Apr. 12, 2009 - Some Surprising Statistics - Home Prices

I have a couple more charts to post before doing my regular Sunday Night Stats post on Rain City Guide.  I was quite surprised last week to see a hint of a full 10% increase in prices in the first closings since Obama passed the Stimuls Package.  This week I am seeing the same 10% increase reflected in sold prices as a % of the properties newer 2009 assessed values. 

More on this as I post more data.

(required disclosure) Information in charts is not compiled or verified by NWMLS.

Apr. 30, 2009 - RE: Some Surprising Statistics - Home Prices

That's great that the market is increasing at this point. I find it amazing that the US government still bases their qualifying prices on a national blanket figure. IT truly does a disservice to those living in areas where prices are on the higher side.

You would think they might have gotten the clue by now and came up with a national index instead and keyed programs to factors of that index depending on local market.

Let's get on top of that Congressional and Senate reps!

Apr. 30, 2009 - RE: Some Surprising Statistics - Home Prices

Joe,

The max $ amounts for government loans (FHA - VA) do change according to area. They are not uniform around the Country. Rates don't change, but max loan amounts differ from one area to another.

May. 7, 2009 - RE: Some Surprising Statistics - Home Prices

Yes, I am aware of that. They have made changes to the calculation recently, but the allowances don't take into accounts in smaller reagional disparities. i.e. San Francisco proper versus Alameda right across the bay.

May. 8, 2009 - RE: Some Surprising Statistics - Home Prices

Joe,

There is no reason for them to make that distinction.  If you want the higher priced area, you need more money down.  If you don't have more money down, then you live in the more affordable area.

They only take it to the level where people can buy within a reasonable distance. Beyond that, people need to have enough cash for a larger downpayment.