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Tag Archives: Home Sales

Trulia: Home Affordability Outpaces Rental Costs

Volatile markets and low home sales are colluding to force mortgage rates to historic lows and sellers to mark off home prices, making actual home purchases less expensive than renting in cities across the United States. Buying a home fell below renting costs in 74 percent of the country's 50 largest cities over July, with 12 percent of cities seeing higher price tags for apartments than for houses, according to real estate Web site Trulia. Bottom line: Peak numbers for home affordability make closing on rates a better deal.

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NAHB: Few Gains in Homebuilder Confidence

The market remains a dim one for new single-family homes, according to an index jointly released by Wells Fargo and the National Association of Home Builders. The index registered confidence at 15 on a 0-to-100 scale, staying largely the same since July. The low confidence follows a hit taken by homebuilding companies in the stock market last week. Analysts and economists weighed in with MReport about how slowing momentum in home construction and sales, as reflected by homebuilder confidence, impacts job creation and consumer confidence.

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Economists Fear Housing Double-Dip Underway

Citing dips in home sales, purchases, and low job growth, some economists say housing is already in a double-dip recession, with reprieve still off for another two years - this despite a last-minute debt deal.

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Mortgage Rates Inch Up Amid Debt-Default Fears

As House Republicans shifted their focus to a balanced budget amendment Friday in order to push through a debt-ceiling raise bill, two analytics companies posted upticks in mortgage rates - a sign that some say the markets feel increasingly unsure about whether the nation will be able to pay its debts come August 2. A Bankrate, Inc. survey reflected a 6-basis point surge to 4.74 percent, with mortgages totaling 0.35 discount and origination points, with Freddie Mac reporting a similar jump.

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NAR: Pending Home Sales Climb Upward

After taking a nosedive in April and recovering in May, pending home sales climbed upward at a steady pace over June, according to a sales index released Thursday by the National Association of Realtors. As regions showed signs of recovery, market watchers faulted leery lenders and bad appraisals for a less-than-timely rebound. Releasing the Pending Home Sales Index, NAR revealed encouraging gains in unclosed contracts, as signings went up by 2.4 percent to settle at 90.9 in June.

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Survey Shows Sellers’ Sentiments on the Rise

Is it really a buyers├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ó market? Not according to recent survey results from J.D. Power and Associates, which demonstrated that sellers are more content than buyers in the current real estate market. The study looked at three key areas of the home-buying process: real estate agents, real estate offices utilized, and auxiliary services. Buyers positivity dropped by around 1 percent between 2010 and 2011, and the decrease is attributed to a 14 point drop in real estate agent satisfaction numbers.

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Survey: Lenders Hopeful for Credit Expansion

Lending availability may be in the swings of an expansion, as loan structures and demand loosen, leading to more financing opportunities in the broader economy, according to a second-quarter survey released Wednesday by research firm Phoenix Management Services. The survey posted hopeful signs for an erstwhile tight credit supply, even as it anticipates continued volatility in home construction, real estate, and other markets. The survey used anecdotal and quantitative research.

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Report: New-Home Sales Limp Over June

Fewer homebuyers purchased new single-family homes over June, the Census Bureau and HUD reported Tuesday, with sales falling to an annual rate of 312,000 from 315,000 the previous month. Economists say these numbers nonetheless reflect progress from February, when single-family sales hit a record low, while others point to a slowly vanishing foreclosure fleet. The report held that June sales amounted to 1.0 percent, plus or minus 12.5 percent, beneath revised May estimates, still 1.6 percent above estimates from June last year.

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