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Blog Entries By Sam Khater

The Condo Comeback

What do Michael Phelps, Rosie O’Donnell and the Condo Market Have in Common?

Sam Khater    |    Housing Trends

The Condo Comeback

Though you might hear more about them in the mainstream news, Michael Phelps and Rosie O’Donnell are not the only ones making a comeback these days.  So is the condo market. In Q4 2013, condo construction completions in the U.S. reached 2,100 buildings, up 11 percent from 1,900 in Q4 2012 and up 90 percent from the trough of 1,100 in Q2 2012. While it is still only a small fraction of the 20,000 completions in Q1 2008, it reflects that the condo market has clearly made the turn...

Foreclosure Inventory Down 37 Percent Nationally From a Year Ago

Inventory Improvement is Most Impressive in Southwestern States

Sam Khater    |    Housing Trends

Today CoreLogic reported that the national foreclosure inventory fell by 37 percent in May 2014 to approximately 660,100 homes, or 1.7 percent of all homes with a mortgage, from 1.0 million, or 2.6 percent, in May 2013. This marks 31 months of continuous year-over-year declines in the inventory of foreclosed homes, including 17 straight months of declines greater than 20 percent, as shown in Figure 1. Additionally, in May the 12-month sum of completed foreclosures continues to decline,...

Data Fizz

Stale Demand at Lower End of Home Pricing Fizzing Up to Upper-Middle Price Segments

Sam Khater    |    Data Visualization, Housing Trends

Listen up. Do you hear it? That faint-but-consistent fizzing sound all around you is not due to tiny bursting bubbles in nearby soda cans or champagne flutes. It is the popping of tiny price bubbles across the U.S. This “data fizz” is a reflection of weakening home sales that originally began at lower-priced segments, but are now moving up the price continuum to the higher-priced segments. It is well-known that higher-end home sales...

“Generation Renter”

Millennials Delaying Milestone Life Events, Such As Homeownership, to Pursue Different Goals

Sam Khater

George Bernard Shaw wrote that “youth is wasted on the young.” While that is debatable, the young are certainly not wasting their youth when it comes to education, and that is having a big impact on homeownership rates by generation. Several new research studies on Millennials, (aka “Generation Y,” those born in the early 1980s through the early 2000s), indicate that a rise in educational attainment coupled with the effects of the Great Recession are delaying...

REO Inventory Rising Once Again

Recent Improvement in the Stock of REO Properties Fades in 2014

Sam Khater    |    Housing Trends

Real Estate Owned (REOs) Properties Are on the Rise

After reaching a trough of 375,000 homes in August 2013, the number of real estate owned (REO) properties in the U.S. grew 15 percent to 430,000 as of March 2014 (Figure 1). The increase was broad-based, rising in 46 states. While the increase was moderate nationally, some states saw larger increases than others. Idaho led the way with the stock of REO properties nearly doubling between August 2013 and March 2014. Maryland had the second-largest increase, up 78 percent, followed by Nevada (+...

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