Tag Archives: Home Sales

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.”

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."

Single-family home sales dropped in Massachusetts last month, with inventory and seasonal factors fingered as the culprit.

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.

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.

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).

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.

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.

According to an analysis by RE/MAX, bitter weather and a small inventory of homes for sale were the primary factors causing reduced sales activity in the Chicago area in February. The report commented, "Mortgage interest rates, which remain comfortably under 5 percent for 30-year fixed-rate loans, continue providing stimulus to the housing market."

Home sales declined for the fourth consecutive month with sharp drops in West Coast markets, according to the latest Real-Time Price Tracker from Redfin, a national real estate brokerage. With the spring selling season about to get underway, the company says March and April should offer insight into buyers’ willingness and ability to adapt to higher costs—as well as sellers’ ability to price appropriately, a skill some are having to relearn to stay competitive.