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Tag Archives: For-Sale Homes

Homeownership Rate Remains Down in Q4

The number of households owning homes rose to 75,209,000 in the fourth quarter, up from 75,076,000 in the third but down from 75,315,000 a year ago, the Census Bureau reported Tuesday. At the same time, the nation's homeownership rate (seasonally adjusted) dipped to 65.4 percent in the fourth quarter from 65.5 percent in the third quarter. 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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December Sees Sharp Drop in New Home Sales

New home sales fell 7.3 percent in December to 369,000, the sharpest monthly drop in almost two years, the Census Bureau and Department of Housing and Urban Development reported Friday. The monthly drop in sales was the largest since February 2011. Nonetheless, December 2012 sales were up 8.8 percent over December 2011. Sales for September, October, and November were revised higher, with the November sales pace reported as 398,000, up from the originally reported 377,000.

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DataQuick: SoCal Home Sales, Prices Heat Up in December

The housing market in California's Southland region closed out 2012 with the highest number of December home sales in three years, real estate information company DataQuick reports. According to DataQuick, a total of 20,274 new and resale homes and condos were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino, and Orange counties in December. The month's total was 5.1 percent up from November and 5.3 percent up from December 2011.

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Beige Book Shows Expanding Economy at End of 2012

Fed

Economic activity "expanded" in the closing weeks of 2012, the Federal Reserve said in its periodic Beige Book released Wednesday, reflecting a slow but steadily declining unemployment rate and low rates of inflation--conditions the Fed said would have to be met before it raises interest rates. According to the report, "real estate activity has expanded or held steady in 11 Districts for existing home sales and leasing; eight Districts for residential construction; 11 Districts for nonresidential sales and leasing; and nine Districts for nonresidential construction."

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Fitch Warns of Unsustainable Price Growth

According to a report from Fitch, home prices have risen at their greatest pace since 2005, but in certain markets, technical factors--including low mortgage rates, tight supply of existing for-sale homes, and weak levels of new home construction--rather than "fundamentals" acted as the driving force behind the price gains over the past few quarters. In order to determine sustainability, Fitch conducted an analysis using its Sustainable Home Price (SHP) model.

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November Pending Home Sales Index Reaches 31-Month High

The Pending Home Sales Index (PHSI) increased for the third straight month in November, improving 1.7 percent to 106.4, the National Association of Realtors reported Friday. Economists had expected a slightly fast, 1.8 percent increase to 106.7. [IMAGE] The index, the NAR said, is at its highest level since April 2010.

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