Blog
Time On Market Falls As Inventory Tightens
The amount of time it takes to sell a home has fallen dramatically over the past year, according to new estimates. In July, the median amount of time a home was on the market was 69 days, which is 29.6 percent below last year when it was 98 days. The data, released by...
August Asking Prices Rise At Fastest Pace Since Recession
Trulia's Price Monitor measures asking price, rather than sales price, in order to provide the most current information on housing market trends and home values. In August, prices posted their seventh straight monthly increase and a 2.3 percent year-over-year gain....
Average Mortgage Rates Fall In Latest Survey
According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell last week from the week before. But, despite decreasing rates, mortgage application volume also decreased last week. The Market Composite Index, which measures...
Economic Outlook Calls For Housing Growth And Improvement
The latest 2012 Economic and Housing Outlook from National Association of Realtors' chief economist Lawrence Yun calls for modest economic growth and continued improvement for the housing market. Yun's forecast says, though real GDP growth was 1.5 percent in the...
Foreclosure Sales Fall, Prices Climb In Second Quarter
RealtyTrac's Q2 2012 U.S. Foreclosure Sales Report found foreclosure-related sales fell in the second quarter. Sales of homes in some stage of foreclosure accounted for 23 percent of all residential sales, up from 22 percent in the first quarter. But though they...
Pending Home Sales At Two Year High In July
The National Association of Realtors' Pending Home Sales Index is a forward-looking indicator that measures the number of signed contracts that occur each month. In July, the index rose 2.4 percent, reaching a two-year high and climbing 12.4 percent over year-before...
Home Purchase Demand Rises As Rates Fall
According to the Mortgage Bankers Association's Weekly Applications Survey, the seasonally adjusted Purchase Index increased more than 1.0 percent last week. But despite the improvement in demand for home purchase loans, the Market Composite Index, which measures both...
Index Finds Eighth Consecutive Month Of Improved Home Values
The majority of metropolitan areas covered by Zillow's Home Value Index saw increasing home prices in July. Of the 167 areas included, 62 percent experienced price increases from the month before, with Phoenix seeing the largest spike in values. Nationally, prices...
Shadow Inventory Levels Greatly Improved Since Peak
Freddie Mac's August 2012 U.S. Economic & Housing Market Outlook examines the so-called shadow inventory and whether there are a significant number of distressed properties soon to hit the market and erase recent price gains. The concern over the shadow inventory...
New Home Sales 25 Percent Higher Than Last Year
The U.S. Census Bureau and the Department of Housing and Urban Development released their new home sales estimates for July. According to the data, sales of newly built single-family homes rose 3.6 percent to a seasonally adjusted annual rate of 372,000. June's rate...