Home sales dropped last month, but not because demand was lacking. There are fewer homes for sale than at any time in the last 11 years. According to the National Association of REALTORS®, Existing Home Sales for December 2012 fell to a seasonally-adjusted, annualized rate of 4.94 million homes from November's tally of 4.99 million existing homes. The Existing Home Sales report is based on the number of closings for previously-owned, single-family homes, townhomes, condominiums and co-ops. It's estimated that existing homes account for 85 to 90 percent of all home sales nationwide. 2012 … [Read more...]
Existing Home Sales Move Higher In October
After a small decline in September, Existing Home Sales rebounded in October, increasing a modest 2.1%. The housing market's slow, steady recovery continues as sales volume in all four regions expanded last month with the exception of the Hurricane Sandy-affected Northeast. The National Association of REALTORS® monthly Existing Home Sales Report comprises completed sales of single-family homes, townhomes, condominiums, and co-ops. The Existing Home Sales report is compiled on a seasonally-adjusted, annualized basis. It shows a 10.9 percent sales increase as compared last year. Sales … [Read more...]
Home Supplies Drop To Multi-Year Low
As the third quarter closed, home resales showed considerable momentum nationwide. The National Association of REALTORS® reports Existing Home Sales at 4.75 million units in September 2012 on a seasonally-adjusted, annualized basis, an 11 percent increase from one year ago. An "existing home" is a home that's been previously occupied; a resale. The reading marks the second-highest tally of the year -- second only to August 2012 when 4.83 million homes were sold on a seasonally-adjusted, annualized basis. The real estate trade association reports that there are now just 2.32 million … [Read more...]
Existing Home Sales Rise To 4.47 Million
Home resales climbed 2% last month as the housing market continues its measured, steady recovery. According to the National Association of REALTORS®, Existing Home Sales rose to 4.47 million units in July on a seasonally-adjusted, annualized basis. An "existing home" is a home that cannot be classified as new construction and, despite a reduction in the national homes inventory, the number of previously-occupied homes sold in July was higher by 10% as compared to one year ago. The Existing Home Sales also reported the folliowing : First-time buyers accounted for 34% of all … [Read more...]
Existing Home Supply Ticks Higher To 6.6 Months Nationwide
Home resales slipped more than 5 percent last month, putting a damper recent housing market enthusiasm. According to the National Association of REALTORS®, Existing Home Sales fell to 4.37 million units in June 2012 on a seasonally-adjusted, annualized basis. This is 250,000 fewer home sales per year as compared May's figures which NAR has revised 2 percentage points higher. The pace at which homes are selling has slowed, too. As compared to May, the Existing Home Supply rose 0.2 months. At the current pace of sales nationwide, the national home supply would now be exhausted in … [Read more...]