by The KCM Crew on December 28, 2012
Updates from December, 2012
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by The KCM Crew on December 7, 2012 Print This Post
by The KCM Crew on November 16, 2012 Print This Post
October 29, 2012, 5:58 PM
By Nick Timiraos
There’s little debate that the housing market was in bad shape four years ago—prices, after all, had been falling for 2½ years at a rate not seen since the Great Depression.
But there’s considerable disagreement about whether the market is better off today, a debate fueled by this year’s presidential race. One imperfect but popular gauge of the housing market, the S&P/Case-Shiller index, shows how home prices in the 20 cities tracked by the index compare with their level of January 2009, after adjusting for seasonal factors.
Through July, home prices nationally were down by 3.7% compared with January 2009, according to the Case-Shiller 20-city index. While prices are up from one year ago, they are still narrowly below the near-term peak set in May 2010, when tax credits fueled a burst of sales. Print This Post
Sales of newly built, single-family homes rose 5.7 percent to a seasonally adjusted annual rate of 389,000 units in September, according to newly released figures from HUD and the U.S. Census Bureau. This is the fastest sales pace recorded since April of 2010.
“Combined with consistent, positive reports on housing starts, permits, prices and builder confidence in recent months, today’s data provides further confirmation that a gradual but steady housing recovery is underway across much of the nation,” says Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. “Consumers who have been on the sidelines during the past few years are deciding now is the time to go forward with a new-home purchase, assuming they can qualify for a good mortgage under today’s exceedingly stringent guidelines.” Print This Post
by The KCM Crew on October 23, 2012
The National Association of Realtors’ (NAR) September Existing Home Sales Reportrevealed that sales declined modestly, but inventory continued to tighten and the national median home price recorded its seventh back-to-back monthly increase from a year earlier.
Total existing-home sales fell 1.7% but are 11% above the pace in September 2011.
Other findings revealed in the report: (More …) Print This Post
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WASHINGTON (September 17, 2012) – New survey findings, combined with an analysis of historic credit scores and loan performance, show home sales could be notably higher by returning to reasonably safe and sound lending standards, which also would create new jobs, according to the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said there would be enormous benefits to the U.S. economy if mortgage lending conditions return to normal. “Sensible lending standards would permit 500,000 to 700,000 additional home sales in the coming year,” he said. “The economic activity created through these additional home sales would add 250,000 to 350,000 jobs in related trades and services almost immediately, and without a cost impact.” Print This Post
by Editor or Florida Realtors®, 19th September 2012
ORLANDO, Fla., Sept. 19, 2012 – Florida’s housing market had more closed sales, more pending sales, higher median prices and a reduced inventory of homes for sale in August, according to the latest housing data released by Florida Realtors®. (More …) Print This Post
WASHINGTON (August 27, 2012) – Positive underlying fundamentals continue to support all of the major commercial real estate sectors, but a slowdown in job creation and ongoing tight loan availability has tempered growth in some areas, according to the National Association of Realtors® quarterly commercial real estate forecast.
Lawrence Yun, NAR chief economist, said there are mixed results among the commercial sectors. “Job creation in the second quarter was about half of what we saw in the first quarter, which is moderating demand in the office sector,” he said. “Industrial and warehouse space is holding on better because imports and exports have advanced. While exports to Europe generally are down, trade has been robust with India, China and other Asian nations, along with Brazil, Mexico and our strongest trading partner – Canada.”
Although still positive, dampened demand is slightly moderating rent growth with the exception of the multifamily market. “Sharply higher demand for apartments is causing rents to rise at faster rates,” Yun said. “A return to normal household formation will mean even lower vacancy rates and higher rents in the future.” (More …)