Tag Archive | Housing Market

Is the Housing Market on a Path to Recovery?

After the sixth consecutive monthly rise in existing home sales last month, real estate industry experts are predicting that the market may be on a path to recovery.

Lawrence Yun, NAR chief economist, said the housing market is “clearly” on a recovery path, a viewpoint echoed by economic advisor Joel Naroff.

“At this point, we’re likely to see a steady improvement in sales,” he said.

Click the “Full Article” link below for a summary of who is buying and driving the market, courtesy of REALTOR® Magazine.

For more information on the real estate market, or for a consultation with a KW agent, contact us!

Source: REALTOR® Magazine | Full Article

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Rise in February Pending Home Sales

According to the National Association of REALTORS®, pending home sales increased in February with notable regional variations.

The numbers are based off of the Pending Home Sales Index, a forward-looking indicator.

February hit 90.8 percent, up from 88.9 in January.

Although this month-to-month trend is promising, NAR Chief Economist Lawrence Yun said that it is more important to look at the broader trend for housing recovery.

“Month-to-month movements can be instructive, but in this uneven recovery it’s important to look at the longer term performance. Pending home sales have trended up very nicely since bottoming out last June, even with periodic monthly declines.”

– Lawrence Yun, NAR Chief Economist

Yun also said we may not see notable gains in existing home sales in the near-term. However, numbers are expected to rise 5 to 10 percent this year with the economic recovery, job creation, and excellent affordability rasing buyer confidence.

Interested in buying or selling your home? Contact us today for more information!

SourceREALTOR® Magazine | Full Story

New Construction Sales Boost Forecasted Through 2012

According to various reports from major homebuilders and economists, a dramatic increase in new construction sales will take place this year, likely extending into 2012.

This boom in sales will help to bolster a housing market that has received plenty of bad press recently for its troubles. David Crowe, chief economist for the National Association of Homebuilders, said new home sales will rise approximately 20 percent to 385,000 this year.

Despite the predicted increase, some experts believe the contracts written for new home sales will be “good” but not “great” – at least initially. As the weather transitions to spring, it is expected that the sales pace for new homes will begin its upward climb.

For more information on the state of the housing market, please contact us!

Source: Businessweek | Full Article

Housing Market Stabilizing, Home Prices Gaining

According to a recent S&P/Case-Shiller report, national home prices jumped 3.6% over the past year. Despite many recent news stories detailing the troubles of the housing industry, the market is stabilizing, a good sign for both buyers and homeowners alike.

“While the numbers are upbeat, other more recent data on home sales and mortgages point to fewer gains ahead. Even with concerns about near term developments, we recognize that the housing market is in better shape than this time last year.”

– David M. Blitzer, Index Committee Chairman at Standard & Poor’s

For the full article, please follow the link below.

Contact us today for more information on buying or selling a home!

Source: CNN Money | Full Article

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