Tag Archives: Home Sales

Redfin reported a 2.2 percent increase in the number of homes sold in October compared to the same month last year, making it the first month to see a significant yearly increase in home sales so far in 2014. Redfin's data reinforces recent findings from the National Association of Realtors, which estimated October home sales at an adjusted annual rate of 5.26 million, an increase of 2.5 percent from last year.

In Freddie Mac's latest Economic and Housing Market Outlook for the United States, the company's economists turn their attention away from 2014—a mixed year for housing, especially compared to 2013—and toward 2015, which they say will see continued strengthening in the market for home purchase mortgages as the economy improves on a broad basis.

The National Association of Home Builders' (NAHB) Housing Market Index, a closely watched gauge of builder sentiment, rose four points in the latest reading to a level of 58, the group reported. The increase followed a five-point drop in October and put the index close to its September reading of 59, a nearly nine-year high.

RE/MAX's latest National Housing Report, which follows changes in home sales, prices, and inventory in 53 metro areas across the United States, shows October transactions came in 2.6 percent higher than a year ago. The annual increase came despite a 0.8 percent drop from September's sales total.

According to data released Thursday by CoreLogic DataQuick, sales statewide—including all sales of single-family houses and condos—totaled 36,830 last month, up 1.4 percent from 36,316 in September. A year ago, sales in the Golden State came to 36,468, down 1.0 percent from the most recent data.

According to CoreLogic, cash sales made up 33.8 percent of total home sales in August, down from 36.4 percent the year prior. Cash sales peaked at a share of 46.3 percent in 2011 and have fallen continually on a yearly basis every month since the start of 2013.

Single-family home sales saw a modest uptick in Connecticut in September as prices trended downward for another month, according to a report from the New England-based Warren Group. Trends were also mixed for condominium properties.

Florida's housing market continued on a steady growth track throughout the third quarter, though improvements were slightly subdued compared to spring and early summer. Florida Realtors' chief economist, Dr. John Tuccillo, said the quarterly numbers reinforce trends the group has seen on a month-to-month basis.

While home sales prices posted moderate gains in September, the housing market recovery as a whole is moving slowly, according to the Wells Fargo Economics Group Housing Wrap Up for October 2014.

Where the U.S. housing market is concerned, Fannie Mae chief economist Doug Duncan said he is anticipating weaker home sales in 2014 than in 2013—but 2015 looks better. Meanwhile, the slowdown in economic growth this year has not dimmed the outlook among Fannie Mae's economists.