Tag Archives: Home Sales

The price of a new single-family home dropped 3.2 percent in May, but sales increased 2.1 percent to 476,000, the highest level in almost five years.

An increase in prices itself does not signal a bubble. An unsustainable increase, not supported by other data, however, would.

A plurality of prospective homebuyers responding to an industry survey anticipate down payments of less than 15 percent when they purchase a new home. Forty-four percent of respondents anticipate low down payments of no more than 15 percent, while 34 percent foresee paying between 15 and 24 percent of purchase price at closing. Nineteen percent say they will put down more than 25 percent of their home purchase price when the purchase their next home, according to the survey conducted on behalf of LendingTree.

Existing-home sales rose a solid 4.2 percent in May to an annual sales rate of 5.18 million, the highest level since November 2009, the National Association of Realtors (NAR) reported.

Both home sales and prices rose at double-digit rates above May 2012, and inventory is showing signs of stability, RE/MAX reported.

Prices shot up in May even as for-sale inventory showed signs of recovery, according to Redfin's Real-Time Price Tracker. According to the brokerage's findings, home prices came in 4.3 percent higher month-over-month and 17.4 percent higher year-over-year in May (to a median $208 per square foot). Eighteen of the 19 markets measured by Redfin saw monthly improvement in prices (Austin being the exception), and all 19 reported yearly increases. Once again, the West proved strongest.

Builder confidence surged eight points in June to 52, its highest reading since March 2006, the National Association of Home Builders (NAHB) reported Monday. It was the first positive (above 50) reading for the association├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Housing Market Index (HMI) since April 2006. Two of the three components of the index--builder assessment of current sales and of sales six months in the future--were also positive. The current sales index rose eight points to 56, and the future sales index jumped nine points to 61.

While fiscal headwinds have held back economic growth, Fannie Mae maintains in its newest outlook that the recovery should pick up the pace in the year's second half.

The pace at which home prices are rising should moderate later this year, according to an analysis from Capital Economics.

To better gauge the future of homeownership and the current shift toward renting, Fannie Mae's National Housing Survey took a look at renter attitudes and preferences in Q3 2012 to get an idea of their aspirations and expectations. According to the findings, the majority of respondents believe renting has its advantages in terms of current finances and stress. However, when asked about control, privacy, security, and financial prospects, the vast majority (64 percent and up across each question) said owning is the better choice.