The Honolulu real estate market is somewhat difficult to evaluate, due to a continued high rate in foreclosures and conflicting data from two different sources of real estate information. According to a May 20, 2010 article from the Honolulu Advertiser, “A national mortgage industry survey suggests that the number of Hawaii homes undergoing foreclosure rose in the first quarter compared with a year earlier. The Mortgage Bankers Association said in a report released yesterday that 7,889 home loans statewide were in foreclosure at the end of the quarter, representing 4.76 percent of loans.” The piece, composed by Andrew Gomes, continued to note that “That was up from 2.91 percent a year earlier and 4.5 percent at the end of last year. Compared with other states and the District of Columbia, Hawaii’s foreclosure level was eighth worst.”

Despite what seems to be an overall positive trend, the Honolulu real estate market was faced with two conflicting reports about home values from two different sources. According to a May 26, 2010 piece from the Honolulu Advertiser, “A federal report suggests that Oahu home values aren’t as positive as indicated by local sales data, though the market appears to be on a path of improvement. The Federal Housing Finance Agency yesterday reported that Oahu single-family home values in the first quarter were down 4.5 percent compared with the same quarter last year.” The article by Andrew Gomes went on to note that “The figure compares with a 4.4 percent rise in the median price for Oahu single-family homes sold in the first quarter as reported by the Honolulu Board of Realtors. It’s debatable which assessment is more accurate. Some observers consider the federal report a better measure of the housing market because of how it calculates values.”

Owners of Honolulu real estate have had considerable difficulty in making their mortgage payments, according to a recent Associated Press report. This May 13, 2010 article found that “While there are signs of economic recovery, homeowners in Hawaii continue to struggle to meet their mortgage payments. The real estate research firm RealtyTrac reports 1,474 properties in the state received foreclosure notices in April. That’s more than double the 684 recorded in the same month last year.”

The Saint Louis real estate market is staying relatively steady even as much of the rest of the country remains enveloped in financial crisis. According to an April 30, 2010 article in the Saint Louis Business Journal, “Missouri has managed to avoid the worst of the residential mortgage debacle, with loan delinquency and foreclosure rates substantially lower than the national averages. That’s not the case in Illinois. ‘In Missouri, we haven’t had the serious highs or the serious lows that the ‘sand states’ and states with really big cities have had,’ said Dough Schukar, president of USA Mortgage in Creve Coeur, which closed $1.2 billion in mortgages in 2009.” The article, composed by Greg Edwards, continued to find that “The overall residential foreclosure rates – encompassing prime, subprime, FHA and VA loans – were 2.1 percent in Missouri and 5.62 percent in Illinois at the end of 2009. The national average was 4.58 percent.”

A bit of positive news for Saint Louis homes for sale was reported in an April 22, 2010 article from the Saint Louis Post-Dispatch. This piece found that “Home sales surged 22 percent in the St. Louis-area in March, powered by low interest rates and prices an $8,000 tax credit that’s due to end next week. There were 2,620 single-family homes sold in the 11-county region, according to data compiled by the Post-Dispatch from local real estate services. Sales grew in every county from last March, and the median price increased across much of the region.” The article, composed by Tim Logan, continued to say that “The gains echo national figures released this morning by the National Association of Realtors, which reported a 16.1 percent bump in sales nationwide from last March, and a 6.8 percent increase from February.”

The same good news for Saint Louis real estate was echoed by a May 2, 2010 article from the Globe-Democrat. This piece, written by Joan Tabash-Cubow, found that “Existing home sales are showing a real fervor in March, year-over-year growth on a national level is roughly 15 percent. Tax credits and low interest rates are driving the strong sales.”

The Anaheim real estate market, which depends heavily on and reflects the larger Orange County real estate market, continued to improve slightly in recent months. According to an April 13, 2010 article in OCLNN, “The Orange County housing market continues to slowly improve, with an increase in prices and sales volume reported for March. According to numbers released Tuesday by DataQuick, the median sales prices for an OC home was $432,000 in March, up 12.2 percent from March 2009 and 3 percent from February 2010. Sales, meanwhile, also increased in OC: There were 2,652 sales in March, up 9 percent from March 2009.” The piece, written by Mike Reicher, continued to note that “An uptick in sales volume is common from February to March. This is the 20^th gain in sales compared to the previous year during the last 21 months. The sales volume, however, is still below the historical average.”

The same general picture regarding the cost of an Anaheim home for sale was reported in an April 13, 2010 article from the OC Metro. This piece noted that “Orange County’s median home price shot up 12.2 percent in March, compared to the same time last year, according to a new report released by DataQuick. The number hit $432,000 in the period, up from $385,000 at the same time last year.” The article, written by Kristen Schott, continued to say that “The price also increased over February, when the region’s median came in at $417,000. The news points to a continued steady improvement in O.C.’s and Southern California’s residential real estate industry, according to DataQuick.”

Still, the Anaheim real estate market continued to face some serious problems, according to a May 2, 2010 article in OC Metro, which found that “Orange County’s housing market is among the riskiest in the nation, according to a new study from Walnut Creek-based PMI Group.” The piece, composed by Kristen Schott, continued to say that “The second-quarter U.S. Market Risk Index, which bases its statistics on fourth-quarter data, shows that there’s a 99.8 percent chance that home prices will decline in the Santa Ana-Anaheim-Irvine metropolitan area over the next two years.”

The Michigan real estate market, along with the rest of the fragile Michigan economy, is tentatively trending towards a recovery, although foreclosures remain a serious problem for the state. According to an April 13, 2010 article in The Detroit News, “Metro Detroit’s residential real estate market continued to improve in March but experts are divided about whether it signals a housing rebound or a lull before a foreclosure-induced relapse.” The piece, composed by Louis Aguilar, continued to state that “The median sales price as well as the number of sales of homes and condominiums saw large jumps in most of Metro Detroit compared with the same period a year ago, according to the monthly data by Realcomp II Ltd. In Wayne County, the median sales price of homes and condominiums rose 120.3 percent to $33,050 compared with March 2009, the Farmington Hills-based multilisting real estate tracking service reported.”

That same general picture for Michigan homes for sale was portrayed by an April 13, 2010 article in Crain’s Detroit Business, which stated that “The number of homes sold in Southeast Michigan in March increased compared to 2009 despite a drop in foreclosures, according to new statistics from Farmington Hills-based Realcomp II Ltd. However, the median price for non-foreclosure sales continued its decline, though the sale price of foreclosures has shown enough of an increase to bring the overall median sale price into positive territory across the region.” The article, written by Daniel Duggan, continued to note that “Meanwhile, Ann Arbor posted higher median sales figures and unit sales, according to the Ann Arbor Area Board of Realtors, however foreclosure sales are not broken out of the data.”

An April 13, 2010 article from Click On Detroit was even more optimistic about the Michigan economy and real estate, stating that “There’s some good news for Michigan’s economy. Home sales for the month of March are on the rise. Realcomp has released a report with home sales statistics for March 2010. The total home sales rose 37 percent statewide compared to March 2009. In Metro Detroit, Oakland County saw the biggest gain with a 30 percent increase. Macomb County home sales were also up, with a 21 percent gain from last year.”

The Indianapolis real estate market has been facing mixed signals in the first quarter of 2010, with some indicators pointing towards a gradual recovery and others suggesting further problems with foreclosures and defaults. According to a March 23, 2010 article from WIBC, “Data gathered by First American CoreLogic shows payments on nearly 8 percent of all home loans in the 10-county Indianapolis metro area are at least 90 days overdue. The troubling figure comes despite efforts by the government, banks, and other lenders to assist homeowners struggling to bounce back from the recession.” The piece, composed by Liz Thomas, continued to note that “Bob Coffee, Fort Wayne Area Association of Realtors, says many residents wait too long to look for assistance. ‘They don’t necessarily seek the help as quickly as they should, and they may not exactly know where to go for help,’ Coffee said. About 150,000 mortgages were modified nationally in January. But about 4 million American homeowners still remain at risk for foreclosure.”

One effect that an increase in foreclosures could have on Indianapolis homes for sale is a decline in home prices, according to an April 2, 2010 article in the International Business Times. This piece noted that “Indianapolis cheap homes are expected to jump up this year because of the sharp rise in mortgage defaults in the area, based on records from the Fort Wayne Area Association of Realtors and a research firm.” The piece, composed by John Cutts, continued to state that “In January, the home loan delinquency rate in the Indianapolis metro area jumped up to almost 8 percent of all mortgaged homes, the highest rate hit in the area over the past 12 months.”

A decidedly more conflicted picture was portrayed by a March 24, 2010 article from Fox 59, which found that “Sales in Hendricks County fell more than 6 percent. But according to the Indiana Association of Realtors, Hamilton County was one of the bright spots. It saw a 10 percent jump in sales. And there is more good news. The statewide median sales price is up almost 7 percent from a year ago. But the good news in the housing market stops there. New data shows Indiana could soon experience another surge in foreclosures.”

One of the highest-priced communities in one of the highest-priced real estate communities in America, Corona del Mar, California, is an upscale community of large, luxurious homes in Southern California’s famed Orange County. Over the past couple of years, the community has seen its real estate market go for a wild ride as the community felt the squeeze from the wider financial crisis as many of its residents lost assets and jobs and were forced from their homes and unable to sell for their original values.

The Corona del Mar real estate has seen many fluctuations over the past two years, and one can only wonder when the community’s market will again return to a stable condition. According to statistics published on an Orange County Register real estate blog in March, the month of February showed mixed signals in the Corona del Mar market. There were 13 homes sold in the community for the month, an increase of 30% from figures of the year prior and an encouraging sign.

However, pricing still shows much room for improvement. The median price of a home sold in Corona del Mar in February was $1.3 million, a drop of more than 26% from the median price in February of 2009. Pricing of Corona del Mar homes for sale showed a similar trend throughout the whole of 2009. According to Data Quick, the service from which the OC Register obtains its data, in all of 2009, Corona del Mar saw a median price of $1.35 million, down nearly 23% year-over-year. Despite the troubling pricing, sales activity was up — with 169 homes sold in 2009, up 13.4% from 2008.

Despite the wavering signals in Corona del Mar, the whole of Southern California seems to be showing signs for relief, and perhaps the Corona del Mar market will pick up along with the rest of the area in due time. Homes sales in the SoCal region have been up from 20 months in a row and as of mid-March, overall, median prices rose year-over-year for three months straight.

Huntington Beach is a relatively large city found in the Orange County region of Southern California. The Huntington Beach real estate market depends heavily on the larger trends experienced by the Southern California and Orange County areas. One potential problem facing Huntington Beach real estate is the foreclosure rate, as reported by the Orange County Metro. The article, written on February 16, 2010, noted that “Foreclosure notifications in Orange County rose slightly in January from the previous month, but the number still remains significantly lower than January of 2009′s figure.” According to an the piece, written by Carol Starcevic, further found that “The increase in third-party sales signals a growing trend in the distressed real estate market. The report indicates that investors are reporting increased competition and higher bids at auctions, bringing the average discount to 17.5 percent last month, which is down from 18.6 percent in December.”

Huntington Beach home sales decreased substantially in some areas during the later portion of January and some early days in February. The article, written by real estate reporter Marilyn Kalfus, found that “For the 22 business days ending February 5, DataQuick’s freshest homebuying stats show these trends in Surf City: City sales totaled 102 – that’s -8% vs. a year ago. Countywide, sales were +8% vs. a year ago in (the) same period.”The piece, published on March 1, 2010, continued to note that “Of the city’s 4 ZIP codes, 1 had sales gains vs. a year ago while 3 had a gain in their median selling price vs. a year ago. None of Huntington Beach’s 4 ZIP codes beat the 14.9% overall performance of the countrywide median for the past year.”

Huntington Beach real estate was heavily influenced by the larger trends of the Southern California real estate market. According to a February 17, 2010 article in the Los Angeles Times, “Southern California home prices rise 8.6%. But January’s year-over-year increase to $271,500 is a 6.1% drop from December. Total sales climb about 1% from a year earlier.” The piece, written by Alejandro Lazo, continued to find that “But compared with a particularly strong December, the median fell 6.1% to $271,500 in January, ending eight consecutive months of price appreciation or stability in the Southland, MDA DataQuick, a San Diego real estate research firm, said Tuesday.”

Although median sales prices are still below the previous year’s levels, home sales have picked up significantly over the past few months, offering real estate experts with optimistic views of the futures.  The economic recession of 2008 has caused major problems for Seattle real estate, especially the commercial real estate market, which hasn’t shown as promising signs as the residential real estate market.  The luxury home market is still basically at a standstill, and foreclosure rates are still rising.  Although many experts can see the light at the end of the tunnel, it is unclear as to how long it will take for the Seattle real estate market to get there and begin its recovery.

According to DQNews.com, the Seattle region posted a slight dip in home sales between the months of October and November, but the current levels are still well above that of the same period during the previous year.  During the month of November, a total of 3,967 new and resale houses and condos were sold in the Seattle area, which was a slight 5.9 percent slip from that of the previous month, but a 84.2 percent increase from that of November of 2008.  Realtors aren’t worried about the slight slip in home sales, though, because historical data trends have shown the decline in home sales to be normal.  In November, Seattle also posted a 2.5 percent decline in median sales price between November and October from $295,000 to $287,550.  The median sales price is still about 3.9 percent below that of the previous year during the same period.  Realtors have also reported that luxury home sales have also come to a near standstill, with only about 2 percent of all home sales being those valued at over $1 million.

The Seattle Times has also reported that the commercial real estate in Seattle continues to struggle and is expected to perform similarly to that of 2009, showing very little declines or improvements.  Seattle continues to suffer from high vacancy rates for both office and industrial properties with an oversupply of rentals, and real estate experts have noted that numerous development projects started several years ago during the real estate boom are expected to be done this year, increasing the vacancy rates.  Many landlords are bracing themselves for a rough year and are ready to take extra measure to keep the tenants that they still have.

Like many markets in the South, the Nashville real estate market has experienced a severe repositioning since the onslaught of the U.S. housing market collapse brought about by the subprime mortgage crisis. Since the beginning of the crisis, the Nashville real estate market has seen declines in home prices, lower sales volume, higher inventory and more foreclosures as homeowners grapple with the effects of the recession.

Recently, however, real estate in Nashville has begun to stabilize out slightly, with smaller fluctuations in prices and sales volume. In October, inventory continued to clear out, much being taken off the market as home buyers continued to cash in on the government rebate program offering first-time buyers who qualify up to $8,000 in tax rebates. The rebate has been extended to more potential buyers and is expected to continue to buoy the market. In Nashville, the inventory level was down 2.4% in October from September. The inventory was down 3.58% from 2008 levels.

Homes for sale in Nashville are still seeing low sales prices, however, compared with the highs of 2005 and 2006. October’s median price stood at $157,761, slightly changed from September’s $157,863, showing that the price levels may be stabilizing. The inventory stands currently at an eight-month supply, down from October of 2008′s 10.3-month supply.

Sales were spurred in October. Since January, according to local realtor Grant Hammond, pending sales have skyrocketed by more than 60%. Sales volume in October was 40% higher than at  the same time last year, an encouraging sign that the market is certainly active. Closed sales in October were up nearly 20%.

Despite optimistic views of the Cincinnati real estate market due to recent increases in median sales prices, many real estate experts in Cincinnati are still unsure when the Cincinnati real estate market will hit bottom and be ready to rebound.  Many experts feel that there are still major obstacles to the recovery of the real estate in Cincinnati, with job security being one of the major ones.  Real estate levels in Cincinnati also fail to show consistent improvements from month to month, adding to the uncertainty of the future of the Cincinnati real estate.  However, many real estate experts believe that the performance of the Cincinnati real estate over the next few months should provide an outlook on the future of the Cincinnati real estate and when recovery will begin.

According to the Business Courier in Cincinnati, Cincinnati is among to top 15 cities in gains in median home sales prices.  Although median prices declined slightly in September of 2009, Cincinnati ranked 13^th out of 50 cities for quarter over quarter gains in home prices.  Cincinnati posted an 11.5 percent increase in home prices in quarter to quarter gains, but the market was still suffering from a 6.3 percent decline in home prices compared to the same period in 2008.  Many real estate experts have noted that the Midwest is leading the nation in real estate recovery, primarily due to the large inventory of affordable housing options.  Much of the real estate activity in Cincinnati is taking place in the lower priced real estate markets.  However, many experts are still concerned that the problems with job security will continue to be a major obstacle to the improvement and recovery of the Cincinnati real estate market.  Full recovery of the Cincinnati real estate market will not be possible if unemployment continues to plague the Cincinnati economy.

The Cincinnati Enquirer has reported that many realtors and real estate experts are anxious to see how the Cincinnati real estate market performs in the coming months as many believe that the extension of the federal home-buyers tax credit will fuel an increase in activity in the Cincinnati real estate market in the coming months, especially as the deadline approaches in April of 2010.  Many realtors feel that the tax credit has been a major factor in the slight improvements seen over the past few months, and many expect it to be one of the major factors leading to the recovery of the Cincinnati real estate market.