Modest Firming In Global Housing Markets Through Mid-year: Scotiabank

Better housing market leads to more foreclosure activity

This modest rate of house price appreciation is consistent with balanced market conditions and long-term house price inflation. Regionally, Alberta continues to show the strongest overall conditions, as strong population inflows and full-time job growth fuel growing housing demand. Activity in British Columbia remains on the softer side despite some recovery in sales and pricing in recent months. In most other provinces, sales volumes are fairly ‘typical’ and market conditions balanced. Buyers are taking advantage of still attractive borrowing costs, notwithstanding the recent upward drift in fixed mortgage rates. Indeed, the prospect of rate increases may have drawn in potential homeowners from the sidelines.
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It all comes back to the basics: we all need more good-paying jobs, Roediger said. The number of foreclosures in Champaign County has actually declined slightly compared to last year. There were 187 foreclosures from January to August last year, according to figures from the Champaign County Clerk of Courts. That figure was 123 during the same period this year. One in every 537 properties in Ohio had some kind of foreclosure filing against it in August for a total 9,542 filings, including default notices, scheduled auctions and bank repossessions.
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As Housing Market (visit site) Stays Hot, Investors Seem to Have Cooled

homes in bulk. Strong demand from those firms and others has cut inventory and made it hard for other buyers to find homes. But investors are no longer as likely to win bids as they were a year ago. “Within an hour of posting a listing, I often get some of the same investment firms making an offer. It’s not always going to be acceptable to my seller nowadays, but they seem to hope we’ll agree to a lower price,” Blankfeld said. Now that there are fewer bargains, there are fewer incentives for investors to make bids.
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