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Tag Archives: Home Sales

Survey: Optimism over Prices Has Sellers Holding Off

According to Redfin's latest Real-Time Seller Survey, 81 percent of sellers believe home prices will rise in their area over the next year, up from 75 percent in the fourth quarter of 2012. While the increase in seller confidence should translate to increased inventory, the results have yet to be seen. According to the survey, 49 percent of respondents indicated they were planning to sell, up from 45 percent in last quarter's survey. However, the percentage of respondents who indicated they were selling "right now" fell by nearly half.

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December Sees Sharp Drop in New Home Sales

New home sales fell 7.3 percent in December to 369,000, the sharpest monthly drop in almost two years, the Census Bureau and Department of Housing and Urban Development reported Friday. The monthly drop in sales was the largest since February 2011. Nonetheless, December 2012 sales were up 8.8 percent over December 2011. Sales for September, October, and November were revised higher, with the November sales pace reported as 398,000, up from the originally reported 377,000.

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DataQuick: SoCal Home Sales, Prices Heat Up in December

The housing market in California's Southland region closed out 2012 with the highest number of December home sales in three years, real estate information company DataQuick reports. According to DataQuick, a total of 20,274 new and resale homes and condos were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino, and Orange counties in December. The month's total was 5.1 percent up from November and 5.3 percent up from December 2011.

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Beige Book Shows Expanding Economy at End of 2012

Fed

Economic activity "expanded" in the closing weeks of 2012, the Federal Reserve said in its periodic Beige Book released Wednesday, reflecting a slow but steadily declining unemployment rate and low rates of inflation--conditions the Fed said would have to be met before it raises interest rates. According to the report, "real estate activity has expanded or held steady in 11 Districts for existing home sales and leasing; eight Districts for residential construction; 11 Districts for nonresidential sales and leasing; and nine Districts for nonresidential construction."

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Builder Confidence Hits Wall in January

Builder confidence stalled in January as the Housing Market Index (HMI) stood at 47, remaining at its highest level since April 2006, the National Association of Home Builders (NAHB) reported Wednesday. Economists had expected the index to tick up to 48. With the January report, the index remained below 50--the tipping point between a positive and negative market assessment--for the 81st straight month. The last time the HMI was above 50 was April 2006, when the reading was 51 and falling.

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Redfin: Housing Catches Slight Winter Cold, Still Looks Strong

The housing market felt December's chill as home sales, listings, and prices all slipped, according to Redfin's Real-Time Price Tracker. While it's not unusual to see the market cool off in the holiday season, December's decline in listings was considerable compared to the years prior. According to Redfin, listings were down 11.5 percent from November, 33 percent from December 2011, and 44 percent from December 2010. The lack of selection had a hindering effect on sales.

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