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Tag Archives: Home Sales

Recovery Builds Momentum with Regional Price Gains: Clear Capital

National home prices saw both quarterly and yearly gains in June, and all four regions across the U.S. posted quarterly increases, according to the Home Data Index (HDI) released by Clear Capital Tuesday. Home prices rose by 1.7 percent in June from the previous quarter and a year ago, and growth is expected to continue into the second half of the year at a rate of 2.5 percent, Clear Capital reported. Out of all four regions, the West saw the greatest quarterly increase at 3.5 percent, followed by the Midwest (1.2 percent), the South (1.5 percent), and the Northeast (0.8 percent).

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Pending-Home Sales Make Strong Debut in May: NAR

The Pending Home Sales Index rose a strong 5.9 percent in May to 101.1, returning to its level of March, the National Association of Realtors said Wednesday. The index had slipped in April to 95.5 after reaching its highest level since April 2010. The index is up a solid 13.3 percent since May 2011. The report is another in a string of positive signs for the housing sector. Pending home sales are counted when sales contracts are signed, and are viewed as a leading indicator of existing home sales, according to NAR.

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Shortage of Distressed Properties Fueled Existing Sales Drop

The drop in existing home sales reported by the National Association of Realtors Thursday likely stemmed from a lack of distressed properties on the market, according to IHS Global Insight. In May, existing-home sales fell to a seasonally adjusted annual rate of 4.55 from 4.62 million in April, which is a monthly decline of 1.5 percent, the NAR reported. Existing home sales were still up from a year ago in May 2011 by 9.6 percent. According to the NAR report, investor purchases made up 17 percent of homes sales in May, down from 20 percent in April and 19 percent in May 2011. The report also revealed that distressed home sales, or foreclosures and short sales, declined monthly and yearly as well.

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New Home Sales Soar to Two-Year High in May

New home sales jumped to 369,000 in May - the highest level since April 2010 - as the median and average home prices both fell, the Census Bureau and HUD said jointly Monday. Economists had expected sales to reach 350,000 from the prior month's 343,000. Sales increased 7.6 percent month-over-month, marking the first increase in three months, and were up 19.8 percent since May 2011. The median price of a new single-family home fell for the third straight month, dropping to $234,500, the lowest level since February.

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Existing-Home Sales Fall Steeply, Routing Hopes

Existing home sales dropped to 4.55 million in May while the median price of an existing home rose to $182,600, the National Association of realtors reported Thursday. The decline in the seasonally adjusted annual rate of sales was the third in the last four months and steeper than expected. Despite the month-over-month decline, existing-home sales continue a steady, longer-term increase. Sales have averaged 4.574 million in the last five months, compared with 4.358 million in the previous five months and 4.274 million last year.

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How Over-Optimistic Homebuyers Could Inflate Next Bubble

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Renters and first-time homebuyers want more amenities in their first homes and generally feel a sense of optimism that outpaces the reality in a slowly recovering housing market ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô a disconnect that could set the stage for the next housing crisis. Those are the findings that real estate company Trulia unveiled in an American Dream survey it released Wednesday. Of 86 markets in the 100 largest metro areas, 61 percent, or nearly two-thirds, of Americans believe that home prices will rise over the next year, according to the company.

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Housing Market Recovery ‘In Full Swing’: RE/MAX

The national housing market recovery is ├â┬ó├óÔÇÜ┬¼├àÔÇ£in full swing,├â┬ó├óÔÇÜ┬¼├é┬Ø according to the June edition of RE/MAX├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós National Housing Report. The report, released Monday, revealed that May saw increases in both home sales and house median home price for 42 of the 53 surveyed metropolitan markets. For the fourth consecutive month, the RE/MAX report found an overall increase in median home price across the country. In May, the national median home price was $166,500, a 6.1 percent increase year-over-year, RE/MAX said.

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Builder Confidence at Five-Year High in June: NAHB

Builder confidence rose one point in in June to 29, its highest level since May 2007, the National Association of Home Builders reported Monday. The index for May, originally reported as 29 was revised down to 28. Economists had expected the index to be flat to the original report for May. The total index in June was up 16 points from June 2011, the strongest year-over-year gain since December 1998. The index has improved year-over-year for 12 straight months as it did from July 2009 through June 2010 before going into a five month swoon.

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Foreign Buyers Rush to Prop Up U.S. Housing Market: NAR

The combination of low housing prices and the comparative weakness of the dollar continues to push foreign buyers to the United States, raising international home sales to $82.4 billion up from $66.4 billion last year, according to the National Association of Realtors 2012 Profile of International Home Buying Activity. NAR conducted the survey and asked realtors to report their international business activities within the United States for the 12 months ending March 2012. Twenty-seven percent reported having worked with international clients this year.

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Homeowners Driving More Mortgage Purchases in New England

Record-breaking low mortgage rates and rising home sales are leading to increase mortgage activity in New England, according to The Warren Group's Mortgage MarketShare Module. According to the data, Massachusetts, Connecticut, and Rhode Island have all seen strong mortgage activity so far in 2012, with Massachusetts showing the strongest numbers. Activity in the state is up more than 28 percent, rising to 99,097 in the first four months of the year ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô an increase from 76,930 during the same period in 2011. Purchase mortgages increased almost 13 percent year-over-year to 13,376.

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