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 […]
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. […]
Reports from the third quarter of 2013 have shown that shortages of homes on the market may ease due to an improvement in home equity, according to Seattle-based Zillow Inc. In Q3 2013, homeowners with negative equity (owing more than the house is worth) dropped to 21% from 23.8% the previous quarter. Owners with at […]
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 […]
For the first time since 2009, residential real estate sales are at their highest levels, thanks to a limited and competitive market. According to the National Association of Realtors, existing home transactions rose 4.2 percent, which is 5.18 million as of last month and a 12.9 percent increase from a year ago. The median housing […]
CoreLogic reported that home prices jumped 12.1 percent since last April, which was the biggest gain since February 2006. Forty-eight states and 94 large U.S. cities saw such an increase. The small number of houses for sale versus the ample amount of buyers competing for these homes is causing prices to rise. According to leading […]
Current government data shows that there is a steady increase in job creation. This, in turn, provides reassuring signs that housing is on its way to recovery. Certain aspects in the workforce are allowing for a growth in home sales. Fewer unemployment claims, steady job growth, and fewer layoffs are all economic signs that are […]
(Huntington, NY) — Brian Leibowitz, CEO and Owner of Affordable Financial Services LTD, says the government’s proposal to do away with the mortgage interest deduction (MID) will negatively impact the mortgage lending industry as prospective homeowners will hold off on buying a home and fewer purchase applications are filed. U.S. Congressman Dave Camp of Michigan, […]