Tag Archives: Home Sales

Examining August activity in more than 30 markets nationwide, Redfin reported a 1.4 percent month-over-month dip in home sale prices to a median $281,000, reflecting a gain of just 5.1 percent over last year. More interesting, Redfin said, was the shift in supply and demand dynamics: Even as new listings plunged 9.3 percent—nearly triple the average July-to-August decline—numbers of customers touring homes and making offers rose, demonstrating buyers aren't backing off.

Florida Realtors released Monday its data on the state's housing market in August, reporting a 4.2 percent year-over-year rise in single-family home sales to a total of 21,594. "For several months now, stability and consistency are key trends we're seeing in Florida's housing market, as the state’s jobs outlook remains steady and the economy continues to grow," said Florida Realtors' president, Sherri Meadows.

Home sales in August remained below last year's pace for yet another month as prices inched higher, RE/MAX reported Tuesday. The real estate company calculated an 8.2 percent drop in August transactions compared to a year ago. Compared to July, August sales were down 6.6 percent. Out of the last six months, four have seen sales climb above the previous month's pace, RE/MAX reported.

Real estate information firm CoreLogic DataQuick estimated Friday that August home sales in the state—including new and resale houses and condos—totaled 37,228 last month, down 6.0 percent from July's estimate of 39,608. Compared to a year ago, sales fell 12.5 percent short. California sales have come in below average every month for more than eight years, the firm said.

Home sales in Connecticut barely nudged up in July, marking the fifth annual increase in what has so far been a mild year for the state. According to data released this week by the Warren Group, single-family home sales in the Constitution State totaled an estimated 3,152 in July, an increase of 0.7 percent over the same month last year.

The all-cash share of home sales dropped in June to its lowest level since the start of the financial crisis, CoreLogic reported Tuesday. In a post for the company's Insights Blog, senior economist Molly Boesel revealed that cash sales accounted for 33 percent of total transactions in June, down from 36.3 percent a year ago and the lowest share since September 2008.

While the state of Alabama has been slow to recover economically since the recession officially ended five years ago, the housing market's recovery in the state has struggled along with the rest of the nation so far this year, according to a commentary from Wells Fargo's Economics Group.

Based on trend data collected from 2011–2013, Trulia reported Tuesday that home searches on its website nationally come in 6 percent below the annual average for the months of September and October as summer transitions into fall. Trulia's analysis follows a report last week from Redfin in which Chief Economist Nela Richardson predicted the strongest fall season in years for home sales as the market comes closer to balance.

In its 2014 Second Quarter Market Share Analysis, the American Land Title Association (ALTA) reported that the industry generated $2.7 billion in premiums in Q2 2014, down from $3.3 billion the industry generated in Q2 2013. "A lackluster spring homebuying season that was weaker than anticipated coupled with a substantial decline in refinance activity resulted in the drop in title insurance premium volume," said ALTA CEO Michelle Korsmo.

The balance of power in the housing market is continuing its tilt back to buyers—and that could spell a surge in home sales in the coming months. In the brokerage's latest Real-Time Housing Market Tracker, Redfin Chief Economist Nela Richardson notes two ongoing trends indicating a shift to a more balanced market as the nation heads into fall.