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need to know
The 11 richest people on the planet under 35
Get last-minute, cheap Broadway tickets
Babe Ruth’s New York apartment is for sale
Vera Bradley soars on results, upbeat outlook

Where every Fed member stands on raising rates  
Fed Beige Book finds increasing wage pressures
Where every Fed member stands on rates
Rate-hike question is what Yellen didn’t want
Boston Fed president: Sept. doubt remains

Bill Gross calls a Fed rate hike ‘too little, too late’
FDIC chief: Rates may catch banks off-guard
Junk-bond stress level climbs to 5-year high

Inside the strongest S&P sector, the 10 best stocks

History’s lessons in surviving market crashes

They tangled with student debt all summer

Why gold now looks more risky than stocks
Why gold now looks more risky than stocks: Reeves

Still too many gold market bulls, says Hulbert

GoPro’s stock rocked by supplier’s outlook

Intel hopes its chip retool can revive PC sales

Private sector adds 190,000 jobs in August: ADP

U.S. productivity rises at fastest pace since end of 2013
Productivity rises at fastest pace since end of 2013

Donald Trump, Hillary Clinton playing game of liar’s poker with the voters
Trump, Clinton play game of liar’s poker: Delamaide
Bush mounts ‘germophobe’ attack on Trump

Workers don’t do better in unions
Opinion: Workers don’t do better in unions
Raising wages to $15 would raise prices by 4%
LA: $15 wage will lift 600,000 out of poverty

Growing doubts among Viacom investors lead to 50% stock drop
Growing doubts among Viacom investors

China stock market to close for World War II anniversary
China tightens controls to fight capital outflows

Guide to managing money from your 20s to your 70s
Guide to managing money from your 20s to your 70s
Take your company pension, or buy an annuity?
Don’t overcomplicate 401(k) transfer to an IRA
Is this all the investing advice you’ll ever need?

Uber drivers lawsuit  endangers much more than Uber
Uber will likely appeal class-action decision
Uber driver suit can proceed as class action

McDonald’s set to offer all-day breakfast

Teacher with 111 tardies blames breakfast

What to expect at September Apple event
What to expect from the Apple event on Sept. 9
New on the shelves of your Apple Store: drones
Apple talks to Hollywood for exclusive content
Lost Apple deal leads to 40% job cut at GT

These are the cars that get the most Instagram attention
Best time to buy a new car may be just ahead
U.S. car sales are stronger than expected

10 cities in U.S. with the very worst traffic problems
Lowest Labor Day gas prices in 11 years: AAA


/conga/frontpage.html 353970

Markets »

65.40MDow Volume:
Avg Vol: 111.86M
Unchanged
193
Decliners
2060
Advancers
4288
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,275 +217 1.35%
Nasdaq
/quotes/zigman/12633936/realtime 4,709 +73 1.57%
S&P 500
/quotes/zigman/3870025/realtime 1,937 +23 1.20%
GlobalDow
/quotes/zigman/629063/realtime 2,307 +12 0.50%
Gold
/quotes/zigman/662444/delayed 1,134 -6 0.52%
Oil
/quotes/zigman/2331095/delayed 46.18 +0.77 1.70%
FTSE 100
/quotes/zigman/3173262/delayed 6,083 +25 0.41%
DAX
/quotes/zigman/2380246/delayed 10,048 +32 0.32%
CAC 40
/quotes/zigman/3173214/delayed 4,555 +14 0.30%
FTSE MIB
/quotes/zigman/1482176/delayed 21,612 +161 0.75%
IBEX 35
/quotes/zigman/2759620/delayed 9,938 -55 0.55%
Stoxx 600
/quotes/zigman/2380150/delayed 354 +1 0.27%
Asia Dow
/quotes/zigman/6959860/realtime 2,703 -14 0.53%
Nikkei 225
/quotes/zigman/5986735/delayed 18,095 -70 0.39%
Hang Seng
/quotes/zigman/2622475/delayed 20,935 -250 1.18%
Shanghai
/quotes/zigman/1859015/delayed 3,160 -6 0.20%
Sensex
/quotes/zigman/1652085/delayed 25,454 -243 0.95%
Singapore
/quotes/zigman/1709939/delayed 2,878 -5 0.16%
Euro
/quotes/zigman/16008136/realtime/sampled 1.12 -0.01 0.69%
Yen
/quotes/zigman/16008150/realtime/sampled 120.25 +0.88 0.73%
Pound
/quotes/zigman/16008140/realtime/sampled 1.53 +0.00 0.06%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.70 +0.00 0.27%
DXY Index
/quotes/zigman/1652083/delayed 95.81 +0.44 0.46%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.51 +0.34 0.39%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.19 +0.03 1.52%
German 10y
/quotes/zigman/15866409/realtime 0.78 -0.02 1.96%
Italy 10yr
/quotes/zigman/15866497/realtime 2.00 0.00 0.02%
Spain 10yr
/quotes/zigman/15866444/realtime 2.15 +0.01 0.45%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.82 -0.01 0.55%
Japan 10yr
/quotes/zigman/15866525/realtime 0.39 +0.03 8.56%
Crude Oil
/quotes/zigman/2331095/delayed 46 +1 1.70%
Gold
/quotes/zigman/662444/delayed 1,134 -6 0.52%
Corn
/quotes/zigman/7599553/delayed 367 -2 0.54%
DJIA F
/quotes/zigman/38649152/delayed 16,267 +180 1.12%
S&P F
/quotes/zigman/30356461/delayed 1,937 +21 1.08%
Silver
/quotes/zigman/3134148/delayed 15 +0 0.34%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 89.29 2.06 2.36%
AAPL /quotes/zigman/68270/composite 111.10 3.38 3.13%
GOOG /quotes/zigman/30194416/composite 607.12 9.33 1.56%
BAC /quotes/zigman/190927/composite 15.75 0.22 1.42%
C /quotes/zigman/5065548/composite 51.42 0.48 0.93%
F /quotes/zigman/264304/composite 13.82 0.10 0.69%
T /quotes/zigman/398198/composite 32.66 0.34 1.05%
BP /quotes/zigman/247026/composite 32.32 0.18 0.56%
GE /quotes/zigman/227468/composite 24.50 0.62 2.58%
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

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Cities With Least Realistic Home Prices

The asking price is the starting point for all home sales, a ballpark figure typically close to what buyers end up paying. But the nation’s real estate market is so out of whack, experts say, that in many cities the gap between the asking and purchase prices has grown enormous. In fact, while home sales are on the decline nationally, list prices keep rising.

Existing single-family home sales fell 2.6% in March from a month earlier to a seasonally adjusted rate of 4.48 million units, according to data released Thursday by the National Association of Realtors. Meanwhile, the median sales price rose to $163,800, up 5% from February and up 2.5% from a year prior. On a national level, the data suggests that individuals who are buying homes are willing to pay more. On a regional level, however, buyers’ offers vary significantly.

In some markets, sellers aren’t getting what they’re asking for or anywhere near it. In the Atlanta metro area, for instance, the median list price was $150,000 in December, according to Realtor.com. But the median sales price was just $90,600 at the end of the year, according to the latest data from the NAR. In Jacksonville, Fla., the median listing price is 34% higher than the median sales price, while in Washington D.C. it’s 13% higher.

It appears these price gaps between asking and actual sales prices continued into March. This week, Realtor.com reported that median list prices rose 5.6% in March from a year prior. Meanwhile, national median sales prices over this period rose just 2.5%, according to the NAR. March marks the beginning of the peak home buying season that stretches through the summer. List prices tend to rise with the temperature, says Julie Reynolds, a spokeswoman for Realtor.com.

Still, experts say asking prices in some cities appear to be way off. When there’s a $50,000 or more difference between the asking and selling price, that’s a sign that the house is likely overpriced, says Mark Goldman, real estate lecturer at San Diego State University’s Corky McMillin Real Estate Center. “Sellers and their agents are more optimistic than the buyers closing on deals,” he says.

For their part, realtors in Atlanta and Washington, D.C., say that the difference is largely due to lagging buyer demand for homes in the suburbs that’s led to homes selling at discounted prices. They say real estate in the city is in high demand and selling near asking prices. In some areas, foreclosure sales, which typically sell at a discount, are pulling selling prices of non-distressed homes down.

SmartMoney crunched the numbers to find the metro areas where the gap between listing prices and the actual purchase prices are the largest and the areas where they’re the smallest:

«»

Comments

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (5 of 36)

View all Comments »
    • -1′

    • I am NAR and you can rely on my “data.” Trust me…Have I ever lead you wrong before?

    • The truth is that banksters are MANIPULATING the nationwide RE market by carefully rationing the amount of distressed properties that they allow to TRICKLE onto the open market.

      At the same time, most Americans currently buying homes are FHA-sponsored DEADBEATS who can barely manage to scrape together the prerequisite 3% downpayment. Is it any wonder that 15% of these slobs fall into DEFAULT (yet again) withing the first 24 months?

      Good luck trying to “fix” the U.S. economy by openly promoting
      F-R-A-U-D.

      Why would ANYBODY with REAL

    • my best friend’s mother-in-law brought home $12987 the prior month. she is making income on the laptop and got a $519600 house. All she did was get fortunate and follow the steps explained on this link (Click on menu Home more information) http://goo.gl/z7U5j

    • Here in the Inland Empire (California’s San Bernardino / Riverside Counties) the asking for resale depends upon the seller. Whether the seller is selling short or bought too high and wants to get their money back. The medium 4 bedroom 3 bath 3,000 square foot home is $425,000 being listed as $500K plus. The selling price however averages $328K and is going downward on buy offers going lower. The figures are based upon 76 resale homes sold.

About Real-Time Advice

  • How breaking news — in the markets, Washington, and around the world — affects you and your money. Have a question about how current events may change your financial future? Email us at ask@smartmoney.com.

MarketWatch - Stock Market Quotes, Business News, Financial News

New York Markets Close in:

need to know
The 11 richest people on the planet under 35
Get last-minute, cheap Broadway tickets
Babe Ruth’s New York apartment is for sale
Vera Bradley soars on results, upbeat outlook

Where every Fed member stands on raising rates  
Fed Beige Book finds increasing wage pressures
Where every Fed member stands on rates
Rate-hike question is what Yellen didn’t want
Boston Fed president: Sept. doubt remains

Bill Gross calls a Fed rate hike ‘too little, too late’
FDIC chief: Rates may catch banks off-guard
Junk-bond stress level climbs to 5-year high

Inside the strongest S&P sector, the 10 best stocks

History’s lessons in surviving market crashes

They tangled with student debt all summer

Why gold now looks more risky than stocks
Why gold now looks more risky than stocks: Reeves

Still too many gold market bulls, says Hulbert

GoPro’s stock rocked by supplier’s outlook

Intel hopes its chip retool can revive PC sales

Private sector adds 190,000 jobs in August: ADP

U.S. productivity rises at fastest pace since end of 2013
Productivity rises at fastest pace since end of 2013

Donald Trump, Hillary Clinton playing game of liar’s poker with the voters
Trump, Clinton play game of liar’s poker: Delamaide
Bush mounts ‘germophobe’ attack on Trump

Workers don’t do better in unions
Opinion: Workers don’t do better in unions
Raising wages to $15 would raise prices by 4%
LA: $15 wage will lift 600,000 out of poverty

Growing doubts among Viacom investors lead to 50% stock drop
Growing doubts among Viacom investors

China stock market to close for World War II anniversary
China tightens controls to fight capital outflows

Guide to managing money from your 20s to your 70s
Guide to managing money from your 20s to your 70s
Take your company pension, or buy an annuity?
Don’t overcomplicate 401(k) transfer to an IRA
Is this all the investing advice you’ll ever need?

Uber drivers lawsuit  endangers much more than Uber
Uber will likely appeal class-action decision
Uber driver suit can proceed as class action

McDonald’s set to offer all-day breakfast

Teacher with 111 tardies blames breakfast

What to expect at September Apple event
What to expect from the Apple event on Sept. 9
New on the shelves of your Apple Store: drones
Apple talks to Hollywood for exclusive content
Lost Apple deal leads to 40% job cut at GT

These are the cars that get the most Instagram attention
Best time to buy a new car may be just ahead
U.S. car sales are stronger than expected

10 cities in U.S. with the very worst traffic problems
Lowest Labor Day gas prices in 11 years: AAA


/conga/frontpage.html 353970

Markets »

65.40MDow Volume:
Avg Vol: 111.86M
Unchanged
193
Decliners
2060
Advancers
4288
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,275 +217 1.35%
Nasdaq
/quotes/zigman/12633936/realtime 4,709 +73 1.58%
S&P 500
/quotes/zigman/3870025/realtime 1,937 +23 1.20%
GlobalDow
/quotes/zigman/629063/realtime 2,307 +11 0.50%
Gold
/quotes/zigman/662444/delayed 1,134 -6 0.53%
Oil
/quotes/zigman/2331095/delayed 46.13 +0.72 1.59%
FTSE 100
/quotes/zigman/3173262/delayed 6,083 +25 0.41%
DAX
/quotes/zigman/2380246/delayed 10,048 +32 0.32%
CAC 40
/quotes/zigman/3173214/delayed 4,555 +14 0.30%
FTSE MIB
/quotes/zigman/1482176/delayed 21,612 +161 0.75%
IBEX 35
/quotes/zigman/2759620/delayed 9,938 -55 0.55%
Stoxx 600
/quotes/zigman/2380150/delayed 354 +1 0.27%
Asia Dow
/quotes/zigman/6959860/realtime 2,703 -14 0.53%
Nikkei 225
/quotes/zigman/5986735/delayed 18,095 -70 0.39%
Hang Seng
/quotes/zigman/2622475/delayed 20,935 -250 1.18%
Shanghai
/quotes/zigman/1859015/delayed 3,160 -6 0.20%
Sensex
/quotes/zigman/1652085/delayed 25,454 -243 0.95%
Singapore
/quotes/zigman/1709939/delayed 2,878 -5 0.16%
Euro
/quotes/zigman/16008136/realtime/sampled 1.12 -0.01 0.69%
Yen
/quotes/zigman/16008150/realtime/sampled 120.25 +0.88 0.74%
Pound
/quotes/zigman/16008140/realtime/sampled 1.53 +0.00 0.05%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.70 +0.00 0.26%
DXY Index
/quotes/zigman/1652083/delayed 95.81 +0.44 0.46%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.51 +0.34 0.39%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.19 +0.03 1.52%
German 10y
/quotes/zigman/15866409/realtime 0.78 -0.02 1.96%
Italy 10yr
/quotes/zigman/15866497/realtime 2.00 0.00 0.02%
Spain 10yr
/quotes/zigman/15866444/realtime 2.15 +0.01 0.45%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.82 -0.01 0.55%
Japan 10yr
/quotes/zigman/15866525/realtime 0.39 +0.03 8.56%
Crude Oil
/quotes/zigman/2331095/delayed 46 +1 1.59%
Gold
/quotes/zigman/662444/delayed 1,134 -6 0.53%
Corn
/quotes/zigman/7599553/delayed 367 -2 0.54%
DJIA F
/quotes/zigman/38649152/delayed 16,269 +182 1.13%
S&P F
/quotes/zigman/30356461/delayed 1,936 +20 1.05%
Silver
/quotes/zigman/3134148/delayed 15 +0 0.34%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 88.98 1.75 2.01%
AAPL /quotes/zigman/68270/composite 111.08 3.36 3.11%
GOOG /quotes/zigman/30194416/composite 607.12 9.33 1.56%
BAC /quotes/zigman/190927/composite 15.75 0.22 1.42%
C /quotes/zigman/5065548/composite 51.42 0.48 0.93%
F /quotes/zigman/264304/composite 13.81 0.09 0.66%
T /quotes/zigman/398198/composite 32.65 0.33 1.02%
BP /quotes/zigman/247026/composite 32.32 0.18 0.56%
GE /quotes/zigman/227468/composite 24.50 0.62 2.58%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
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Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
  • /quotes/zigman/8669138/composite DWTI+0.13%
  • /quotes/zigman/413712/composite USO+0.07%
  • /quotes/zigman/20226781/composite BEAT+9.09%
  • /quotes/zigman/66695/composite VDSI0.00%
  • /quotes/zigman/12221594/composite AMBA-13.69%
X
Powered by StockTwits
Link to MarketWatch's Slice.

As of July 2, 2013, the SmartMoney content you loved now lives on MarketWatch.

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  • Personalized news and quote email alerts
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