U.S. home prices up 28 percent since the bottom of the market
Case-Shiller released the monthly Home Price Indices for January (“January” is a 3 month average of November, December and January prices). Both the 10- and 20-city composites reported virtually flat month-over-month changes. The 20-city composite is up 28 percent since the bottom of the market in early 2012, remains down 15 percent since 2007 (the last […]
More mixed messages from the housing market: Prices up, sales down
The housing market provides more mixed messages about the economic recovery. On the one hand, home prices, as measured by the Federal Housing Finance Agency House Price Index, are up just under 7 percent over the same time last year. Increasing home prices may boost consumer confidence and help accelerate economic growth. On the other […]
Portland home prices: Recovery with seasonal slowing
Portland home prices are up 13 percent from last year, despite seasonal slowing. Prices remain down 14.5 percent from the peak in mid-2007, Portland area home prices are up 23.5 percent from the bottom of the market in early 2012. While the Portland area has seen three months of declining home prices, this seems […]
Uptick in housing permits driven by multifamily construction
Housing starts came in much as expected for February but permits topped a consensus forecast. At 1.018 million units, overall permits are up 7 percent from a year ago. Much of the increase was from a 24.3 percent spike in multifamily units. At the same time, single-family permits eased 1.8 percent in both February and […]
Testimony: Real estate valuation and damage from development delay
Evaluated Plaintiffs’ claims of damages. Plaintiff alleged that city imposed delays diminished the market value of real estate, increased Plaintiff’s carrying costs, and imposed costly exactions on Plaintiff. Evaluated “rough proportionality” related to inverse condemnation. David Hill Development, LLC, v. City of Forest Grove, Steve A. Wood, and Robert A. Foster, United States District Court […]
Testimony: Real estate valuation and damage from delay
Evaluated Plaintiffs’ claims of damages. Plaintiffs alleged that county planning commission decision deprived Plaintiffs of all economically viable uses for their property for approximately four years. Dr. Fruits performed a statistical analysis of the reasonable rate of return on the value of real estate during that period of time through the date of trial. The […]