The Archives
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09.24.09Existing Home Sales Slip 2.7%Existing home sales, which had risen for the past four months, slipped 2.7 percent in August, according to the latest report of the National Association of Realtors. Still, the number of sales was 3.4 percent above last year. Credited for the slide in sales were higher mortgage rates, which on average were over a percent higher in August than July. Home sales had shown relative stabilization in the four months prior to August, mostly because of the $8,000 federal tax credit for first-time homebuyers. However with that credit set to expire on November 30th, home sales may end up declining again. In the South, ...
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05.12.09Quick hit on Atlanta home pricesQuick news via the AJC, reporting statistics from the NAR: Atlanta home prices have fallen by 25 percent over the last year. It's interesting because the NAR's figure is way beyond Case-Shiller, which reported a 15.3 percent year-to-year decline. We’d love to be your Atlanta real estate lawyers. Want to know more? Contact us and we’ll be happy to discuss how Harlan and Associates can be of service to you! ○ ^ ○, originally uploaded by Bernat_83.
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01.26.09Existing home sales show surprising monthly gainNationwide existing-home sales surprisingly jumped 5.6 percent in December, according to the National Association of Realtors. Still, the rate was 3.5 percent below December 2007. Fueling the unexpected jump in sales was a plunge in home prices, which have fallen 15.3 percent. Sales really picked up in the West and South regions, suggesting that buyers are picking up foreclosed properties and discounted prices. Lawrence Yun, the chief economist of the NAR, has recently stated that foreclosures and short sales make up between 35 and 40 percent of all sales. In the South, existing-home sales rose 7.4 percent from November, but remained 11.2 percent below ...
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01.07.09Pending home sales hit 7-year lowThe number of pending home sales tumbled 4 percent in November to the lowest level since the National Association of Realtors started collecting data in 2001. That’s also a drop of 5.3 percent from last year. Lawrence Yun, the chief economist of the NAR said that the weakening was inevitable, given mounting job losses and weak consumer confidence. He’s also been predicting a year-end recovery for months. In the south, pending home sales dropped 2.2 percent from last month, and were 12.7 percent below last year. Harlan and Associates performs real estate closings throughout Georgia. Want to know more? Contact us and we’ll be happy to discuss how ...
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11.13.08Real Estate RoundupLost in the shuffle of a National Election and an imploding economy, a number of real estate and housing indicators were released over the past few weeks, all of which bear note: National Association of Realtors Existing Home Sales Index: Existing home sales rose in 5.5 percent in September, and were 1.14 percent higher than September 2007. In the South, sales rose 2.2 percent, but remained 7.8 percent below last year. Case/Shiller: The 10-city index showed a loss of 1.1 percent in August and a yearly drop of 17.7 percent. The 20-city index fell 1.0 percent in August, and 16.6 percent for ...
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10.08.08Pending home sales jump in AugustThe National Association of Realtors reported today that pending home sales increased 7.4 percent from July to August, and were 8.8 percent higher than last year. It’s the highest level of pending home sales since June 2007. The news was unexpectedly positive, as most economists had predicted that the index would fall in August. In the South, pending home sales only increased 2.3 percent in August but were still 2.1 percent below August of 2007. We’d love to be your real estate closing attorneys in Atlanta Georgia. Want to know more? Contact us and we’ll be happy to discuss how Harlan and Associates can be of service ...
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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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08.25.08Existing home sales up 3.1 percentNationwide sales of existing homes rose 3.1 percent off a ten year low last month, according to the latest National Association of Realtor report. It’s the highest level of existing home sales in five months. Still, resales were well below July 2007 – which are down 13.2 percent nationwide. The rise in sales was more than forecast and comes on the heels of an encouraging Pending Home Sales repost issued earlier this month. Driving the rise in the numbers of existing home sales is a significant drop in home prices. According to the NAR, the median price of an existing home has slipped 7.1 ...
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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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07.24.08Existing-home sales down in 2.6 percent in JuneSales of existing homes slowed more than expected, according to the latest monthly report by the National Association of Realtors. In June, the pace of home sales nationwide dropped 2.6 percent from May to a seasonally-adjusted annual pace of 4.86 million. Economists had predicted that sales would drop to 4.95 million. The rate was 15.5 percent below the number of homes sold last year. In the south, existing homes sales fell 3.1 percent from May for a year-over-year decline of 18.1 percent. More troubling for homeowners and real estate investors looking to sell their properties, the number of homes on the market swelled ...