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Tag Archives: Demand

Report: Forces Behind Price Gains Won’t Last

Though Radar Logic's home price index continued to see strong gains in March, the firm says there are several signs that the trend won't last, the main one being the issue of limited supply. According to Radar Logic, the three supply constraints that will ease with rising prices are low and negative equity, seller psychology, and building activity, all of which are just temporary factors that will fade as the market continues to pick up steam. Once these "unorthodox" market forces fade, demand will also cease, the report says.

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Report: Homebuyer Market Still Hot Despite Price Hikes

As sellers hold their grip on the market, buyers are starting to understand what it's going to take to stay in the game, according to responses in Redfin's second-quarter Real-Time Home-Buyer Report. It was determined that although buyer frustration concerning the low amount of inventory continues to rise, there is an equal elevation in their individuals awareness and recognition of the seller's market, as well as an overall willingness to actually pay more out of pocket for purchasing real estate.

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Existing-Home Sales, Prices Up in April, Activity Constrained

Existing-home sales rose a 0.6 percent in April to an annual sales rate of 4.97 million, the highest level since November 2009, the National Association of Realtors (NAR) reported Wednesday. Economists had expected a 1.6 percent increase to 5.0 million from March's original report of 4.92 million sales. The median price of an existing single-family home jumped $8,900 in the month to $192,800, the highest since August 2008.

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FNC Price Index Rises in March for 13th Straight Month

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The latest Residential Price Index (RPI) from FNC, Inc., shows home price gains continuing in March for the 13th straight month. The index, which is based on recorded sales of non-distressed properties in the nation's 100 largest metros, rose 0.4 percent month-over-month in March and 5.5 percent year-over-year. On a quarterly basis, prices were up 0.7 percent from Q4 2012 and 5.7 percent from Q1 2012 as of the end of March, FNC reported. As usual, growth was more accelerated in the smaller 30- and 10-metro indexes.

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Builder Confidence in 55+ Market Reaches Record High in Q1

The National Association of Home Builders├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ó (NAHB) 55 single-family Housing Market Index (HMI) jumped year-over-year for the sixth consecutive quarter in Q1, the association reported. As of the end of March, the index rested at 46, 19 points above the same period last year and the highest first-quarter number recorded since the inception of the index in 2008. There are two separate 55+ HMIs to represent two segments of the market: single-family homes and multifamily condominiums.

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Retail Sales Rise in April; Building Material Sales Jump

Driven by stronger auto sales (but held back by falling gasoline prices), total retail sales increased an unexpected 0.1 percent in April, the Census Bureau reported Monday. Economists had expected sales to fall 0.3 percent. Sales at building material and supply stores jumped $389 million for the month, a 1.5 percent increase--the largest month-over-month increase since September. Sales at furniture and home furnishings stores were flat to March. Those two retail categories have a direct relationship to home sales.

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Inventory Shortage Hinders Growth in Home Tours

A shortage of homes on the market hamstrung home touring activity in April, but buyers still seem determined to get their offers in, according to Redfin. The brokerage's Real-Time Demand Pulse--a monthly analysis of tour and offer activity from homebuyers across 20 U.S. markets--shows tour requests and signed offers posted stronger monthly gains in April than they did at the same time last year. However, a lack of available homes "softened touring strength somewhat."

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