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Home Sales Post Another Gain

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Sales of previously owned homes edged up in November, the third increase in four months after a dismal summer for home-buying. According to the National Association of Realtors (NAR), buyers bought homes at a seasonally adjusted annual rate of 4.68 million. Even with the rise, this year is shaping up to be the worst for […]

First-Time Buyers Returning to the Market

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With interest rates slowly rising, a new report says that many first-time homebuyers aren’t taking any chances, and are looking to buy a home as soon as possible. According to the Housing Pulse survey from Inside Mortgage Finance and Campbell Surveys, the percentage of first-time buyers grew from 34.4 percent in October to 37.2 percent […]

Housing Inventory Drops in November

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A new report from ZipRealty shows the supply of homes for sale in November declined by an average of 3.78 percent in 26 major metropolitan areas that the company researched. The report measures inventory from month to month and also compiles quarterly results of the information and covers single family homes, condos, and townhomes. Declines […]

Housing Affordability Remains Very High

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Low home prices and mortgage rates combined to bring housing affordability to its second-highest level ever, according to a new report from the National Association of Home Builders. For the third quarter of the year, the association’s Housing Opportunity Index rose to 72.1, indicating the percentage of homes sold that were affordable for those earning […]

From Default To Foreclosure – 16 Months is Average

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If you are in default on your mortgage do not feel like you need to leave your home immediately according to a study by LPS Applied Analytics. The average home that has missed their 3rd monthly mortgage payment takes 492 days to go from the initial foreclose filing to the bank taking possession of the […]

Real Estate News: Home Prices Decline

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U.S. home prices dropped in September from a month earlier and the rate of decline showed signs of accelerating, according to the S&P Case-Shiller home-price indexes. Third-quarter prices were also down. Separately, U.S. consumers brightened their moods in November–a good omen for holiday shopping, according to a report released recently. The indexes, based on the […]

Foreclosure Rate is Falling

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As the nation’s largest banks put a freeze on foreclosures this fall, fewer homeowners are losing their homes. The monthly foreclosure market report showed foreclosure filings declined 4 percent in October, compared to September. The volume of filings stayed about the same when compared to the same time last year. More than 332,000 homes nationwide […]

Housing Starts Hit 18-Month Low

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New home construction fell to an 18-month low in October, according to a recent government report. Housing starts, or the number of new homes being built, fell 11.7% to a seasonally adjusted annual rate of 519,000 in October, down from a revised 588,000 in September. The annual rate is the lowest since the 477,000 starts […]