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Interesting Statistics Category

housing on track for best year since 2006

The residential real estate market, now at its midpoint in 2015, is on track for its best year since the peak of the housing bubble in 2006, notes realtor.com chief economist Jonathan Smoke. But as Smoke is quick to point out, this time it's not a housing bubble. That's because job growth is fueling the most recent climb in demand for homes. More than 3 million jobs have been created in the past 12 months. As job growth increases, demand has followed.... Continue Reading >

whats trending now in real estate

Kathleen Finnegan   The spring selling season is in full swing. Here's a breakdown of what you need to know about the state of the housing market. Home prices are surging Price growth is only increasing, due to a lack of inventory in some markets. According to Lawrence Yun, NAR chief economist "Insufficient supply appears to be hampering prospective buyers in several areas of the country and is hiking prices to near unsuitable levels." Buyers in many areas need to be prepared for an increased... Continue Reading >

2015 market forecast : smoother sailing

Kathleen Finnegan After several bumpy years, the housing market should continue to smooth out in 2015, one of the nation’s leading housing economists says. In his predictions for 2015, Zillow chief economist Stan Humphries said he expects home values to rise 2.5% next year -- positive territory but well below the 6% clip seen over the last 12 months. That slower pace, coupled with home builders shifting to construct more houses at lower price points than they have been, should help pull more... Continue Reading >

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 >

Kathleen Finnegan

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