Texas' real estate market experienced a healthy first quarter, picking up right where 2012 left off, the Texas Association of Realtors revealed in its latest Quarterly Housing Report.
Read More »Are Housing Headwinds Actually a Blessing?
Gains in home prices over the last year haven't provided enough lift to offset the headwinds holding the recovery down, but that might not be such a bad thing.
Read More »Residential Construction Spending Ticks Up in March
The Census Bureau released Wednesday a report showing a decline in construction spending throughout March. According to Census data, construction spending in March was at a seasonally adjusted annual rate of $856.7 billion, a 1.7 percent drop from February's revised estimate of $871.8 billion. While total spending fell, spending for housing construction inched up. According to the report, residential construction spending was at annual rate of $301.6 billion.
Read More »Homeownership Rate Declines to Lowest Level Since 1995
The nation's homeownership rate fell to 65 percent in the first quarter of 2013, according to data from the Census Bureau.
Read More »Redfin: Sellers Showing More Faith in Market
According to responses collected by Redfin, 45 percent of sellers believe now is a good time to sell, up from just 22 percent in the first quarter and 15 percent in last year's fourth quarter. At the same time, 44 percent say now is a good time buy, down from 54 percent last quarter. Having survived the slower cold season, homeowners were also a little more optimistic about future home price increases. Seventy percent of those surveyed expect prices will rise "a little" in their area in the next year, while 15 percent anticipate prices will rise "a lot."
Read More »RE/MAX: Prices, Sales Climb in March, Inventory Sees New Low
According to RE/MAX's National Housing Report for March, closed transactions climbed 27.8 percent month-over-month, starting the selling season off strong. Year-over-year, sales were up 2.9 percent, making March the 21st straight month to see higher sales than the previous year. Months Supply of homes fell to 3.8 in March, down 29.5 percent year-over-year and the lowest level recorded since RE/MAX's National Housing Report began in August 2008.
Read More »FNC February Price Index Sees 28-Month High
U.S. property values went into spring continuing the growth trend that started a year ago, according to FNC's Residential Price Index (RPI) for February. The index, based on recorded sales of non-distressed properties (both new and existing homes) in the 100 largest metropolitan statistical areas (MSAs), recorded a 28-month high after rising for 12 consecutive months. Yearly, the index was up 6.1 percent--its fastest gain since July 2006. Month-over-month, the index was up 0.2 percent.
Read More »Redfin: Spring Season Kicks Off with Surge in Prices, Flat Inventory
The seasonal surge in home sales combined with another drop in listings to further drive up prices in March, Redfin observed in its latest Real-Time Price Tracker.
Read More »Redfin: Buyers Not Driven Off by Low Inventory
While inventory shortage has created myriad problems for buyers, they're apparently undeterred from their home searches, according to data from Redfin. The brokerage's Real-Time Demand Pulse for April (which examines March data) shows strong monthly gains in the number of Redfin customers touring homes and in the number of signed offers being made, indicating potential pickups in April and May sales. Redfin analyst Tim Ellis noted the struggle to find new listings "only seems to be strengthening the resolve of today's buyers."
Read More »Sales Fall, Prices Rise in Connecticut Against Backdrop of Low Inventory
Markets around the country suffered from inventory shortage in February, and Connecticut was no exception, according to data from the Warren Group.
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