The recent National Foreclosure Report from CoreLogic announced that the foreclosure inventory — that is, the number of homes in foreclosure — fell by 2.9%, dropping from 1.4 million homes in some stage of foreclosure during the month of April to 1.0 million homes in May. This inventory represented 2.6% of all mortgaged homes in […]
Citing a shrinking number of homes available on the market, the National Association of REALTORs announced recently that existing home sales fell last month. The lack of availability has also resulted in higher home sales prices. The NAR reported that existing home sales declined 0.6% from a downwardly revised 4.95 million units in February to […]
Due to increased buyer demand, fewer homes are staying longer on the market. Multiple Listing Services showed that homes last month sold faster than in any other February since 2007. In February 2013, homes were available for sale for a median of 98 days, down from 123 days in February 2012. Most of these fast-moving […]
The recent reports that came out from both the Commerce Department and the National Association of REALTORs paint a dark picture for prospective homebuyers who have either waited to buy a home until they had the money to do so or waited too long because they believed that home prices would drop even further. Commerce […]
CoreLogic recently reported that there were 767,446 completed foreclosures on active mortgages in 2012, which comes out to one in every 53 active mortgages. Despite the high numbers, CoreLogic pointed out it is an improvement over 2011, when there were 830,000 foreclosures. In December 2012, there were 56,000 completed foreclosures — lower than the previous […]
The National Association of REALTORS announced today that, despite a drop in the pending home sales last month, the number of home sales under contract have improved year over year. The Pending Home Sales Index (PHSI) was 101.7 in December 2012, which is 4.3% lower than what it was in November 2012, according to the […]
Multiple Listing Services of Long Island recently reported that there were 2,368 closings in December 2012 — a 25.7% jump over November’s figure of 1,885 and 7.5% higher year over year when there were 2,202 closings in December 2011. There were also 1,928 pending sales in December, compared to 1,838 in November (a 4.9% increase), […]