According to the National Association of Realtors® (NAR), first-time homebuyers accounted for only 27% of all home sales in December 2013—the lowest level since the NAR started tracking such statistics in 2008. Factors that may be contributing to diminishing numbers include high student loans, poor credit scores, low employment, and the rise in home prices […]
Month-over-month rises in home prices slowed down to fractional numbers as year-over-year increases entered its 20th consecutive month, according to CoreLogic. The Home Price Index (HPI), which is comprised of distressed sales and equity, was up 0.2% from September to October and was 12.5% higher than the year prior. The HPI hit its peak this […]
Pending home sales continued its downward trend in October, resulting in the fifth consecutive month of decline, according to the National Association of Realtors. A forward-looking indicator based on contract signings, the Pending Homes Sales Index, was at 102.1, dropping from 0.6% from September’s index at 102.7. It was the lowest level since December 2012. […]
The National Association of REALTORS recently reported a 1.9% decrease in sales of existing homes in the U.S. as home prices increased by 11.7%. For the first time in three months, purchases of previously owned homes fell in September. Existing home sale prices increased year after year to $199,200 last month from $178,300 in September […]
According to a recent report by the National Home Sales Snapshot, existing home sales declined for its fourth consecutive week. The report states that for the end of the 30-day rolling period, which ended on October 10, 250,006 properties were sold, which is a 1.3% decline from the previous week, and was also 7.3% lower […]
Newsday recently reported that the supply of Long Island homes for sale has reached its lowest level in at least two years. The median sales price rose by 8.7% in Suffolk County to $347,750 and, in Nassau County, the median sales price increased 2.3%, to $445,000. August marked six straight months of year-over-year home sale […]
Last week, RealtyTrac announced its findings that some 600,000 homeowners had emerged from being “deeply underwater” (that is, with loan-to-value ratios in excess of 125%) since May. During that same time, CoreLogic also that homeowners are rapidly recapturing the equity they lost suddenly late in the last decade. Currently, more than 2.5 million more residential […]
The National Association of REALTORS announced today that existing home sales during the month of July rose by 6.5% compared to June and also saw a 17.2% increase year over year. According to the NAR, existing home sales were up from a downwardly revised figure of 5.06 million in June to a seasonally adjusted annual […]
Economists at the Goldman Sachs Group reported than more than 50% of all homes sold last year and throughout this year were bought mortgage-free and that all-cash sales have more than doubled since 2006. Before the housing bubble burst, only 20% of homebuyers made cash-only transactions. Goldman Sachs analysts determined the percentage of cash-only home […]
The National Association of REALTORS recently reported that the seasonally adjusted index for pending home sales was 110.9 in June, down 0.4% from a downwardly revised figure of 111.3 during the month of May — a six-year high. Since last year, home prices and mortgage rates have increased, suggesting that sales are beginning to slow […]