Data

Out of a poll of more than 2,000 homeowners, Redfin found an even 25 percent would not buy their current home if they had a chance to do it over. Most of the dissatisfaction came from younger people and stemmed from their relationship with the real estate agent, suggesting a generational divide. Not surprisingly, the group with the least buyer’s remorse were those over 65.

In Pennsylvania, LoanLogics, a loan quality management and performance analytics firm, announced two promotions within the company and a new addition to its team: Matt Woolley has moved up to SVP of national sales, Terrell Cassada has been named chief information officer, and Terese L. Campbell has joined as SVP for product management.

Following months of stagnancy, the National Association of Realtors’ (NAR) measure of pending home sales rose in March, the group reported. According to the latest release, NAR’s Pending Home Sales Index (PHSI) rose to 97.4 last month, up 3.4 percent from February’s upwardly revised 94.2. It was the first real pickup in the last nine months, the association said. NAR’s chief economist said the increase was expected with the end of last season’s severe weather.

While strict lending standards may be precluding some from the housing market, one economist insists banks want to lend. It is lackluster employment and slow household formation among Millennials that is hindering the market now, according to Maury Harris, managing director and chief U.S. economist at UBS during a discussion hosted by the National Association of Home Builders (NAHB). “Banks have over $2 trillion of excess reserves,” Harris said. “Banks would like to put that money to work and increase lending, which would help the economy.”

According to the Warren Group, statewide sales dropped 7.8 percent to 2,749 in March, down from 2,980 from the previous year. Home sales in the first quarter were down overall 2.4 percent to 7,557 from 7,745 in last year's first quarter. Timothy J. Warren Jr., CEO of the Warren Group, said, “The low inventory of single-family homes in the market is the primary cause of the decreasing sales activity. Motivated buyers, however, are eagerly bidding for the limited supply which accounts for the increasing sales prices. People want to buy homes before prices and interest rates rise further.”

The number of markets around the nation that have seen home values recover fully rose by six in February, according to data from Homes.com. “February’s rebound progress illustrates how home prices in most markets across the country are appreciating, even in the depths of winter,” said Brock MacLean, EVP for Homes.com. “This is unusual given harsh weather conditions in most markets, but a positive sign as we enter peak season.”

In March, 63.4 percent of offers written by Redfin agents across 19 markets faced competition from other buyers, the national brokerage reported. While that percentage is up a few points from February—owing in some part to more favorable weather—it’s a full 10 percentage points down compared to March 2013.

In a report issued earlier this week, Fitch Ratings announced it is tapering its forecast for 2014 in acknowledgement of what has so far been a “subpar spring selling season.” Sales of both new and existing homes in March fell short of expectations, dashing optimistic projections of a rebound following the end of an unusually harsh winter. Housing starts also disappointed as homebuilders remain concerned about the shape of the market.

Average down payments for mortgages are on the decline, lending a little bit of relief for affordability-challenged homebuyers around the country. According to a report released this week by LendingTree, down payment percentages for 30-year fixed-rate purchase loans fell in the first quarter to an average of 15.78 percent, down from just higher than 16 percent in the last quarter of 2013.

On Thursday, RealtyTrac released its Residential & Foreclosure Sales Report, which showed modest gains in U.S. residential sales in March. The firm reported that March showed a 0.4 percent uptick in overall transactions compared to February and a full 8 percent increase over sales in March 2013. RealtyTrac’s data clashes with other reports released this week about March sales.