Posted on September 21, 2012 by Neil Sweren
Existing home sales for August increased 7.8% to 4.82 million homes. This is up from 4.47 million homes in July. This represents the most homes sold since the homebuyer tax credit expired in 2010.
Existing Home Sales is a measure of the selling rate of pre-owned single-family homes, collected by the National Association of Realtors from 650 realtor associations. The data is timely and is used in conjunction with the new home sales release from the Census Bureau. Sales of existing (or pre-owned) houses account for roughly 84% of all houses sold. Sales of new houses account for the other 16%. Simply, the volume of sales indicates housing demand.
Existing Home Sales April – Aug 2012
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Filed under: Financial, Real Estate | Tagged: economy, Home Sales, real estate, real-estate | Leave a comment »
Posted on April 26, 2012 by Neil Sweren
Washington, DC – The Federal Housing Finance Agency (FHFA) today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 3.90 percent based on loans closed in March. Beginning in March, FHFA is calculating interest rates using un-weighted survey data. There was a decrease of 0.18 percent from the previous month. The complete Contract Rate series can be found at http://www.fhfa.gov/Default.aspx?Page=251.
The full press release is available here: http://www.fhfa.gov/webfiles/23913/Apr%20MIRS%20Apr%202012%20final.pdf
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Filed under: Mortgage | Tagged: economy, interest rates, Mortgage | Leave a comment »
Posted on April 9, 2012 by Neil Sweren
Americans’ Expectations Align to Encourage Home Buying
Respondents Expect Significant Rental Price Rise
WASHINGTON, DC – More consumers may be looking to purchase homes with a shift in several key housing market indicators, according to Fannie Mae’s March 2012 consumer attitudinal National Housing Survey. More Americans now expect both home rental and home purchase prices to increase over the next year. Nearly half of consumers expect higher rental prices, the highest number recorded since monthly tracking began in June 2010. Thirty-three percent expect home prices to increase, up 5 percentage points since last month, and the highest percentage recorded in over a year. In addition, confidence in consumers’ views of their own finances is stabilizing—for three straight months—44 percent believe their personal finances will get better over the next year. These trends may be providing Americans with an increased sense of urgency to buy a home as 73 percent of Americans now believe it is a good time to buy a home, up from seventy percent in February.
Read the release in its entirety here: http://www.fanniemae.com/portal/about-us/media/corporate-news/2012/5690.html
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Filed under: Financial, Mortgage, Real Estate | Tagged: economy, fannie mae, national housing survey, real-estate | Leave a comment »
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