Existing Home Sales Rise for Third Straight Month

Sales of existing U.S. homes rose for the third month in a row in June, accompanied by increases in both price and inventory, according to the National Association of Realtors, as low interest rates continued to boost affordability. Total existing-home sales grew 2.6 percent in June to a seasonally adjusted annual rate of 5.04 million, up from 4.91 million in May, but the new pace is down 2.3 percent from the previous year. Inventory climbed 2.2 percent in June to a total of 2.30 million existing Read more [...]

Trulia: No New Housing Bubble on the Horizon

U.S. home prices made a record come back over the past year, causing many analysts to worry that some markets were in danger of developing “bubble” conditions like those seen in 2006. Housing data firm Trulia says there is no cause for alarm right now. In fact, Trulia chief economist Jed Kolko asserts that most U.S. housing markets are still undervalued compared to historical levels. After meteoric growth since the beginning of 2013, home prices have finally leveled out again, as the S&P/Case-Shiller Read more [...]

Only 1 out of 8 Homeowners is Underwater

The percentage of U.S. homeowners underwater on their mortgages fell by 37 percent in the latest year, according to new data from property information firm CoreLogic, and that number could fall even more before 2014 is over. During the first quarter of this year there were roughly 6.3 million borrowers with negative equity – when the mortgage is higher than the property is worth – or 12.7 percent of all homes with a mortgage. That is down from 6.6 million borrowers or 13.4 percent from the Read more [...]

Existing-Homes Sales Increase for First Time This Year

After a slow start this year, sales of existing U.S. homes finally made some forward progress in April, according to the National Association of Realtors, as inventory jumped and prices moderated. Total existing-home sales rose 1.3 percent to a seasonally adjusted annual rate of 4.65 million last month, up from 4.59 million in March. Compared with last year at the same time, sales are down 6.8 percent though. A major jump in available inventory helped home prices to grow at a more relaxed pace Read more [...]

Mortgage Rates Reach Two-Month High

With some encouragement from Federal Reserve Chairwoman Janet Yellen, long-term mortgage interest rates rose in the latest week, according to mortgage giant Freddie Mac, hitting a nine-week peak. The average rate on a 30-year fixed rate mortgage jumped to 4.40 percent, excluding fees, during the week ended March 27, up from 4.32 percent the week before. Rates have not been this high since the middle of January. Last year at the same time, the average rate was only 3.57 percent. "Mortgage rates Read more [...]

Existing Home Sales Dip for Sixth Time in Seven Months

Sales of existing U.S. homes fell slightly again in February, while the median home price edged up, according to the National Association of Realtors. Total existing home sales slipped 0.4 percent last month to a seasonally adjusted annual pace of 4.60 million homes compared with a 4.62 million pace in January. Sales are also down 7.1 percent from February 2013. “We had ongoing unusual weather disruptions across much of the country last month, with the continuing frictions of constrained Read more [...]

Existing Home Sales and Prices Took a Tumble in January

A host of factors combined in January to make the perfect storm in the housing market, resulting in the lowest level of existing-home sales in a year-and-a-half, according to new data from the National Association of Realtors. Sales of existing U.S. homes fell 5.1 percent on both a monthly and yearly basis to a seasonally adjusted annual rate of 4.62 million. Sales levels have not been that low since July 2012 when they fell to 4.59 million. January home prices did a nose-dive as well from Read more [...]

2014 May Be a Less Competitive Year for Homebuyers

Real estate investors, who have dominated segments of the housing market since the Great Recession began, may start to pull out this year, leaving the playing field a little more open for traditional home buyers, according to a new survey from housing data firm Zillow.com. In the Zillow Home Price Expectations Survey, 110 economists and real estate experts predicted that investors are likely to make fewer purchases in 2014 as a result of rising prices. "Buyers entering the market in the next Read more [...]

Home Sales Slipped in September

Sales and prices of existing U.S. homes fell in September from August, according to the National Association of Realtors, but both continued to rise on a yearly basis. Existing-home sales slumped 1.9 percent last month to seasonally adjusted annual rate of 5.29 million, down from 5.39 million in August, but rose 10.7 percent from September 2012’s pace. Sales have now increased on a year-over-year basis for 27 consecutive months. Meanwhile, the median price for an existing-home dropped to Read more [...]

Even As Rates Rise, Home Sales Continue to Climb

Sales of existing U.S homes pushed upward in August, reaching a six-and-a-half year high, according to the National Association of Realtors, but the trend may slow in the fall if market conditions continue their track. The NAR reported that total existing-home sales rose by 1.7 percent to a seasonally adjusted annual rate of 5.48 million in August, up from 5.39 million in July. Compared with the year before, sales were up 13.2 percent. August marks 26 straight months of year-over-year sales increases. Prices Read more [...]