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Tag Archives: Home Sales

Pending-Home Sales Index Recovers in July: NAR

In another positive sign for the housing sector, the Pending Home Sales Index rose 2.4 percent in July to 101.7, its highest level since April 2010, the National Association of Realtors reported Wednesday. Economists had expected a 1.0 percent increase to 100.3. The July increase more than reversed an unexpected 1.4 percent drop to 99.3 in June. The only negatives in recent reports were a slight drop in housing starts in July and drops in the median price for existing and new homes in July.

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July New Home Sales Increase as Prices Fall

New home sales regained all the ground they lost in June, jumping by 13,000 to an annualized rate of 372,000 in July, the Census Bureau and HUD reported Thursday. Economists surveyed by Bloomberg expected the report to show a sales pace of 362,000. Sales for June were revised up to 359,000 from the originally reported 350,000. Both the median and average sales price of a new home though dropped month-over-month and year-over-year according to the report, each falling to the lowest level since January.

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Existing-Home Sales Rise in July, Just Shy of Expectations

Existing homes sale rose to an annual rate 4.47 million in July, the National Association of Realtors reported Wednesday. Economists had expected the sale pace to be 4.51 million. Economists had expected the sale pace to be 4.51 million. The median price of an existing home though fell in July for the first time since January. The median price of an existing home fell $1,500, 0.8 percent, from June to $187,300. The median price was up year-over-year for the fifth straight month in July.

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Fannie Mae Sees Moderate Growth Despite Recent Gains

July├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós positive economic news did little to change Fannie Mae├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós forecast for 2012, the GSE revealed Tuesday. Fannie Mae├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Economic & Strategic Research Group issued its latest economic outlook, maintaining its expectations for modest growth in 2012. This news comes in spite of reports of strengthening retail sales and job growth in July. Fannie Mae├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Economic & Strategic Research Group issued its latest economic outlook, maintaining its expectations for modest growth in 2012.

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Sellers Hold Off to See If Home Prices Will Rise

After surveying more than 1,800 active home sellers, Redfin found that some of its customers are holding back from selling now because they believe patience will pay off in the form of higher offers for their home. The survey revealed that 38 percent of respondents plan to wait more than a year before selling their home, while 25 percent said they plan on selling now. About 36 percent of homeowners plan on waiting somewhere between 3 months and 12 months. More than a quarter (27 percent) of respondents said now is a bad time to sell as opposed to only 13 percent who said now is a good time to sell.

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RE/MAX: Is Housing Finally In Recovery Mode?

Looks like the dragon will have to step aside: 2012 is now "The Year of the Housing Recovery," according to RE/MAX. The real estate giant released its National Housing Report for August 2012 (covering July), showing that both sales and prices have posted year-over-year increases for most of 2012. Home sales appear to have peaked year-to-date in June, with July's sales falling 9.4 percent month-over-month. However, sales were up 10.3 percent from July 2011, marking the 13th consecutive month for year-over-year sales gains.

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Hard-Hit California Sees Boost With July Sales, Prices

Home sales and prices climbed in California in July, with median prices nearing a four-year high, according to the California Association of Realtors. The trade group found closed escrow sales approaching a seasonally adjusted annual rate of 529,230 in July for single-family homes, up 2 percent from June. Sales ticked up to 15.3 percent in July year-over-year. That month marked the fifth straight time that California's median home price went up month-over-month and year-over-year.

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Declining Affordability Is Good for the Market: NAHB

After reaching a record high of 77.5 percent in the first quarter of this year, housing affordability declined to 73.8 percent in the second quarter of this year, according to the Housing Opportunity Index. The HOI measures the percentage of homes sold in a particular quarter that are affordable to those earning at the median income level. In the second quarter, 73.8 percent of homes sold were affordable to those earning the national median income of $65,000. Fairbanks, Alaska, posted the highest affordability rate.

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Builder Confidence Soars To Five-plus Year High in August

Builder confidence improved two points in August to 37, its highest level since February 2007, the National Association of Home Builders (NAHB) reported Wednesday. Economists had expected the index to remain flat at 35. The improvement in the index in August marked the fourth straight month-month gain.

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Price Appreciation Looms as Pending-Home Sales Rise in Miami

Following the recent month├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós change in the national Pending Home Sales Index from the National Association of Realtors, pending home sales declined month-over-month in June in Miami-Dade County, but went up year-over-year. While the national index moved down 1.4 percent from May to June, Miami's pending home sales declined 13 percent, according to the association and Miami├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Multiple Listing Services system. Miami├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós change in pending sales year-over-year was also more exaggerated than the change reported in the national index.

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