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December 2015 Archive

Part 2: How Affordable are Condos?

Affordability Varies with Floor Area

Kristine Yao    |    Property Valuation


In the first part of our condo affordability blog, we examined how affordability varied by location. Some central locations proved to be unattainable for traditional condo buyers seeking affordable options, but what if we also compared housing costs relative to its size, or price per livable square foot? It doesn’t come as a surprise that condos located within the city’s core...

Part 1: How Affordable are Condos?

Affordability Varies By Location

Kristine Yao    |    Property Valuation


Conventional wisdom tells us that condos are more affordable (in other words, less expensive) than single-family detached homes, making condos a good entry-level option for aspiring millennial homebuyers. However, there are other factors influencing the rising demand. Condos tend to be located in higher-density markets that are attractive to homebuyers wanting walkability and a more urban...

Distressed Sales Accounted for 10 Percent of Homes Sold Nationally in October 2015

Share Fell 2 Percentage Points from a Year Ago

Molly Boesel    |    Mortgage Performance

  • Of total sales in October 2015, distressed sales were 10.2 percent and REO sales were 6.9 percent
  • Maryland remains on top with the largest share of distressed sales among all states at 20.3 percent
  • Distressed sales share should reach pre-crisis level in 2019

Distressed sales, which include real estate-owned properties (REOs) and short sales,...

National Property Tax Delinquency Declining

Matt Cannon    |    Mortgage Performance


Real estate taxes in the United States are assessed by various taxing authorities and are generally based on the value of the property, including the land. The taxes may include county, city, town, borough, school or a special assessment, such as a Municipal Utility District (MUD) tax. Different locations can have different types of property taxes. Homeowners with a mortgage typically pay...

Cash Sales Share Falls 3 Percentage Points From a Year Ago

Cash Sales Accounted for 32 Percent of All Home Sales in September 2015

Molly Boesel    |    Housing Trends


Cash sales accounted for 32.5[1] percent of total home sales in September 2015, down 3.4 percentage points from 35.9 percent in September 2014. On a month-over-month basis, the cash sales share increased by 0.2 percentage points in September 2015 compared with August 2015. The cash sales share typically increases month over month in September, and due to seasonality in the housing...

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