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Tag Archives: Home Sales

Fed Districts Report Economic Growth as Weather Clears

Reports from the Federal Reserve’s 12 districts indicate economic activity has increased in most regions across the country since the end of February as the unusually harsh winter came to an end. According to the most recent update, eight districts—Boston, Philadelphia, Richmond, Atlanta, Minneapolis, Kansas City, Dallas, and San Francisco—characterized their economic expansion from March to April as “modest or moderate.”

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Builder Confidence Still Tepid

The National Association of Home Builders (NAHB) reported a one-point increase in its monthly Housing Market Index (HMI), a measure of builders’ confidence in the market for newly constructed single-family homes. March’s index was revised down to 46 from an originally reported 47. Registering 47 as of the latest release, the index has now spent three straight months below 50, the threshold between a market viewed largely as “good” and one viewed as “bad.”

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Pennsylvania Home Market Suffers from Snowy Winter

According to the Pennsylvania Association of Realtors (PAR), overall home sales in the state declined 6 percent in the first quarter compared to the same time in 2013. PAR’s data shows there were 24,250 closed sales in Q1. Kim Skumanick, PAR president, attributed at least some of last quarter’s buyer/seller reluctance to adverse weather conditions.”

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Connecticut Marks Tenth Month of Increasing Single-Family Sales

Despite a low inventory, single-family home sales are up 2.6 percent overall this year in Connecticut, with a 2.8 percent increase in February of this year from last year, according to the Warren Group. "We see many signs of a healthy real estate market in Connecticut," said Timothy M. Warren Jr., CEO. "We are in the third year of recovery from the crash in real estate and financial markets. People are interested in real estate once again."

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Unsustainable Home Price Growth Leads to Meager Home Sales in Some Counties

Home prices increased over the month and year in February in the majority of the 42 counties reviewed in DataQuick’s latest Property Intelligence Report. Home sales increased in the majority of the large counties over the month but not over the year, according to DataQuick. “While we saw a slight uptick from the extremely low sales levels reported in January, total sales remain far below historical levels,” said Gordon Crawford, VP of analytics at DataQuick.

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Housing Barometer: Recovery ‘Staggering’ Forward; Headwinds Persist

Recovery in the housing market is stumbling back to solid ground, thanks to a rise in home prices and existing home sales, as well as a drop in foreclosures, according to the latest Housing Barometer report released Wednesday by Trulia. However, growth in these sectors is dragging disproportionally weaker growth in young adult employment and stagnation in the new home construction sector in its wake.

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New Home Sales Retreat After January Surge

According to reports released Tuesday by the Census Bureau and HUD, new home sales in February ran at a seasonally adjusted annual rate of 440,000, down 3.3 percent from the revised January rate of 455,000 (originally recorded at 468,000). It was the weakest sales pace since September 2013. Compared to February 2013, last month’s sales rate was down by about 5,000 (1.1 percent).

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Sun Continues to Shine on Florida’s Housing Market

Home prices are rising; inventory is stabilizing; and the number of properties listed for sale is increasing, according to the latest data from Florida Realtors. “The majority of results for the residential market paint a picture of a normal growing market,” said John Tuccillo, chief economist for the group.

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Weather, Inventory Take Toll on February Home Sales

While usually slow, February home sales were especially soft this year, thanks to the combined factors of harsh weather, higher prices, and slim inventory. According to RE/MAX's latest National Housing Report, home sales dropped by 8.8 percent year-over-year last month, outdoing January's loss of 7.1 percent. Of the 52 metros surveyed for the report, 42 posted declines.

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