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Tag Archives: Home Sales

Fannie Revises Forecasts on Rough First Quarter

The latest economic forecast from Fannie Mae shows that the underwhelming performance of the economy in the first three months of the year and a shrinking GDP have significantly dulled the optimism economists once had for the overall 2014 economy. Fannie stated that the rough U.S. first quarter has caused its Economic & Strategic Research Group to reduce 2014 economic growth expectations.

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Listings, Prices Continue to Rise in Florida

Florida's housing market had more new listings, an increase in median prices, and an uptick in inventory in May, according to Florida Realtors. "Right now, the market offers a great opportunity for sellers, who are seeing nearly 93 percent of their asking price at the closing table. And mortgage rates, though rising, remain historically low—giving consumers more buying power," said 2014 Florida Realtors president Sherri Meadows.

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Case-Shiller Price Indices Hit Brakes in April

In its latest S&P/Case-Shiller Home Price Indices report, S&P Dow Jones Indices recorded an annual price increase of 10.8 percent among both the 10- and 20-city composites. Those figures compare to year-over-year increases of 12.6 percent and 12.4 percent, respectively. A consensus of economists surveyed by Econoday called for a gain of 11.4 percent in the 20-city index.

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Home Sales Finding Positive Trend Again

The latest National Housing Report from RE/MAX found that for the third month in a row, home sales in May rose higher than sales in the previous month. "We've now seen three straight months of increased sales over the previous month—although we may not match the growth rates we saw last year, we are seeing significant increases in both sales and prices and that's a positive sign," said Margaret Kelly, RE/MAX CEO.

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Freddie Curbs Expectations in Mid-Year Assessment

Despite a disappointing first quarter and a mediocre second quarter, Freddie Mac still expects the economy to improve throughout the second half of 2014. The company is, however, tempering its New Year's optimism. In its June U.S. Economic and Housing Market Outlook, released Thursday, Freddie offers a mid-year assessment that sees more humble growth across most sectors.

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Weak Year Continues for California

California home sales and prices were both on the rise in May, but the year as a whole still looks pretty grim for the Golden State. Compared to April, May home sales statewide increased 3.5 percent, according to real estate site PropertyRadar.com. Year-to-date, however, PropertyRadar reports sales are the lowest they've been since the start of the recession.

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Equity, Home Sales Show Promise in May Scorecard

The government released Friday its latest Housing Scorecard, once again showing cautious optimism as trends look more favorable. "May's Housing Scorecard shows that the housing market recovery is picking up after the harsh winter months," said HUD assistant secretary Katherine O'Regan. "More homeowners have positive equity, foreclosures continue their downward trend, and sales of new and existing homes are rebounding.

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May Home Sales Fail to Match Rise in Inventory

A report published by Redfin's Research Center indicated that home inventory was up 9.1 percent in May. That number represents the highest number of new listings to come onto the market in the last four years. At the same time, the actual number of homes sold dropped 10 percent. The drop in actual sales surprised analysts, who had been predicting a flood of new home purchases once inventory was in greater supply.

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California Home Sales Sink in May

In May, sales throughout the state totaled an estimated 37,734 units, down 0.7 percent from April and 14.4 percent from May 2013, according to DataQuick. The figure includes both new and existing homes as well as condos. Compared to the long-term May average, last month's sales were down 18.3 percent. "California sales haven't been above average for any particular month in more than eight years," the company said in its latest report.

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All-Cash Sales Slowly Waning; Florida Continues to Lead

For March, CoreLogic reports cash sales accounted for 38.7 percent of total home sales, down from 40.2 percent the prior month and 41 percent a year before. Due to the seasonal nature of the housing market, CoreLogic senior economist Molly Boesel said the year-over-year comparison provides a better picture of the decline in cash sales.

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