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Tag Archives: Home Sales

Connecticut Home Sales Pick Up Strength in June

Single-family home sales in the Constitution State totaled 2,799 in June, according to the Warren Group, marking a 5.8 percent increase from a year ago. It was the fourth time so far this year that home sales have performed better annually. Throughout the entire second quarter, sales totaled 6,679, down nearly 5 percent compared to the year-ago period.

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New Housing Outlook Ditches Bearish Concerns

In response to recent bearish housing outlooks, Altos Research recently released its own decidedly more positive forecast. "It's scary to be a contrarian, particularly if you're contrarian and bullish. In retrospect, this position is the most fun—if you're right," said Michael Simonsen, co-founder and CEO of Altos.

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Texas Housing Gains Momentum as Inventory Increases

The Texas Association of Realtors released Friday its 2014-Q2 Texas Quarterly Housing Report, revealing a 5.9 percent quarterly pickup in home inventory to a months' supply of 3.60—level with where supply figures were at the end of 2013. Despite the quarter-over-quarter increase—the first since 2011, the association reports—inventory remained down 12.2 percent compared to a year ago, holding back growth in home sales.

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Despite Housing Woes, Outlook Bright for Minnesota

Wells Fargo's Economics Group recently released its July 2014 economic outlook for Minnesota, reinforcing that while the state's economy is greatly improved, housing still lags behind, with traditional homebuyers in no great hurry to return to the market.

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California Housing Continues on Recovery Track

The California housing market continued on its 2014 trend line in June, picking up from a month prior but remaining subdued compared to last year's more active market. According to real estate data site DataQuick, an estimated 39,254 new and resale homes and condos sold statewide throughout California last month, reflecting a 4.0 percent increase from 37,734 in May.

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Analysts Still Hopeful on Housing in 2014

Redfin released its latest market summary, which sees the combination of sales, prices, foot traffic, and inventory as positive signs heading into the fall. "After an abysmal first quarter that drove a disappointing first half, housing will be playing catch-up for the year," said Nela Richardson, Redfin's chief economist. "Though it won't be a seamless transition, we believe the housing market is positioning itself for a stronger finish in the second half of the year."

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Summer Season Starts with Rising Home Sales, Inventory

In its monthly National Housing Report, RE/MAX observed another month-to-month climb in transaction levels, marking the fourth straight month of increases following a poor showing at the start of the year. All 52 surveyed metros reported monthly gains. While sales figures remain down nearly 2 percent compared to June 2013, the company says the year-over-year difference is the smallest one recorded year-to-date.

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Housing Mixed in Largely Positive Beige Book

The Federal Reserve reported continued growth in economic activity through the United States over the past month, reinforcing recent reports that the economy is moving in a more positive direction after a dismal first quarter. Reports on real estate activity were mixed across the country, though low inventory and rising home prices were common themes in most districts.

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Builder Confidence Hits Six-Month High

The National Association of Home Builders' (NAHB) Housing Market Index (HMI) registered a score of 53 in the group's July survey, increasing four points from June. "This is the first time that builder confidence has been above 50 since January and an important sign that it is strengthening as pent-up demand brings more buyers into the marketplace," said NAHB Chair Kevin Kelly.

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April Cash Sales Share Dips to 37%

According to CoreLogic senior economist Molly Boesel, cash sales accounted for 36.8 percent of total home sales in April, down from 38.5 percent in March and 40.1 percent in April 2014. The percentage of cash sales as a share of total transactions averaged approximately 25 percent prior to the housing crisis, Boesel said. It peaked in January 2011 at 46.2 percent.

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