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Tag Archives: Home Sales

Median Sales Prices Increase 3.2% in April: RE/MAX

The median sales price for homes sold in April went up 3.2 percent higher than the month before, ticking up to $161,000, according to RE/MAX. The real estate company released a national housing report that tracked a 5.9 percent increase in median sales prices year-over-year. April also marked the third straight month that home prices went up year-over-year after close to two years of declines. Of 53 metro areas surveyed by RE/MAX, 43 reported higher sales prices last month than the year before, an increase from 36 metro areas in March.

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Once Common Loan Products Not So Common in Southern California

The Southern California housing market continues to inch slowly toward recovery with a 5.1 percent increase in home sales year-over-year in April and the first year-over-year price increase reported in 16 months, according to DataQuick, a San Diego-based analytics firm. However, the market still relies heavily on investors as credit remains tight. Previously common mortgage loan products continue to make up a much smaller percentage of the market than they did over the last several years, according to DataQuick.

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Connecticut Home Sales Rising, Prices Still Falling

Home sales in Connecticut rose on an annual basis in March for the third month in a row, according to data released Wednesday by The Warren Group. The same report revealed that single-family home sales in Connecticut rose on a quarterly basis for the first time since the second quarter of 2010. Single-family home sales rose more than 5 percent in the first quarter of this year to 4,157 from 3,950 in the same quarter last year. Conversely, median prices declined 6.5 percent over the first quarter of the year in Connecticut, slipping from $230,000 in the first quarter of last year to $215,000.

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Builder Confidence Reaches Five-Year High in May

Builder confidence jumped five points in in May to 29, its highest level since the same month in 2007, the National Association of Home Builders said Tuesday. Economists had expected the index to edge up to 26 in May. The month-over-month increase was the largest since April 2009. The total index in May was up 13 points from May 2011, the strongest year-over-year gain since April 2004. All three components of the index ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô current sales, sales six months out and buyer traffic ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô showed strong increases in May.

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Home Prices Rise for First Time Since March 2010: LPS

Home prices rose by a seasonally adjusted 0.2 percent in February, the first increase since March last year, according to Lender Processing Services. The analytics and data provider said that several other indicators posted solid gains in February. Home prices averaged $195,000, the same as seen in June 2003. LPS also projected a 0.3 percent increase in national home prices on the whole come March. Of 26 metro areas surveyed by LPS and the Labor Department, only cities in California ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô Los Angeles, San Diego, and San Francisco ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô observed price declines.

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Capital Economics Sees Improvement Ahead for Housing

Noting some recent strengthening in demand in the housing market, Capital Economics suggests housing prices "are close to, or already through, their trough," and recovery will continue through the coming months. While acknowledging the decline in home sales in March, Capital Economics├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ó analysts remain optimistic due to the recent increases in pending home sales. The National Association of Realtors' latest Pending Home Sales Index in March reached 101.4, its highest level since April 2010. Recent data on mortgage applications also point toward a strengthening market.

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Affordability, Inventory Improve, Still Shy of Full Recovery

The U.S. housing market continues to trudge down the slow, bumpy road to recovery with a few positive indicators lighting the way. However, a full recovery continues to linger listlessly on the horizon. Obama's Housing Scorecard for April, released jointly by HUD and the Treasury Department, reveals some positive movement in home sales, though prices continue to languish in many markets. Another piece of good news for the market: Housing inventory is now at a sustainable level. The market currently holds a 5.3-month supply of new homes.

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Asking Prices for For-Sale Homes Up in April

Homes for sale saw their asking prices tick up 0.5 percent in April, more than in March, according to Trulia. Asking prices climbed quarter-over-quarter by 1.9 percent, while price increases unadjusted for seasonality went up 4.8 percent. Prices for for-sale homes also went up 0.2 percent nationally. Miami and Phoenix saw the biggest increases among asking prices, with figures up by more than 15 percent year-over-year. Forty-four of the 100 largest metro areas observed year-over-year price increases, while pickups took place in 92.

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Pending-Home Sales Leap Ahead in March: NAR

The Pending Home Sales Index rose sharply in March to 101.4 from February's revised 97.4, the National Association of Realtors said Thursday. Economists had expected the Index to increase 1.0 percent from February. The index is now at the highest level since April 2010 when it reached 111.3. The index improved for the third straight month and fifth time in the last six month. The March reading is up 12.8 percent from March 2011, the strongest year-over-year gain since last July. The PHSI has been drifting upward, albeit modestly for most of the past two years.

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New Home Sales See Steepest Decline in 13 Months

New homes sales fell 7.1 percent in March to a seasonally adjusted annual rate of 328,000, the steepest percentage decline since February 2011, according to the Commerce Department. Sales for January were revised upward from 313,000 to 353,000. Economists had expected the report to show a seasonally adjusted annualized rate of 318,000 new home sales in March. New-home sales in March were up 7.5 percent from March 2011. The median price of a new home fell 1.0 percent in March to $234,500, but was up 6.3 percent from March 2011.

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