Prices and Foreclosures

The number of foreclosed homes for sale increases with prices. The number of offers of foreclosed homes appeared on the market rose in July 2009 by 16%, according to the newest reports, following the trend of prices. The largest share of this growth were a number of bids of two and three rooms that have increased by a percentage of 18.9% and 18.5%, following the launch of different foreclosure programs.

offer of new one-room flats rose by 13% in July 2009. For apartments of four rooms the number of offers increased by only 3.6%. The foreclosure prices increase will not become a rule. The increase in prices for apartments in the last month was speculative and not a cause for concern, as foreclosure reports show.

The increase in the last month cannot become a rule and the downward trend that persisted since last year indicates a near balance in the foreclosure market, officials say. Thus, in July, the price asked for one room foreclosed properties was 46,300 USD, up by 2.6 % if we compare it to the June percent. For foreclosures of two rooms on average, owners have requested an initial price of 70,500 USD, increasing by only 1% compared to the previous month.

For three rooms apartments the increase registered over the previous month was 3.5% and in average owners have asked a price of 97,600 USD. Foreclosed apartments with four rooms were objects of tenders from the owners at an average price of 128,500 USD, with an increase of 4% compared to June. Thus, statistics show that there are no significant foreclosure price increases. Moreover, July is the third month in which prices evolve linearly. Statistics are results of different foreclosures offers published by private individuals across the media and the Internet, and the average price results from the prices originally requested by owners.

U.S.: Foreclosure prices are falling, sales growth in housing. Sales of foreclosure homes in the United States registered an increase over expectations in June 2009, which shows the stabilization of the foreclosures market. Foreclosures sales have increased in July to a 384,000 annual pace, according to the Department of Commerce, more than 11% compared to May. However, the average price of foreclosed homes fell to 206,000 dollars, less by 5.8% compared to May and by 12% over the same period last year. A month ago, the average price was $ 219,000.

In addition, the construction of houses in the U.S. led to an increase of 3.6% in June. Construction of housing for a family consisting of two persons increased by 14% in the period under review, to 470,000 homes, the highest rate since December 2004. The difficult situation on the U.S. foreclosures market can reduce urban development on long-term.

Colored banners urge those who pass through the neighborhood of the rebuilt center of Baltimore City to move to new apartments. Until recently, not all this publicity was necessary. The renewal process developed without any problem, in Baltimore and other cities that made the transition from manufacturing to services, writes the New York Times.