Tag Archives: Home Sales

There’s good news and bad news for January’s existing-home sales, according to the National Association of Realtors. On the one hand, sales in January, for the fourth straight month, were ahead of the pace of sales a year ago. On the other hand, existing-home sales in all major regions declined last month to their lowest rate in nine months, with the West and Northeast getting the worst of it.

Analyzing transactions from 53 major metros nationwide, RE/MAX's latest National Housing Report showed home sales plunged 32.1 percent from December to January, more than wiping out the prior month's 14.4 percent gain.

According to CoreLogic, cash sales made up 36.1 percent of total home sales in November, down from 38.8 percent a year prior. The drop marks the 23rd straight month of year-over-year declines, CoreLogic said. Compared to October, the cash sales share was up about half a percentage point, "as is typical for the fall and winter months."

Using data from multiple listing services in markets throughout the state, the Texas Association of Realtors reported Monday that single-family home sales statewide totaled 66,664 last quarter, an 8.46 percent increase from the same period in 2013.

Early January indicators suggest the housing market got off to a strong start in 2015, with inventory growth and increased demand driving growth in what's usually a chilly month for the sector.

RE/MAX reported Monday that home sales activity jumped 14.4 percent nationally month-over-month December, a sharp reversal from November's 22.5 percent drop. Compared to the same month in 2013, December sales were up 3.9 percent, making it one of only a handful of months in 2014 to see transactions improve on a yearly basis.

California's housing market made more small strides toward stability over the last 12 months, though sales activity took a dip compared to the year before. For the entire year, C.A.R. estimates that 383,320 single-family homes closed escrow across the state, a 7.6 percent decline from 2013.

In a post on the company's blog site, CoreLogic estimated that cash transactions accounted for 35.5 percent of total home sales in October 2014, down from 38.7 percent the year prior. The decline continued a downward trend started in January 2013, making October the 22nd straight month to see cash sales decline on an annual basis.

In the latest Beige Book report released on Wednesday, the Fed said that contacts in most of its 12 districts expect faster growth in the year ahead, though some in the Dallas district are worried about a slowdown as the oil market suffers.

Employment grew at a rate higher than the national average (3 percent, as opposed to 2 percent) for the 25 to 29 age group, which is good news for housing, because this age group is the key first-time homebuyer segment. Steadily falling oil prices, which are down 45 percent since June, provide more economic growth tailwind going into next year. The drop in oil prices reduces energy-related expenses not just for driving, but for residential real estate also, according to Khater.