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Tag Archives: For-Sale Homes

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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Illinois Sees Strong April in Sales, Prices

The Illinois Association of Realtors (IAR) reported Wednesday that sales were up 25.3 percent year-over-year throughout the state. According to the association, statewide home sales (including single-family homes and condos) totaled 12,621 in April, the best performance for that month since 2007.

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Negative Equity Rate Down, but Concerns Loom

Underwater

The number of homeowners underwater on their mortgages continued to fall in Q1, but millions still lack enough equity to afford to move, Zillow revealed in its first-quarter Negative Equity Report. According to the report, the national negative equity rate was 25.4 percent in the last quarter compared to 27.5 percent at the end of 2012. However, when including homeowners with less than 20 percent home equity, the "effective" negative equity rate is 43.6 percent, or 22.3 million homeowners.

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New Home Price Hits Record High in April as Sales Inch Up

The price of a new single-family home soared to a record high in April as sales jumped 2.3 percent to a seasonally adjusted annual rate of 454,000, the Census Bureau and HUD reported Thursday. Economists surveyed by Bloomberg expected April sales to increase to 425,000 from March's originally reported 417,000. March sales were revised to 444,000. The median price of a new home, according to the Census/HUD report, soared $20,900 (8.3 percent) in April to $271,600, the highest price on record.

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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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Redfin: Prices, Sales, Inventory All Climb in April

Redfin's monthly report--based on home prices, sales, and inventory across 19 U.S. markets--shows prices rose 4.9 percent in April on a monthly basis and 16.1 percent on a yearly basis. Out of the 19 metros measured in Redfin's report, 18 reported month-over-month increases in April. "The housing market across the nation was hot again in April. Yes, home prices are up. But the big story in this month's report is that inventory posted its largest month-over-month increase in over three years," wrote Redfin blogger Tim Ellis.

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RE/MAX: April Inventory Shows Evidence of Rebound

According to RE/MAX's data, taken from a survey of multiple listings service (MLS) data from 52 U.S. metro areas, the months' supply of homes for sale at the April's sales pace was 3.6 months--the lowest supply since the National Housing Report began in August 2008. However, the company observed a monthly increase in April in the overall number of homes for sale--the first since June 2010. In addition, the year-over-year percentage drop in inventory was 26.6 percent, the lowest annual drop in the last 12 months.

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NAR: National Median Price Posts Greatest Increase Since 2005

The latest quarterly report from the National Association of Realtors (NAR) shows home purchasing power remained high in the first quarter even as median prices continued their upward trend. Nationally, the median existing single-family home price was $176,600, up 11.3 percent year-over-year--the strongest yearly price increase since the fourth quarter of 2005, when the national median price jumped 13.6 percent over the prior year.

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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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CoreLogic: Home Price Gains Accelerate to 7-Year High in March

Including distressed sales, home prices rose 10.5 percent year-over-year in March, marking the biggest annual gain in seven years, according to CoreLogic's Home Price Index (HPI). "For the first time since March 2006, both the overall index and the index that excludes distressed sales are above 10 percent year over year," said Dr. Mark Fleming, chief economist for CoreLogic. "The pace of appreciation has been accelerating throughout 2012 and so far in 2013 leading into the home buying season."

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