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Tag Archives: National Association of Realtors

Twenty-Four Groups Call on CFPB to Make QM Rule Safer

Twenty-four trade groups and associations signed off on a comment letter Friday that calls on the Consumer Financial Protection Bureau to give creditors more legal leeway when it comes to Qualified Mortgages. The two-page letter ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô headed up by the American Bankers Association, Mortgage Bankers Association, National Association of Home Builders, and National Association of Realtors, among others ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô framed forthcoming rules around credit availability and sound home loans. Influential trade groups continue to criticize the rule.

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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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Illinois Reports Strong March Home Sales Statistics

The Illinois Association of Realtors has released March data that shows the strongest performance for home sales in the state since 2007. In addition to the rise in homes sold during the month, the IAR also reported that median pricing in the state received a lift, breaking 20 months of price declines. In addition to the rise in homes sold during the month, the IAR also reported that median pricing in the state received a lift, breaking 20 months of price declines. Sales of single-family homes and condominiums rose 21.1 percent year-over-year in March.

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Existing-Home Sales Fall in March for Second Straight Month

Existing-home sales fell to a seasonally adjusted annual rate of 4.48 million in March from a downwardly revised February rate of 4.60 million, the National Association of Realtors reported Wednesday. Economists had forecast the March sales pace would be 4.62 million. At the same time, the median price of a new home rose to $163,800, its highest level since last November's $164,000 and up 2.5 percent since March 2011, the first price increase since December 2010.

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Pending-Home Sales Index Slips in February

The Pending-Home Sales Index edged down February to 96.5 from January's 97.0 which had been the highest level since April 2010, the National Association of Realtors reported Monday. The index slipped for just the second time in the last five months but was 9.2 percent ahead of the level in February 2011. It remains far below the April 2005 down 26. The index began in January 2005. Pending-home sales are counted when sales contracts are signed, and are viewed as a leading indicator of existing home sales; re-sales should be stronger over the next few months.

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Last Year’s Housing Doldrums Dampen Obama Scorecard

A troubled year for housing surfaced in a February housing scorecard from the Obama administration Friday, underscoring a still-unsteady pace for home prices, mortgage origination volume, and housing supply. Jointly released by HUD and the Treasury Department, the scorecard reflects an industry still in transition from crisis to recovery. The scorecard cited a National Association of Realtors Home Affordability Index, showing that it moved from 179.1 February last year to 194.9 this year, not far from the level seen in January.

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Discounts Drive Cash Buyers to Market: Survey

More homebuyers are scooping up properties with cash only, even in an environment for record-low mortgage rates, according to a recent survey. Campbell Surveys and Inside Mortgage Finance jointly released the HousingPulse Tracking Survey, collecting responses from about 2,500 real estate agents around the industry. The survey said that cash buyers will account for roughly half of all homebuyers in 2012 if current trends continue. The survey also attributed the rise in all-cash transactions to hefty discounts and late appraisals.

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Pending-Home Sales Eclipse 2011 Figures by 8%: NAR

Pending-home sales shot up by 8 percent year-over-year in January, according to the National Association of Realtors. The trade group found that pending-home sales ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô contract signings for homes that have not yet closed ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô rose from 89.8 in January last year, which it indexes on a monthly basis. NAR said that the Pending Home Sales Index also climbed by 2 percent to 97 in January, reaching the highest figure since the homebuyer tax credit lifted it to 111.3 in April 2010. Regionally, the index gained by 7.6 percent to reach 78.2 for the Northeast, reflecting a 9.8-percent year-over-year increase.

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Mortgage Rates Lift on Greek Bailout, Housing

Interest rates for mortgage loans climbed close to 4 percent this week as a second Greek bailout sowed more confidence in the investor crowd and signs emerged that housing may see an upswing. Finance Web site Bankrate.com and mortgage company Freddie Mac each released separate surveys, with analysts attributing the rise to different causes. The GSE found the 30-year fixed-rate mortgage lifting to 3.95 percent, up from 3.87 percent. Bankrate.com saw rates for the loan hit 4.16 percent, up from 4.10 percent last week.

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Existing-Home Sales Up in January as Prices Fall: NAR

Existing-home sales rose in January for the third time in the last four months, according to the National Association of Realtors. January sales ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô completed transactions ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô were up 4.3 percent from December to a seasonally adjusted annual rate of 4.57 million. December├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós total was revised downward to 4.38 million from 4.61 million. The January 2012 sales pace was up 0.7 percent from January 2011. The median price of an existing-home was $154,700 in January, down 2.0 percent from January 2011, falling to lows from 2001.

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