Tag Archives: Home Sales

Citing "positive developments occurring in the housing market," A.M. Best is maintaining a stable ratings outlook for title insurance.

Home prices in September were up 5 percent year-over-year while home sales posted a 4 percent annual increase, even as housing metrics began their typical seasonal declines, according to Redfin's analysis of activity across 19 major U.S. markets. Between August and September, these 19 markets saw prices decline just 0.8 percent, which Redfin says is a smaller decline than is customary at this time of year. Over the same period, home sales dropped 17 percent├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øa figure the company says represents "a typical seasonal decline."

In a September National Association of Realtors (NAR) survey related to home appraisals over the past three months, 11 percent of Realtors said a contract was cancelled because a home was appraised at a value below the negotiated price. Another 9 percent said a contract was delayed, and 15 percent said a contract was renegotiated to a lower sale price. One reason for the low values, according to the NAR, is because some appraisers are not taking into account the difference between distressed and non-distressed homes when making comparisons.

The nation's economy generally expanded modestly from mid-August until the end of September, the Federal Reserve said in its periodic Beige Book report issued Wednesday. The report, the last Beige Book to be issued prior to Election Day, painted a mixed regional picture, with a leveling off of economic activity in New York and a slowing in the pace of growth in Kansas City. Meanwhile, the remaining 10 federal reserve districts reported that "growth continued at a modest pace."

The price premium attached to newly-built homes has fallen over the past six months, Capital Economics observed.

The percentage of homes purchased with cash slid down this year from its 2011 peak, suggesting heightened demand from non-investors.

Despite some heavy risks hanging over the industry, Moody's is projecting a positive future for the nation's homebuilders, the agency revealed.

Home prices and home sales are rising, despite lackluster demand of traditional owner-occupied housing, according to Tim Rood of The Collingwood Group.

After reaching a two-year high in July, the Pending Home Sales Index (PHSI) fell in August to 99.2, the lowest level since April, according to the National Association of Realtors (NAR). Having previously predicted that the index would climb to 102.2, declining numbers in three of four census regions surprised analysts. The slippage in both the PHSI and new home sales dampens the outlook for home sales, but NAR emphasized that the August drop hadn't impacted longer-term trends, with the index up 10.7 percent in the last year.

Existing home sales rose 7.8 percent to 4.82 million in August the highest level since May 2010 the National Association of Realtors reported Wednesday. The median price of an existing single in August was $187,400, down $400 from July but up $16,200 or 9.5 percent from August 2011. Economists had expected the sale pace to be 4.55 million. The percentage gain in sales was the strongest since last August when sales improved 8.9 percent month-over-month, the strongest month-month gain of the year.