Tag Archive for homes for sale

New Home Sales Rise 16.4% In 2013

January 28, 2014 Housing Market Comments Off on New Home Sales Rise 16.4% In 2013

An estimated 428,000 new homes were sold in 2013, according to figures released by the U.S. Census Bureau and the Department of Housing and Urban Development. Last year, sales reached their highest level since 2008 and beat year-before figures by 16.4 percent. But despite the year-over-year improvements, December saw a 7 percent drop in sales from November’s revised rate of 445,000, marking the second consecutive month-over-month decline following a sales surge in October. Regionally, the Northeast and Midwest experienced double-digit decreases, indicating cold winter weather may have contributed to what is already a slow sales month, historically. The median sales price of new homes sold in December was $270,200; the average price was $311,400. Also, there were an estimated 171,000 new homes for sale at the end of December. That represents a 5-month supply at the current sales rate. More here.

Survey Details 2013’s Typical Home Buyer, Seller

November 6, 2013 Housing Market Comments Off on Survey Details 2013’s Typical Home Buyer, Seller

Among recent home buyers, 80 percent said they believe their home is a good investment, according to the 2013 National Association of Realtors Profile of Home Buyers and Sellers. The survey, which polled nearly 150,000 recent buyers and sellers, aimed to evaluate the demographics, preferences, motivations, and experiences of people who participated in a real-estate transaction between July 2012 and June 2013. According to the results, the number of first-time home buyers slipped from 39 percent in the 2012 study to 38 percent this year. The median age of first-time buyers was 31 and their median income was $67,400. Among repeat buyers, the typical buyer was 52 years old and earned $96,000. Nearly 90 percent of all buyers financed their home – with 95 percent of entry-level buyers using a fixed rate mortgage. 92 percent of respondents said they used the Internet to search for a home. The survey also found that the typical seller was 53 years old and moved a median distance of 18 miles. Homes for sale were typically on the market for 5 weeks, down from 11 weeks in last year’s survey. More here.

Existing Home Sales Up in August

September 20, 2013 Uncategorized Comments Off on Existing Home Sales Up in August

Sales of previously owned homes rose in August, according to the National Association of Realtors. Total existing-home sales increased 1.7 percent from the month before and were 13.2 percent above year-before levels. Regionally, sales were up in the Midwest and South, flat in the Northeast, and down in the West. But, despite reaching the highest sales pace since February 2007, Lawrence Yun, NAR’s chief economist, said the market may be experiencing a temporary peak. Yun cautioned that sales may be uneven in the months ahead due to tight inventory and less favorable affordability conditions. In short, fewer homes for sale puts upward pressure on prices. In fact, the median home price in August was up nearly 15 percent from 2012 and has posted double-digit increases for nine consecutive months. More here.