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Tag Archives: Home Sales

Connecticut Home Sales See First Annual Decline in 13 Months

Despite reaching their highest level so far this year, April home sales in Connecticut disappointed compared to year-ago levels. According to the Warren Group, single-family home sales in the Nutmeg State totaled 1,816 in April, down 7.9 percent from April 2013’s 1,973 but an improvement over 1,589 in March. It was the first time in more than a year in which home sales fell annually.

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Beige Book Records Continued Growth in All Districts

Fed

In its latest Beige Book, released Wednesday, the Federal Reserve noted economic activity has expanded in recent months, with the pace of growth "characterized as moderate in the Boston, New York, Richmond, Chicago, Minneapolis, Dallas, and San Francisco Districts, and modest in the remaining regions." Wednesday's summary reinforces comments offered by Fed Chair Janet Yellen recently.

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Bay State Home Sales Down in April

April sales of Massachusetts single-family homes dropped 2.3 percent compared with the same month last year, according to the latest from the Warren Group. Timothy M. Warren Jr., CEO of the Warren Group, said, "[I]t is a bit of a surprise that we are not seeing more forward momentum," but also noted while these sales might have "closed in April ... the buyers were shopping and negotiating back in February, the middle of a brutal winter."

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High-End Home Sales Booming as Lower Tiers Fizzle

While home sales have largely struggled so far this year, there's one market segment that's actually holding up well, according to Redfin: the very highest price tier. "For the top 1 percent, the housing market is still booming," said Redfin analyst Troy Martin in a blog post. "But for the rest of the market, the recovery is running out of gas."

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Florida Housing Market Is ‘Balanced,’ Improving

Home prices have risen in Florida for 29 consecutive months as of April, according to Florida Realtors. At the same time, new listings and inventory are on the rise. "We continue to see the development of a sustainable market here in Florida," said John Tuccillo, chief economist for Florida Realtors, adding, "The numbers all suggest a balanced market."

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All-Cash Sales Hover Near One-Third of Transactions

The mortgage meltdown and its somewhat predictable fallout—tighter regulations that ensure such a crisis cannot recur but choke lending and borrowing at the source—have led to an equally inevitable outcome: a glut in cash sales for homes. A recent report by Redfin shows that in 17 metro markets in the United States, a full third of sales this year have been all-cash deals. And that figure has been essentially flat since 2011.

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California Home Sales Spike 20% in April

In a new report, PropertyRadar found that single-family home sales in the Golden State were up 20 percent month-to-month, though year-to-date sales are still lagging compared to last year. In fact, according to PropertyRadar's director of economic research, Madeline Schnapp, "year-to-date sales volumes in 2014 are the lowest since 2008."

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The Supply and Demand of Housing

As housing metrics continue to take unexpected turns, it’s become clear by now that the current recovery has functioned unlike any other. In the company's latest Economic & Housing Market Outlook, economists Frank Nothaft and Leonard Kiefer at Freddie Mac took a look at three fundamental areas—mortgage rates, home sales, and household formations—to figure out why.

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April Signs Point to Cooler Summer than Last Year

Following a release from Redfin indicating mixed strength in April’s housing segment, RE/MAX has issued its own monthly report, echoing the theme of a cooling market compared to the last few years. "While sales and prices aren't growing at the rate they did last year, we still remain in a recovery with the market settling into a more sustainable growth pattern," said CEO Margaret Kelly.

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Housing Shows Life After Meek March

In its Real-Time Price Tracker report for April, national brokerage Redfin reported a 12.4 percent monthly pickup in home sales across its 30 surveyed markets, restoring some faith in sales after an unexpected dive in March. However, compared to April 2013, last month's sales fell 7.6 percent short, with nine markets posting double-digit annual declines.

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