Archives for July 2015

Pending Home Sales Slip But Remain High

Despite falling for the first time in five months, the National Association of Realtors' Pending Home Sales Index remains 8 percent higher than one year ago, according to June's results. The index registered a nearly 2 percent drop from the month before but still managed to … [Read more...]

Mortgage Rates Fall To Lowest Level In A Month

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell across all loan categories last week, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and … [Read more...]

Most Americans Don’t Follow Home Prices

A recently released survey found that most Americans have no idea what's happening with home prices in their area. In fact, 25 percent of participants thought home prices were flat last year, when they were actually up 4 percent nationally and, in 65 metro areas, saw … [Read more...]

New Home Sales Up 18% From Last Year

New estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development show sales of newly built single-family homes fell 6.8 percent in June compared to the month before. But, despite the drop, sales are still 18.1 percent above last year's … [Read more...]

Sales of Existing Homes At 8-Year High

In June, sales of previously owned homes reached their fastest pace since February 2007, according to the National Association of Realtors. Sales rose 3.2 percent above the month before and are now 9.6 percent higher than they were at the same time last year. Lawrence Yun, … [Read more...]

Size Of Average Home Loan Falls

According to the Mortgage Bankers Association, the size of the average home loan has fallen and is now at its lowest level since February. The drop is good news for the real estate market because it indicates that there are more first-time home buyers buying homes this year. … [Read more...]

When Will The Boomerang Buyers Return?

Boomerang buyers, as defined by a recent RealtyTrac report, include the millions of former homeowners who lost their homes during the financial crisis. RealtyTrac estimates that there could be as many as 7.3 million of these potential buyers out there and only about 1 … [Read more...]

Homes Get Bigger As Average Household Shrinks

Recent research shows the average American home is getting bigger at the same time the size of the typical household is shrinking. In short, that means Americans today have more square feet of living space, per person, than ever before. According to an analysis of the Census … [Read more...]

Construction Boom Bodes Well For Housing

New estimates from the U.S. Census Bureau and the Department of Housing and Urban Development show new residential construction rose 9.8 percent in June and is now 26.6 percent above last year's level. The improvement, though largely due to a spike in multi-family housing, … [Read more...]

Builder Confidence Hits Highest Level Since 2005

Because of their unique perspective on the market for newly built homes, builders are a good gauge of the strength or weakness of the housing market. That's why, for the past 30 years, the National Association of Home Builders has been conducting a monthly survey asking … [Read more...]