Blog
Existing Home Sales Increase 2.3 Percent In July
Sales of previously owned homes increased 2.3 percent to a seasonally adjusted annual rate of 4.47 million in July, according to the National Association of Realtors. The improvement over June's rate of 4.37 million put existing-home sales 10.4 percent above last...
Purchase Activity Up Slightly, Refinance Demand Slows
According to the Mortgage Bankers Association's Weekly Applications Survey, refinance activity fell last week as average mortgage rates increased. The Market Composite Index, which measures both refinance and purchase activity, fell 7.4 percent from the week before,...
July Inventory Nearly 20 Percent Below Last Year
Since Realtor.com began keeping record of monthly for-sale inventory in 2007, the number of homes on the market has fallen nearly 40 percent. In fact, the total number of homes for sale across the country in July was 1.866 million units, a historic low and a 19.25...
Price Gains Lead To Affordability Dip In Second Quarter
Nearly 74 percent of all new and existing homes sold during the second quarter of this year were affordable to a family earning the national median income of $65,000, according to the National Association of Home Builders Housing Opportunity Index. But though that's...
Building Permits Climb To Four Year High In July
The latest estimates from the U.S. Census Bureau and the Department of Housing and Urban Development show permits to build privately-owned housing units reached a four-year high in July. Building permits rose 6.8 percent from June's rate of 760,000 to a seasonally...
Builder Confidence Hits Highest Level Since 2007
The National Association of Home Builders Housing Market Index is a measure of builders' perception of the market for newly built, single-family homes on a scale where any number above 50 indicates that more builders view sales conditions as good than poor. In August,...
Average Mortgage Rates Unchanged Last Week
The Mortgage Bankers Association's Weekly Applications Survey covers more than 75 percent of all retail residential mortgage applications. Last week, the survey found average contract interest rates for 30-year fixed-rate mortgages unchanged from the previous week at...
Housing A Bright Spot Despite Slower Economic Growth
According to Fannie Mae's Economic and Strategic Research Group, an uncertain job market and weakened consumer spending have slowed economic growth after a strong first quarter. But, despite the slowdown, the housing market continues to show improvement. Doug Duncan,...
Prices Rising In A Growing Number Of Metropolitan Areas
New data released by the National Association of Realtors shows home prices improving and poised for further gains this year. During the second quarter, median existing single-family home prices rose in 100 of 147 metropolitan statistical areas compared to the same...
Improving Markets Index Includes 80 Cities In August
The National Association of Home Builders Improving Markets Index lists metropolitan areas that have shown improvement from their respective bottoms in employment, housing permits, and prices. In August, the list includes 80 cities across 32 states and the District of...