Tag Archives: Existing Home Sales

Another Top-10 List — Buyers From the North Midwest Fueling Florida, Colorado and Washington Luxury Housing Markets

There was much debate and rhetoric regarding the potential impact on higher-valued homes arising from passage of the Tax Cut and Jobs Creation Act of 2017.    The thought was that by cutting the allowable interest deduction from $1 million of total loans on the primary and secondary home(s) to $750,000, along with limiting a total …Read more

Forecasts: Residential Refinance & Purchase Lending, 30-Year Conventional Mortgage Rates, Home Sales — June 2018

Fortunately, Fannie Mae, Freddie Mac and the MBA update their quarterly and annual forecasts monthly for residential lending volumes –  both refinance and purchase transactions.  Driving these lending forecasts is  the expectation of future interest rates.  Since 2018 is almost one-half over there is not too much deviation in interest rate expectations for the year, …Read more

Existing Home Sales Down 1.39 Percent Year-To-Date in May 2018, Median Price Jumps 4.9 Percent in Past 12-Months

Tight inventories of listings for sale and rising residential mortgage interest rates and home values continued to deflect existing home sales in May 2018 as reported by the National Association of Realtors® (NAR).   Actual sales in May 2018 of 536,000 compared to 555,000 a year ago were down 3.4 percent, but sales year-to-date dipped just …Read more

Another Top-10 List — Metros with Greatest Number of Listings with Prices at $100,000 or Less

Affordability is the new battle cry across the U.S. as home prices continue to escalate at a rate much greater than the corresponding growth in incomes.  This particular affordability issue is being driven by demand simply outstripping supply. From a construction perspective, the U.S. continues to under-build housing.  In the 12-months ending April 2018, a …Read more

Year-To-Date Existing Home Sales Down 0.65 Percent, Seasonally Adjusted Homes Sales Off 1.4 percent Year-Over-Year in April 2018

Tight inventories of listings for sale and rising residential mortgage interest rates slightly deflected existing home sales in April 2018 as reported by the National Association of Realtors®.   Actual sales in April 2018 of 460,000 compared to 447,000 a year ago were up 2.9 percent, but sales year-to-date dipped 0.65 percent.  From a seasonally adjusted …Read more

Another Top-10 List — Richest Cities in America 2018

While the typical American household earns a median income of $57,617 annually, there are some cities where more than one-half earn more than $70,000 per year.  As usual, I invoke the TINSTAANREM axiom — There Is No Such Thing As A National Real Estate Market or a National Economy.  The same is true about incomes. …Read more

March 2018 Existing Home Sales Down 1.2 Percent Vs a Year Ago — Median Price Up 5.8 Percent to $250,400 Driven By Minimal Inventory and Strong Demand

Existing home sales came in at  5.60 million dwelling units on a seasonally adjusted annualized rate (SAAR) in March 2018, down 1.2 percent versus a year ago but up 1.1 percent sequentially compared to February 2018, according to the National Association of Realtors® (NAR).   On a raw unadjusted basis, sales totaled 434,000 in March 2018 …Read more

New Home Sales in February 2018 Flat Versus a Year Ago

New homes sales of 618,000 on seasonally adjusted annualized rate (SAAR) were essentially unchanged from both a year ago and the prior month.    There were 305,000 new homes available for sale at the end of February 2018 equating to an estimated 5.9 months inventory.  In comparison, existing homes had a miniscule 3.4 month inventory …Read more