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Tag Archives: Existing-Home Sales

NAR: Existing Home Prices See Strong Annual Gains in Q3

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A lower supply of inventory and fewer distressed sales led to stronger home price gains across the country, the National Association of Realtors (NAR) revealed in a recent report. On a national level, the median price for existing single-family homes increased 7.6 percent to $186,100 in the third quarter of this year compared to last year, the strongest annual gain since first-quarter 2006. The median price for existing homes improved in 120 out of 149 areas since last year.

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Homeownership Increases in Q3, Rate Remains Flat

The number of owner-occupied homes reached 75,076,000 in the third quarter, increasing from 74,832,000 in the second but down from 75,251,000 a year ago, the Census Bureau reported Tuesday. At the same time, the nation's homeownership rate (seasonally adjusted) remained near historic lows, hovering at 65.5 percent. The stagnant homeownership rate combined with a decline in the number of units held off the market suggests opportunities for home sales.

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Case-Shiller Price Index Reaches 2-Year High in August

U.S. home prices continued to increase in August as the Case Shiller 20-city Home Price Index rose 0.9 percent to its highest level since September 2010. The index is up 2.0 percent in the last year, showing improvement in 19 of the 20 cities surveyed. The 10-city also rose 0.9 percent in August, increasing 1.3 percent ahead of August 2011 and reaching its highest level since October 2010. The monthly gain in each index was slower than in July, when the 10-city index went up 1.5 percent and the 20-city index improved 1.6 percent.

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Pending Home Sales Index Shows Small September Gain

The Pending Home Sales Index (PHSI) rose ever so slightly in September, the National Association of Realtors reported Thursday, tempering the much-heralded housing sector revival. The Index inched up to 99.5, an improvement of 0.3 percentage points over August's 99.2. Economists had expected the index to jump 2.5 percent to 101.7.

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Could Economic Malaise Spell Just One Term for Obama?

When he ran for the presidency in 1980, Ronald Reagan, then Republican governor of California, struck at then-President Jimmy Carter over the strength of the economy. His question for Americans: "Are you better off now than you were four years ago?" That's the question Paul Ashworth and Paul Dales, senior analysts with Capital Economics, offered to answer in a report released by the consultancy on Friday. The report breaks down recent economic trends, including GDP, home sales, and median income.

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Pending-Home Sales Index Recovers in July: NAR

In another positive sign for the housing sector, the Pending Home Sales Index rose 2.4 percent in July to 101.7, its highest level since April 2010, the National Association of Realtors reported Wednesday. Economists had expected a 1.0 percent increase to 100.3. The July increase more than reversed an unexpected 1.4 percent drop to 99.3 in June. The only negatives in recent reports were a slight drop in housing starts in July and drops in the median price for existing and new homes in July.

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Is a Housing Recovery Under Way in the Sunshine State?

After seeing some of the worst of the housing crash, Florida is continuing its steady bounce back, Florida Realtors reported Wednesday. According to the group, the Sunshine State saw increases in pending sales, closed sales, and median prices in July, while inventory of homes and condos for sale dropped. Closed sales of existing single-family homes in the state totaled 17,420 in July, a 9.8 percent year-over-year increase. The statewide median sales price for single-family homes was $148,000, up 7.8 percent year-over-year.

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Existing-Home Sales Rise in July, Just Shy of Expectations

Existing homes sale rose to an annual rate 4.47 million in July, the National Association of Realtors reported Wednesday. Economists had expected the sale pace to be 4.51 million. Economists had expected the sale pace to be 4.51 million. The median price of an existing home though fell in July for the first time since January. The median price of an existing home fell $1,500, 0.8 percent, from June to $187,300. The median price was up year-over-year for the fifth straight month in July.

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Pending-Home Sales Make Strong Debut in May: NAR

The Pending Home Sales Index rose a strong 5.9 percent in May to 101.1, returning to its level of March, the National Association of Realtors said Wednesday. The index had slipped in April to 95.5 after reaching its highest level since April 2010. The index is up a solid 13.3 percent since May 2011. The report is another in a string of positive signs for the housing sector. Pending home sales are counted when sales contracts are signed, and are viewed as a leading indicator of existing home sales, according to NAR.

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