Archive for the 'Real Estate Information' Category

November Home Sales Fall to 19-Month Low

As borrowers battled declining inventory and rising prices, November sales of existing U.S. homes fell to their lowest level in almost two years, according to the National Association of Realtors. Total existing home sales dropped 10.5 percent to a seasonally adjusted annual rate of 4.76 million in November, down from 5.32 million the month before. Sales have not seen a pace that slow since April 2014. This is the first time in 14 months that sales have actually decreased on a year-over-year basis, Read more [...]

Low Inventory, Market Volatility Hold Back Existing-Home Sales

Sales of existing U.S. homes declined in October, stymied by a lack of affordable inventory as well as consumer concern about the economy, according to the National Association of Realtors. On the bright side, mortgage rates remained low and distressed sales made up the lowest share over seven years. Total existing-home sales fell 3.4 percent to a seasonally adjusted rate of 5.36 million in October, down 5.55 million in September. Compared with one year ago, sales are up however, with a 3.9 percent Read more [...]

Mortgage Rates Stay Low As Global Markets Falter

Long-term mortgage interest rates made little movement in the latest week, according to data from mortgage giant Freddie Mac, even though foreign markets continued to scare investors, a condition that typically pushes rate down. The average rate on a 30-year fixed-rate mortgage slipped to 3.85 percent, excluding fees, during the week ended October 1, 2015, down from 3.86 percent the previous week. Compared with the year earlier, rates were down from 4.19 percent. Fifteen-year fixed-rate mortgages Read more [...]

Existing-Home Sales, Prices Decline in August

The U.S. existing-housing market cooled off considerably in August, according to the National Association of Realtors, with the probable cause being a lack of inventory and the beginning of the traditionally slower buying season. Total existing-home sales fell 4.8 percent in August, to a seasonally adjusted annual rate of 5.31 million, down from 5.58 million in July. Compared to a year ago however, sales are still up 6.2 percent and have increased on a yearly basis for the past 11 straight months. "Sales Read more [...]

Decline in All-Cash Home Purchases Reflects Stabilizing Mortgage Market

The U.S. housing market has seen a major decline in the percentage of buyers paying for homes with cash over the past several years, according to the National Association of Realtors, a sign that investors are being replaced by traditional homebuyers. The net effect should be a stabilizing of the market with more gradual price increases over the long term. The NAR found that 23 percent of all existing-home sales in July were all-cash sales. And while that figure is up slightly from June’s 22 Read more [...]

July Existing Home Sales Rise, But First-time Buyers Drop Out

Even as total U.S. existing-home sales rose for third straight month, fewer first-time home buyers were able to jump into the market, according to the latest report from the National Association of Realtors. Existing-home sales increased 2.0 percent in July to a seasonally adjusted annual rate of 5.59 million, up from a downwardly revised 5.48 million in June. Compared with last year, sales are up 10.3 percent and are now at an eight-and-a-half year high. Sales have risen on a year-over-year Read more [...]

Foreclosure Starts Fall to 10-Year Low

The number of new mortgage foreclosures fell to a decade-long low during the first half of 2015, according to a new report from foreclosure data firm RealtyTrac. In its Midyear 2015 U.S. Foreclosure Market Report, RealtyTrac reported that there were 304,439 properties that entered the foreclosure process during the first six months of this year, a 4 percent decrease from the previous year and the lowest number on record in the survey’s almost 10-year history. Compared with the first half of Read more [...]

Existing Home Sales Soften in Response to Tight Inventory

Sales of existing U.S. home sales fell 3.3 percent in April, according to the National Association of Realtors, a product of tight inventory pushing home prices up, pricing many buyers out of the market. "April's setback is the result of lagging supply relative to demand and the upward pressure it's putting on prices," said NAR chief economist Lawrence Yun. "However, the overall data and feedback we're hearing from Realtors® continues to point to elevated levels of buying interest compared to Read more [...]

Low Rates, Jobs Market Push March Home Sales Higher

Sales of existing U.S. homes in March reached their highest annual pace since September 2013, buoyed by continued low mortgate interest rates and a firming employment scene, according to the National Association of Realtors. Total existing-home sales rose 6.1 percent to a seasonally adjusted annual rate of 5.19 million in March, up from 4.89 million the month before. Compared with a year ago, sales are up 10.4 percent with year-over-year sales having increased now for the past six straight months. "After Read more [...]

Home Sales Rose Slightly in February as Rates Inched Up

Existing U.S. home sales made a small gain in February, according to the National Association of Realtors, but were held back by limited inventory even as mortgage interest rates rose slightly. Total sales of existing homes rose 1.2 percent to a seasonally adjusted annual rate of 4.88 million in February, up from 4.82 million in January. Compared with the previous year, sales are up 4.7 percent. At the same time, the median existing home price rose 7.5 percent from February 2014 to $202,600. Read more [...]