Tag Archives: Home Sales

According to the latest quarterly report by the National Association of Realtors (NAR), year-over-year home price growth continued in most metros, albeit at a slightly lessened pace. The median existing single-family home price increased in 74 percent of measured markets.

The share of all-cash sales reached a new high in the first quarter of 2014, even as the total share of institutional investor purchases dropped to near-record lows. All-cash sales made up 42.7 percent of all U.S. residential property sales for Q1, up from 37.8 percent from the previous quarter, according to RealtyTrac’s U.S. Institutional Investor and Cash Sales Report.

With concerns about employment easing, Americans are increasingly optimistic about the housing market, reports Fannie Mae in its April National Housing Survey. And, according to the mortgage buyer, this climbing optimism may foreshadow an upswing in housing activity through the summer months.

In a survey of more than 2,000 adults, Trulia found an estimated 41 percent “would strongly or somewhat prefer” to buy a new single-family home over an existing one, assuming the prices were equal. Just more than one in five respondents—21 percent—said they would prefer an existing home, while 38 percent expressed no preference.

Despite a lackluster Spring that went against analyst's projections, CoreLogic's Home Price Index reported that home prices, including distressed and non-distressed sales, still rose from February to March by 1.4 percent. Without distressed sales, the HPI still reflected positive gains for the month, up 0.9 percent month-over-month.

Clear Capital recently released its Home Data Index Market Report, which found the best deals in the housing market now reside in the middle-tier of available homes. The group found that following more than two years of recovery, low-tier homes are no longer the best value for homebuyers.

RealtyTrac released its U.S. Home Flipping Report for Q1 2014, reporting that 3.7 percent of all U.S. single-family home sales were flips. Home flipping over all is down, dropping 4.1 percent from the fourth quarter in 2013, as well as declining 6.5 percent from the previous year’s first quarter.

According to the Fastest Markets Report issued by Redfin, homes are "flying off the market" in many places, such as San Francisco, California; Austin, Texas; and Washington, D.C. The report notes that although homes are selling faster, fewer total homes are selling. Inventory has risen in these metros, but prices are holding buyers back.

The Michigan State Housing Development Authority (MSHDA) announced during its 16th annual Building Michigan Communities Conference that it projects increases in new housing starts, rising home price, and a decline in foreclosures. "The economic and housing outlook in Michigan for 2014 is decidedly brighter than what we've seen at any time over the previous five years," said MSHDA Executive Director Scott Woosley.

According to the latest release, NAR’s Pending Home Sales Index (PHSI) rose to 97.4 last month, up 3.4 percent from February’s upwardly revised 94.2. It was the first real pickup in the last nine months, the association said. NAR’s chief economist, Lawrence Yun, said the increase was expected with the end of last season’s severe weather.