Home / Tag Archives: Home Sales (page 101)

Tag Archives: Home Sales

Massachusetts Foreclosures Decline, Home Sales Drop

The Warren Group reports that year-over-year foreclosure petitions and deeds decreased in the Bay State during October. It was the first time this year that both petitions and deeds fell in Massachusetts. Foreclosure petitions plunged nearly 51 percent from October 2009 to 1,127 last month, the first month since January they have dropped below 2,000. Home sales also fell in October, down more than 28 percent. It's the fourth straight month of year-over-year sales declines.

Read More »

NAR Reports Existing Home Sales Declined 2.2% in October

In September, when existing home sales rose 10 percent, the National Association of Realtors (NAR) released a statement declaring the numbers meant a sales recovery had begun. One short month later, and after only two months of gains, sales have slumped 2.2 percent to a 4.43 million annual rate - which was even lower than economists had predicted. Also down was the median price of existing homes sold. Analysts agree that the recent foreclosure freezes likely disrupted a number of pending sales.

Read More »

Paperwork Problems Steer Buyers from Distressed Properties: Report

The ongoing controversy surrounding deficiencies in foreclosure documentation is taking its toll on the housing market as a significant share of home shoppers refused to even look at distressed properties in October, according to a study conducted by Campbell Surveys. Not only did reports of major servicers pulling REO properties off the market spook would-be homebuyers, but servicing problems resulted in 12 percent of scheduled closings being delayed or canceled due to REO title issues, the company found.

Read More »

Fannie Mae Launches REO Pilot Program

Fannie Mae is testing the waters for a new program that allows real estate agents to submit offers for the company's REO properties on behalf of their clients and track the status of those offers online. The program is being piloted in Orlando, Florida; San Diego, California; and Detroit, Michigan. The new feature is currently available for Fannie Mae-owned homes in these areas through the GSE's HomePath Web site. Officials say the program will provide increased transparency and efficiency in the submission process.

Read More »

Mortgage Apps Suffer Largest Drop of the Year as Rates Jump

Consumer demand for home loans plummeted last week as mortgage rates shot up against the backdrop of the Federal Reserve's announcement to pump more money into the economy - an initiative that's designed to keep interest rates low. The total volume of new mortgage applications sank 14.4 percent. It's the biggest week-to-week drop of 2010 and the lowest reading in four months. Rates for 30-year fixed mortgages rose 18 basis points during the one-week period, but analysts say it's too soon to conclude the Fed got it wrong.

Read More »

Internet Firms Partner to Provide Agents with Single-Property Web Sites

HomeGain has partnered with the Web technology development company AgencyLogic to offer single property Web sites to real estate agent and broker members. HomeGain Property Websites give real estate professionals a venue for showcasing a single home listing, with a custom domain name, the ability to add videos and photos, syndication to search engines, and sharing on social media sites.

Read More »

NAR Survey Finds Half of Homebuyers to be First-Time Purchasers

First-time homebuyers purchased half of all homes that were sold from July 2009 to June 2010, according to an annual survey of buyers and sellers conducted by the National Association of Realtors (NAR). It's the highest share of first-time homebuyers in the history of NAR's study, which dates back to 1981. The trade group attributed its findings to the success of the government's tax credits, but also voiced concern that today's credit policy restrictions are locking responsible borrowers out of homeownership.

Read More »

Report: Texas Home Sales Down in Third Quarter

According to the Texas Quarterly Housing Report released earlier this month, real estate sales in the Lone Star State decreased 20 percent in the third quarter of 2010 compared to a year earlier, but were essentially flat year-to-date. The Texas Association of Realtors attributes the statistics to an early peak in the market due to the federal homebuyer tax credits. The median home price in Texas remained virtually unchanged at $152,000.

Read More »

Home Prices Fall in Half of Major Metros on Post-Credit Sales Declines

Home prices dropped in 76 of the 155 metropolitan areas tracked by the National Association of Realtors (NAR) during the third quarter, following a sharp decline in sales after the federal government's homebuyer tax credit passed. Seventy-seven metro areas held their ground in the post-credit months and recorded higher median prices on existing homes compared to a year ago. NAR points to the numbers as improvement, considering only 30 metros experienced annual price gains this time last year.

Read More »

Housing to Continue in Recession with Loan Volume Slipping: iEmergent

Residential mortgage lending volume will fall below the $1 trillion mark in 2011, becoming the fifth year of what is emerging as a ""lost decade"" for the housing and home financing industries, according to new projections from the market research firm iEmergent. The company expects growth in home lending to remain ""slow"" through 2015, and warns that because of the economic collapse, the pool of potential mortgage applicants - homebuyers and homeowners looking to refinance - has been reduced to levels seen in 1995.

Read More »