While they’re still significantly trailing last year’s figures, home sales data from the National Association of Realtors shows that the residential real estate market may be showing more signs of a steady recovery. According to the NAR, the volume of sales jumped a seasonally-adjusted 10 percent in September compared to the previous month. While that […]
Pending Home Sales Drop 1.8% in September
The number of people who signed contracts to buy homes fell in September after two months of gains. The National Association of Realtors said recently that its index of sales agreements for previously occupied homes dropped 1.8% in September to a reading of 80.9. Contract signings fell in every region of the country except the […]
9 Million Homes Could Be Affected by the Foreclosure Mess
According to a recent Bloomberg article, the ongoing mortgage fiasco, dubbed foreclosuregate by some, could possibly entangle 9 million foreclosed properties with questions about the legitimacy of their title, the legitimacy of their foreclosure, or both. In response to this debacle, JP Morgan Chase and GMAC/Ally have suspended foreclosures in 23 judicial foreclosure states. Bank […]
Housing Affordability The Highest in More Than 40 Years
With interest rates continuing to decline to new record lows and home prices being down in most places around the country, a new report from Beacon Economics finds that buying a home is more affordable than it has been in roughly two generations. Using median incomes and home prices, the company said that an average […]
Refinancing: 5 Things You Need to Know First
If you’re thinking about refinancing an existing mortgage, here are 5 things you need to consider first: A fixed mortgage rate guarantees your monthly payments will not change even if the housing market does. If the interest rate goes up at any given time, you’ll know you’ve been wise since your rate remains the same. […]
Home-Price Outlook Brightens
Housing economists have grown less bearish in their outlook for home prices this year but are becoming gloomier in their views for 2011, according to a new survey. On average, economists expect home prices to fall by 0.8% in 2010, which means they would have to drop by 2.2% during the second half of the […]
Housing Market: 5 Reasons Why Now is a Good Time to Invest
Here are 5 reasons why now is a good time to invest in the housing market. 1 – The downward trend may reverse. Actual foreclosures lag defaults and foreclosure notices, and both of these latter categories are going down. Default notices peaked in April 2009 at 142,062 and were at 96,469 last month, 30% below […]
Buying a Home is More Affordable Now
Families that have steered cleared of the housing market may want to reconsider their decision to rent instead of own. A new report from the federal government indicates that U.S. homes are the most affordable they have been in 10 years. The Obama administration’s Housing Scorecard found that a combination of record low interest rates […]
New Home Sales Jump in June
New Home Sales Jump in June Sales of new homes jumped in June, but it was the second-weakest month on record. New home sales rose nearly 24 percent in June from a month earlier to a seasonally adjusted annual sales pace of 330,000. May’s number was revised downward to a rate of 267,000, the slowest […]
Housing Predictions Were Not So Good
Housing Predictions Were Not So Good Every year, so-called “experts” make their predictions for the housing market. As 2009 came to a close, many experts predicted two things over and over again: 1. Home prices would fall in the first half of 2010 2. Mortgage rates would be higher in 2010 Here we are over […]