Home >> Tag Archives: For-Sale Homes (page 13)

Tag Archives: For-Sale Homes

Home Prices, Sales Experience Monthly Slump in September

The housing sector hit a speed bump in September as existing home sales dipped, the National Association of Realtors revealed Friday. The association reported existing home sales fell 1.7 percent to a seasonally adjusted annual rate of 4.75 million, the first decline in three months. The median price of an existing home dipped 0.5 percent or $1,000 from August to $183,900, but is up 11.3 percent ($18,600) from September 2011, the strongest year-over-year dollar increase since January 2006.

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August Pending Home Sales Show Surprising Decline

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.

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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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July New Home Sales Increase as Prices Fall

New home sales regained all the ground they lost in June, jumping by 13,000 to an annualized rate of 372,000 in July, the Census Bureau and HUD reported Thursday. Economists surveyed by Bloomberg expected the report to show a sales pace of 362,000. Sales for June were revised up to 359,000 from the originally reported 350,000. Both the median and average sales price of a new home though dropped month-over-month and year-over-year according to the report, each falling to the lowest level since January.

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Builder Confidence Soars To Five-plus Year High in August

Builder confidence improved two points in August to 37, its highest level since February 2007, the National Association of Home Builders (NAHB) reported Wednesday. Economists had expected the index to remain flat at 35. The improvement in the index in August marked the fourth straight month-month gain.

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As Asking Prices Rise, Foreign Buyer Activity Falls

Higher asking prices drove off foreign homebuyers and investors over the last year, with real estate firm citing a 10 percent decline in foreign interest for the U.S. housing market. Releasing its International House Hunter Report Thursday, Trulia found that asking prices rose 0.3 percent year-over-year, nixing helpful influence from still-falling home prices. The housing bust attracted a number of foreign and cash buyers interested in low prices and the safe haven of U.S. real estate investment, according to Trulia.

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Homeownership Rate Edges Up in Q2 After Hitting 15-year Low

The nation's homeownership rate rose to 65.5 percent in the second quarter, according to the Census Bureau. The rate for the first quarter, however, was revised downward from the originally reported 65.5 percent to 65.4 percent, the lowest since Q1 1997 when the rate was also 65.4 percent. The Census Bureau also reported the number of housing units for sale fell to 1,595,000 in the second quarter, a drop of 364,000 from a year earlier. Over the same period, the number of housing units held off the market increased 265,000 to 7,612,000.

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New Home Sales Soar to Two-Year High in May

New home sales jumped to 369,000 in May - the highest level since April 2010 - as the median and average home prices both fell, the Census Bureau and HUD said jointly Monday. Economists had expected sales to reach 350,000 from the prior month's 343,000. Sales increased 7.6 percent month-over-month, marking the first increase in three months, and were up 19.8 percent since May 2011. The median price of a new single-family home fell for the third straight month, dropping to $234,500, the lowest level since February.

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How Over-Optimistic Homebuyers Could Inflate Next Bubble

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Renters and first-time homebuyers want more amenities in their first homes and generally feel a sense of optimism that outpaces the reality in a slowly recovering housing market ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô a disconnect that could set the stage for the next housing crisis. Those are the findings that real estate company Trulia unveiled in an American Dream survey it released Wednesday. Of 86 markets in the 100 largest metro areas, 61 percent, or nearly two-thirds, of Americans believe that home prices will rise over the next year, according to the company.

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Group: Housing Outlook ‘Significantly Brighter’ Than Year Ago

According to Harvard University's Joint Center for Housing Studies, the key to the housing market recovery is job growth. "What the for-sale market needs most is a sustained increase in employment to bring household growth back to its long-term pace," the Joint Center said in its recent report, The State of the Nation's Housing 2012. Multifamily starts rose 54 percent and home improvement spending rose 0.6 percent over the year in 2011 and single family housing starts declined 8.6 percent over the year.

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