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News Article From: 08-28-2013US home prices rise strong 12.1 percent in June; Valley up 20 percent The Standard &Poor's/Case-Shiller 20-city home price index slowed only marginally from May's year-over-year gain of 12.2%, the fastest since March 2006. And all 20 cities posted gains from the previous month and compared with a year ago. Prices have jumped 24.5 percent in San Francisco and nearly 20 percent in both Los Angeles and Phoenix. Read article - East Valley Tribune Shadow Inventories Becoming Vanishing Problem Shadow inventories posted the largest quarter-over-quarter decline since the housing crisis began, and dropped 23% year-over-year. At its peak in March 2010, shadow inventory was at about 5.5 million loans. For the second quarter of 2013, shadow inventory had fallen to 2.99 million. In comparison, shadow inventory loans totaled about 800,000 in March 2000-considered a more normal average. Read article - Realtor Magazine |
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