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Interesting Statistics Category

September home sales rose to their highest level of the year!

Kathleen Finnegan The national housing market rebounded in September as home sales rose to their highest level of the year. After dipping in August, sales of previously owned homes climbed 2.4% in September to a seasonally adjusted annual rate of 5.17 million, the National Assn. of Realtors said Tuesday. Analysts polled by FactSet expected an annual rate of 5.1 million. Low mortgage rates, coupled with restrained price increases, boosted sales last month, the Realtors group said. “Traditional buyers are entering a less competitive market with... Continue Reading >

market update – at a glance

Home Prices Median home prices flattened in July, increasing only 0.4% to $222,900. This is up 4.9% from last year, continuing the summer's pattern of sustainable increases in home prices. Home Sales The pace of home sales rose 2.2% in July to a seasonally adjusted annual pace of 5.15 million homes. This is down 4.5% from the same month of the previous year; however, the portion of sales that were distressed is down to 9% from 15% last year. This means that conventional... Continue Reading >

home sales surge 6.1%

Pending home sales posted a sharp 6.1 percent rise in May, as lower mortgage rates and rising inventories helped propel the market into the summer season, according to the National Association of REALTORS®’ Pending Home Sales Index, a forward-looking indicator based on contract signings. It was the largest month-over-month gain on the index since April 2010, when first-time home buyers were rushing to sign purchase contracts before a popular tax credit program ended. All four regions across the country posted increases... Continue Reading >

real estate market pulse

Southern California’s housing market perked up a bit in April, with sales rising more than usual from March and dipping below a year earlier by the smallest degree in six months. Home prices edged higher again but at a slower pace, the result of more inventory, affordability constraints and less pressure from investors, a real estate information service reported. A total of 20,008 new and resale houses and condos sold in Los Angeles, Ventura and San Fernando counties last month. That was... Continue Reading >

higher inventories a welcome sign for spring buyers!

Kathleen Finnegan The spring home buying season is off to a stronger start than at this time last year, with modest price increases and a spike in inventory, according to realtor.com’s National Housing Trend Report for March. 467019497 The number of properties for sale  in March rose 9.5% above March 2013 levels, to 1,841,844 units, according to the report. The median list price was 5.3% higher than in March of last year, and the median age of inventory increased 22.9% above the year-ago... Continue Reading >

home prices likely to moderate soon

Home owners have been enjoying big home price rises across the country, but those increases – often by double-digit percentages – will likely level off soon, according to CoreLogic’s latest Home Price Index, which reflects February data. The index, which also includes distressed sales, was up 12.2 percent in February compared to year-ago levels. That marked the 24th consecutive month for annual home price increases, according to CoreLogic’s index. “As the spring home-buying season kicks off, house price appreciation continues to... Continue Reading >

market update – at a glance

According to a new survey from Fannie Mae, credit availability is improving. For the first time in more than three years, the majority of consumers believe it’s easier to get a mortgage. “The gradual upward trend during the last few months bodes well for the housing recovery and may be contributing to this month’s increase in consumers’ intention to buy rather than rent their next home,” said Doug Duncan, chief economist for Fannie Mae. Mike Fratatoni, chief economist for the Mortgage... Continue Reading >

down payments – is bigger better?

Most homebuyers have to finance most of the home's purchase price with a mortgage. The amount you put down upfront determines the size of the mortgage. A conventional mortgage usually requires a down payment of 20% of the purchase price of the house. Here are a few reasons to save for a bigger down payment. 1. Reduced mortgage payments The more you put down on your home upfront, the smaller your mortgage payments will be. That could help your monthly budget. More... Continue Reading >

5 mortage tips for home buyers

Kathleen Finnegan Here are a few tips for home buyers on securing a mortgage, getting the best rate, and more. 1. Be prepared to document your finances. Buyers should be prepared for extra review by lenders when underwriting mortgages due to new mortgage regulations that took effect in January, particularly in proving borrowers’ ability to repay their loans. Borrowers should be prepared to show bank statements, tax returns, W-2s, investment accounts, and documentation of any other assets they own. Also, they should be prepared to... Continue Reading >

tight housing inventories still affecting the markets

Kathleen Finnegan Home buyers continue to face limited choices of homes for sale in many markets, according to realtor.com®’s National Housing Trend Report. As we open the new year, the first-quarter inventory figures are especially crucial as our first indication of seller confidence for the 2014 home buying season, the market is still showing significant demand, but in order to have a strong home buying season, sellers need to put their homes on the market. Some of the markets that saw the highest upticks... Continue Reading >

Kathleen Finnegan

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