NAR Chief Economist Lawrence Yun stated that "Unless sizeable supply gains occur for new and existing homes, prices and rents will continue to exceed wages into next year and hamstring a large pool of potential buyers trying to buy a home."
Read More »Institutional Investors Slightly Less Active
The share of all-cash sales continues to decline, and the share of homes purchased by institutional investors—who account for the largest percentage of all-cash sales—has dropped right along with it.
Read More »Median Homebuyer Age Has Remained ‘Remarkably Steady’ Over the Years
Despite rising shares of homebuyers age 50 and over and shrinking percentages of homeowners ages 35 to 50 and under 30, the median age of homebuyers has remained “remarkably steady” in the last decade.
Read More »Pending Home Sales Still Healthy Despite Modest Decline
According to the NAR's Pending Home Sales Index (PHSI), contract signings decreased 1.4 percent to 109.4 in August, down from 110.9 in July. However, the index is still 6.1 percent higher that 103.1 recorded in August 2014.
Read More »Pending Home Sales Rise for the Sixth Time in Seven Months
Additionally, the index has increased year-over-year for 11 consecutive months and is the third highest reading of 2015, behind April (111.6) and May (112.3).
Read More »Existing-Home Sales Continue Surge While First-Time Buyer Sales Fall
Total existing-home sales rose 2.0 percent to a seasonally adjusted annual rate of 5.59 million in July from a downwardly-revised 5.48 million in June.
Read More »Nearly All Metro Areas See Home Price Appreciation in Q2
According to the NAR, price gains were recorded in 85 percent of metro areas in the first quarter. In addition, 34 metro areas experienced double-digit increases in the second quarter, a decline from the 51 metro areas in the first quarter.
Read More »Like-Kind Exchanges in Real Estate Support Financial Growth and Economy
Among the reasons for participating in a like-kind transactions, survey respondents and their clients noted deferral of capital gains taxes, equity to acquire additional properties, estate planning, portfolio diversification, and completion of a development project.
Read More »Existing-Home Sales Hit Six-Year High
Total housing inventory increased by 3.2 percent to 2.29 million existing homes available for sale at the end of May, and is 1.8 percent higher than the 2.25 million homes for sale a year ago, the report says. Meanwhile, unsold inventory dropped down to a 5.1-month supply at the current sales pace for May, down from 5.2 months in April.
Read More »Index for Pending Home Sales Hits Two-Year High
The index also broke down pending home sales by region. While the South and West saw an increase of 4 percent and 1.7 percent for March, respectively, the Northeast and Midwest saw drops, decreasing by 1.5 percent and 2.5 percent.
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