Existing-home sales rise 2% in October, NAR reports



Existing-home sales ascended in October for the second straight month and eclipsed June’s cyclical sales peak to become the highest annualized pace in nearly a decade, according to the National Association of Realtors.

Sales of existing-homes slump in July, lack of inventory to blame



Slowed by frustratingly low inventory levels in many parts of the country, existing-home sales lost momentum in July and decreased year-over-year for the first time since November 2015, according to the National Association of Realtors (NAR).

What’s the Real Cause of the Housing Market Slump?



Rising mortgage rates are the main culprit for the weakening in home resales this year, and they could further dampen existing home sales, according to a new paper published by John Krainer, an economist at the Federal Reserve Bank of San Francisco.

Foreclosure Crisis Slowly Coming To An End



The foreclosure crisis is ebbing away – but only in some parts of the country. Whilst most of the rest of the nation is slowly getting back on its feet, there are still five states that account for almost fifty percent of all completed foreclosures in the country.

Four Factors Driving The Housing Recovery Today



Last week, The Wall Street Journal published a detailed report on the current state of housing in the US, noting that existing home sales rose by just 0.6% in April, compared to the month before. This statistic seems unremarkable, yet it understates just how solid things are looking at the moment.

Looking Forward to the Spring Sales



Traditionally in real estate, the spring season is the time of year that things begin to hot up, with big increases in the number of homes being bought and sold. Experts are hopeful that this year’s spring could well be one of the best we have seen in quite a while.

Existing Home Sales End Year on a High



Existing home sales pulled off a late surge at the end of last year, growing by 5% in November to leave total home sales up by 1.7% from 2010’s levels, the third consecutive month in which the pace of sales had shown improvement.

Foreclosure Process Takes Twice as Long



The average length of a foreclosure process has more than doubled since the housing crisis gripped the nation in 2007. Back then, the average length of time for a home to be foreclosed was just 253 days. Now, the average length of a foreclosure process is almost two years – 674 days, to be absolutely precise.

Looking ahead to 2012



What’s in store for housing markets in 2012? Well, the good news is that we may finally be over the worst. Following five long, often painful years of price declines, which saw median home prices drop by almost 40%, housing is finally showing signs of a rebound – although we still have some way to go.

NAR Admits Publishing Bad Existing Sales Data



Real estate professionals and economists who paid close attention to the monthly existing-home sales data provided by the National Association of Realtors were given a sharp shock earlier this week. Last Tuesday it was revealed in the Chicago Tribune that the association had been consistently reporting bad figures each and every month since January 2007, […]

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