeles, a 50,000-square-foot (4,600-square meter) home sold in February for $102 million in cash after a bidding war.

    The world’s richest people are moving cash to real estate as they seek havens for their wealth. In the U.S., an improving economy and stocks at a record are bolstering confidence among the affluent. Home purchases of $2 million or more jumped 33 percent in January and February from a year earlier to the highest level for the two-month period in data going back to 1988, according to an analysis by DataQuick.

    “Last year the stock market broke all kinds of records and when that happens, you’re going to see art and resort real estate break all kinds of records,” said Judi Desiderio, chief executive officer of Town & Country Real Estate in East Hampton.

    Fed Yellen: Very Low Interest Rate Environment Still Warranted....................................

    Yellen's comments also showed she sees no evidence that the Fed's ultra-easy monetary policy could be sowing seeds of financial instability.

  2. North Dakota was the answer to the Final Jeopardy question yesterday. (Between 2006 & 2013 it went from 39th to 6th in per capita income & its unemployment rate dropped to the nation’s lowest.) Thanks to EPJ, I was able to impress the Mrs by getting it right. Well, maybe she wasn't that impressed.