The Archives
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09.25.08New home sales drop 11.5 percent in AugustThe rate of new home sales sank 11.5 percent in August, according to the latest report by the U.S. Census Bureau and the Department of Housing and Urban Development. Sales were also 34.5 percent below last year’s pace, hitting a 17-year low for the index. The amount was also well below what economists had predicted. Additionally, the amount of homes for sale increased from a 10.3-month supply to a 10.9-month inventory. The south fared a little better than the rest of the country in August, with the number of new homes sold dropping only 2.1 percent from July. Still, that’s 24.4 percent below ...
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09.24.08Existing home sales slide 2.2% in AugustThe sales of existing homes fell again in August after a slight gain in July according to the latest report by the National Association of Realtors. Nationwide, last month’s home sales fell 2.2 percent from July and were 10.7 percent below August 2007. The national median existing home price also fell in the past year from $224,400 to $203,100 – a drop of 9.5 percent. In the south, existing home sales actually increased 0.5 percent, but were still 15.1 percent off of last year’s pace. The median home price was $176,500, which is 3.4 percent lower than August of 2007. The NAR has been ...
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08.07.08Surprise! Pending home sales are upThe number of signed contracts to buy a home unexpectedly rose last month to the highest level seen in eight months. According to the National Association of Realtors’ Pending Home Sales Index released today, the number of contracts signed in June was up 5.3 percent from a downwardly-revised figure in May. The jump in the Index came as a surprise. Economists had widely expected that home sales contract signings would decline by 1 percent. Still, the number of pending home sales was 12.7 percent below last year’s levels. In the south, pending sales jumped 9.3 percent from last month, but nevertheless were 16.6 percent ...
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07.08.08Pending home sales slip in MayThe number of homes under contract to be sold fell more than expected last month, according to the latest report by the National Association of Realtors. The NAR Pending Home Sales Index fell 4.7 percent in May, well beyond the 2.8% drop expected by most economists. The current index is 14 percent below last year’s levels. In the south, pending home sales decreased 7.1 percent, 22.1 percent below the number of sales in May 2007. In the report, the NAR also said that it expects existing home prices to fall, with the aggregate median existing-home price projected to fall 6y.2% this year to ...
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06.26.08Existing home sales rise nationwide, fall in SouthSales of existing single-family residential properties edged up higher across the country in May according to the latest report by the National Association of Realtors. It was only the second time in ten months that sales have increased. The pace of home sales rose 2 percent in May from April, though sales are still lagging 15.9 percent from last year’s levels. Overall, sales are down 31 percent from their peak in 2005. The median sales price for existing homes was $208,600.00, down 6.3 percent from a year ago. In the South, sales fell 0.5 percent from last month to a level 17.0 percent below ...
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06.13.08Looking for Divine InterventionFrom the Wall Street Journal: Tammy Winfield made every effort to depersonalize her home and keep it free of clutter. She even baked cookies before prospective buyers came in for a look, hoping that the homey scents would help persuade them to make an offer. Still, the Truckee, Calif., home that she and her husband, Bill, put on the market in September sat for months without any takers. "We were getting a lot of showings, but not many offers," she said. Then, in February, they took some home-selling advice -- and a leap of faith. At the suggestion of their Realtor, Brandi Benson, they brought ...