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Tag Archives: Existing-Home Sales

Economy Will Improve With Home Sales, Starts: ABA

Eleven chief economists forecasted Friday that the U.S. economy will continue to improve modestly as job growth steadies, along with easing declines in home prices, sales, and starts. The 11 economists all from banks and members of the American Bankers Association's economic advisory committee said that GDP growth rose to 2.5 percent in 2011. The committee also said home sales and starts could catch an upward draft seen in 2011 that lasts this year, with home prices likely continuing to stagger.

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Home Sales, Housing Markets Will Lift in 2012: Fannie Mae

The economy will drift upward in 2012 as incremental changes take place in the housing market, with a divisive and uncertain policy environment the darkest cloud on the horizon, Fannie Mae said in an economic outlook Friday. Doug Duncan, VP and chief economist with Fannie, offered up the outlook from the GSE's Economics and Mortgage Analysis Group. Fannie Mae said that total home sales could hit 4.7 million in 2012, reflecting a 3.5-percent boost from total sales, new and existing, last year. The forecast said that home sales could reach as many as 5 million come 2013.

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Record-Low Mortgage Rates Ring In New Year

Uncertainty in the markets helped ring in the New Year with record lows for mortgage rates, as concerns over debt crises and job growth lingered for wary investors. Finance Web site Bankrate.com and mortgage company Freddie Mac released their findings for mortgage rates Thursday in two separate weekly surveys. Bankrate.com reported interest rates for the 30-year loan hitting a record 4.18 percent this week, down from 4.21 percent last week. Freddie likewise found rates for the 30-year fixed-rate mortgage sliding from 3.95 percent last week to 3.91 percent this week.

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CEO’s Corner: A New Year for Our Industry

Ed Delgado, CEO of our parent company, the Five Star Institute, reflects on 2011 as we enter a New Year. He takes into account events from around the economy over the last year to forecast a period of hoped-for renewal in 2012.

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Ahead of 2012, Home Sales Rise 4% in November

Home sales followed a rocky road in 2011, as concerns over credit ratings, mounting public debt, and the potential for a double-dip recession forced homebuyers to the sidelines. MReport takes a look back at this year├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós home sales ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô and looks forward to figures in 2012. This week the National Association of Realtors reported home sales leaping forward 4 percent to crest at a seasonally adjusted annual rate of 4.42 million in November, up from 4.25 million in October and 12.2 percent above 3.94 million-unit figures recorded in November last year.

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October Home Sales Spike by 8.9% From Last Year

New single-family home sales climbed to a seasonally adjusted annual 307,000 over October, 8.9 percent more than those figures estimated over the same time last year. The Commerce Department yielded the data Monday from new residential sales, which it collected and released via the Census Bureau and HUD. Sales for single-family homes meanwhile crawled above revised September rates of 303,000 by 1.3 percent. Data showed that median sales prices for new homes sold over October this year hovered at about $212,300.

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Lackluster Spending Tilts Against Homebuying: Freddie

Mortgage giant Freddie Mac tied weak homebuyer demand to a drop in consumer expenditures in an outlook it released Monday. The GSE captured a look at the financial mood of consumers by releasing the U.S. Economic and Housing Market Outlook, which makes forecasts according to key economic indicators that it uses. The outlook indexed overall economic health for the nation, finding a small uptick by domestic aggregate demand as it climbed to 3.6 percent ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô the second largest gain over the last five years.

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Housing Market Will Stay Flat in 2012: Fannie Mae

Even with a pickup in the general economy, overall growth will remain flat into the New Year, slowing any impact from the housing market and delaying significant changes, according to a think tank internal to Fannie Mae. The mortgage company described circumstances going forward as those vulnerable to weak jobs growth, external shocks from the euro zone, and pickups or drops in consumer spending and confidence. Troubled euro zone markets continued to weigh down on the forecast.

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Home Sales Expected to Lift in 2012: NAR

Today├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós record-low mortgage rates and southerly home sales will post gains into next year, according to the economist with one trade group. Lawrence Yun, chief economist with the National Association of Realtors, predicted at the 2011 Realtors Conference and Expo that home sales and existing-home sales would rise, along with mortgage rates. He said that GDP would climb from a 1.8-percent slump to 2.2 percent over next year, as job growth marches toward 2.2 million and the unemployment rate falls to 8.7 percent.

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