U.S. Monthly House Price Index Estimates 0.9 Percent Price Increase from April to May.
US Homes rose 0.9 % on a seasonally adjusted basis monthly house price index. The previously reported April decline increased from 0.1% to 0.3 %. For the 12 month period ending in May, the decline was 5.6%. The US index is currently 10.7% below its April 2007 peak.
For complete information visit US Monthly Price Index.
Albuquerque statistics are a bit more optimistic. Since January, every market indicator has shown improvement almost every month, culminating with June’s statistics, which are the strongest yet.
Closings numbered 649 in June, having increased every month since January which posted only 324 sales. the last time we saw that in our market was in early 2004 , during the housing boom. Pending sales increased rapidly every month so far this year, June totaled 933 up from January’s 571.
Statistics courtesy of Greater Albuquerque Board of Realtors.
The American Recovery and Reinvestment Act (ARRA) increased the maximum conforming mortgage loan limits for mortgages originated in 2009. The increase affects 250 counties across the US. Fannie Mae and Freddie Mac maximums will return to their late 2008 levels for these areas. Several lookup tables are available on the Office of Federal Housing Enterprise Oversight.
Loan limits for mortgages originated in 2009 are set under the provisions of the American Recovery and Reinvestment Act of 2009. Under that legislation, loan limits for 2009-originated loans are set at the higher of the 2008 limits and those that were originally announced for 2009 under the terms of the Housing and Economic Recovery Act of 2008.
