From Market Watch 10/19/2009
Major housing indicators should rise again in September, according to a survey of top economic forecasters ahead of a relatively light week for economic data. Data on housing will dominate the headlines this coming week. Full Report
We will be keeping watch and posting links to the most relevant posts/articles/releases as they become available. With continued strength in the markets and activity in DC on the Tax Credit, housing should continue to be at the forefront of the news in the fourth quarter.
NAPERVILLE THIS WEEK: April 27, 2009
The median single family home price in Naperville this week is $499,625. The 1186 homes have been on the market for an average of 219 days. Inventory and days-on-market are climbing while the Market Action Index has been flat, continuing a trend of the past several weeks.
| MEASURE |
VALUE
|
TREND
|
| Median List Price |
$499,625
|
Decreasing
|
| Average List Price |
$647,302
|
|
| Least Expensive Listing |
$134,900
|
|
| Most Expensive Listing |
$4,899,000
|
|
| Asking $/sq ft |
$185
|
Even
|
| Average Days on Market |
219
|
Increasing
|
| Total Inventory |
1186
|
Increasing
|
| Absorbed This Week |
37
|
|
| Market Action Index |
8
|
Even
|
For a more detailed view of the market, including breakdowns by zip code, go to the Market Statistics tab and select the town you want to study. Those charts are updated weekly. Interested in a no charge subscription? Drop me an email and I’ll set you up to receive weekly reports via email.
Making Home Affordable is a new program designed to offer assistance to as many as 9 million homeowners, making their mortgages more affordable and helping to prevent the impact of foreclosure. There are 2 main parts to the program:
- The Home Affordable Refinance program will be available to 4-5 million homeowners with a solid payment history on an existing Freddie or Fannie owned mortgage. This program ends June 2010.
- The Home Affordable Modification will help up to 3-4 million at-risk homeowners avoid foreclosure by reducing monthly mortgage payments.
Summary guidelines from the US Dept of the Treasury provide more detailed information. A new website has been set up http://www.financialstability.gov/ for these programs. If you think you might be eligible to participate there is a step-thru questionnaire at the above link to guide you thru the process. Also you may call your lender to discuss their participation and your eligibility.
