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July 2013

Percentage of Original List Price to Sales Price 96%

95%

94% 92%

90%

90% 88%

90% 89%

87%

86% 84% 82% June 09

June 10

June 11

June 12

June 13

Source: MLS Data

Hopeful Increase in Housing Inventory FannieMae.com Potential homebuyers may enter the purchase market sooner rather than later as more Americans expect mortgage rates and home prices to climb, according to results from Fannie Mae’s June 2013 National Housing Survey. The share of respondents who say mortgage rates will go up during the next 12 months jumped 11 percentage points to 57 percent, the highest level in the survey’s three-year history. Meanwhile, consumers’ home price expectations have stayed strong in the face of rising mortgage rates. The share of respondents who believe home prices will go up in the next year also hit a survey high of 57 percent, while those who say prices will go down stayed steady at 7 percent. Although sentiment toward both the current home buying and selling environments retreated slightly, it remains near the survey highs of last month, with 72 percent saying it is a good time to buy and 36 percent saying it is a good time to sell. (Read more at FannieMae.com)

Why Homes with Open Space Command Big Bucks The Wall Street Journal Online Call it the flora-and-fauna effect: Home buyers will pay a premium to live near open, undeveloped land. So much for good neighbors. That's the conclusion of a Colorado State University study of home prices in conservation developments, where residential real estate is limited and a substantial amount of land, usually 50% to 70%, is set aside as open space. "That could mean wildlife habitats, agricultural lands, important cultural sites, open space for scenic vistas," says Sarah Reed, co-author of the study and associate conservation scientist with the Wildlife Conservation Society.

Luxury home sales jump 33 percent in Denver metro area in May DenverPost.com A total of 101 luxury homes in the area sold in May, up from 76 transactions in May 2012. On a monthly basis, million-dollar sales were up 8.6 percent from 93 transactions in April. The report said the median sale price of a luxury home was also higher in May, moving up to $1.3 million — a 2.4 percent increase from April and a 2.2 percent increase from a year ago, when the median stood at $1,272,000. The high end of the luxury market was especially strong in May, with 14 sales over $2 million, double the number of multimillion-dollar sales from a year ago.


July Market Insider