Tag Archives: Short Sales

March 2014 Existing Home Sales Down 7.5 Percent From a Year Ago — Median Price Up 7.9 Percent: Weather, Lending Regulations and Affordability

March existing home sales were just released by the National Association of Realtors® (NAR), showing a 7.5 percent decline in sales from March 2013. Sequentially from February, sales were essentially flat, down just 0.2 percent. The Seasonally Adjusted Annualized Rate (SAAR) as of March 2014 was 4.59 million home sales. This was the lowest rate …Read more

September 2013 Existing Home Sales Up 10.7 Percent Year-Over-Year, Median Price Gains 11.7 Percent

The just-released September 2013 existing homes by the National Association of Realtors® (NAR) is truly dichotomizing the press, investors, analysts and economists between the Glass is Half Full and the Glass is Half Empty crowds. Year-over-year comparison from September 2013 shows an increase on a seasonally-adjusted annualized basis of 10.7 percent in the number of …Read more

October 2012 Existing Home Sales Up More Than 10 Percent Compared to October 2011 — 4.79 Million SAAR This Year Vs. 4.32 Million Last Year

Housing continues to make a comeback following the real estate depression of 2007 through 2011. Job growth (albeit tepid), rising rents and population growth are the trifecta to increased sales and prices. October 2012 saw a Seasonally-Adjusted Annualized Sales Rate (SAAR) of 4.79 million existing homes, a gain of more than 10 percent from October …Read more

Rapidly Shrinking Shadow Inventory Reported by the HousingWire — A Look at the Supply Side of the Equation (written September 25, 2012)

Earlier today I wrote about how economic demand for real estate in some small towns was increasing. I stated “Economics 101 teaches us that price changes in assets, goods and services are a function of supply and demand. The economic demand (versus demographic demand) for real estate is a function of job growth and income.” …Read more

Housing Markets Improving — As Are Lending Profits

Foreclosures dropped in July 2012 to 58,000 from 69,000 in July 2011 (and 62,000 in June 2012) according to CoreLogic. Half of all foreclosures were from five states: California, Florida, Michigan, Texas and Georgia. Homes tallied 1.3 million in some form of foreclosure (3.2 percent of all homes with a mortgage) compared to 1.5 million …Read more