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Tag Archives: Home Sales

Report: Recent Price Gains Bound to Slow

Low inventories driven by reluctant sellers, high levels of underwater homeowners, and meager rates of new construction have all played a role in driving home prices upward of late, Radar Logic explains in its RPX Monthly Housing Market Report for April. As of April 2013, the analytics firm's 25-metropolitan-area composite averaged $205.46 per square foot, up 13.1 percent year-over-year and up 2.7 percent month-over-month. This translates into a gain of 23.7 percent from the January 2012 low of $169.62. Prices though are still 26.2 percent below the June 2007 peak.

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Report: Housing Market 61% ‘Back to Normal’

May's percentage is the first time the recovery has passed 60 percent since the crash, according to the latest Housing Barometer from Trulia. April's barometer was 54 percent. A year ago, the barometer was at only 35 percent. The monthly report measures three key housing market indicators--construction starts, existing-home sales, and the delinquency-plus-foreclosure rate--to track how quickly the market is recovering to its normal, pre-bubble state.

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Survey: Agents Expect Prices to Rise, but in Smaller Increments

Eighty-six percent of agents believe prices will rise over the next few months. The same percentage of agents say now is a good time to sell a home. Both of these categories have increased from the first quarter of the year to the second. However, while a majority of agents expect price gains, a minority expect prices to ""rise a lot."" The percent of agents who anticipate prices rising ""a lot"" in coming months fell from 44 percent in the first quarter to just 16 percent in the second quarter, according to Redfin's survey.

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New Home Sales Up, Price Slips in May

The price of a new single-family home dropped 3.2 percent in May, but sales increased 2.1 percent to 476,000, the highest level in almost five years, the Census Bureau and HUD reported Tuesday. Economists surveyed by Bloomberg expected April sales to increase to 460,000 from April's originally reported 454,000. April sales were revised to 466,000.

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Case-Shiller Indices Post Record Monthly Gains

Home prices posted their strongest monthly gain on record in April, increasing more than 2.5 percent, according to the Case-Shiller Home Price Indices released Tuesday. The monthly 20-city index rose 2.5 percent in April, while the companion 10-city index increased 2.6 percent. Year-over-year, the 20-city index was up 12.1 percent, and the 10-city index was up 11.6 percent, each being the strongest yearly gain since March 2006.

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Investor Activity Falls Sharply in May

As prices rise, investors are having a harder time justifying housing market purchases, according to a recent Campbell/Inside Mortgage Finance HousingPulse Tracking survey. In May, the share of home purchases from investors fell to the lowest level in more than three years, dropping to 20.2 percent from 22 percent in April, according to the survey.

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Commentary: We’re Forever Seeing Bubbles

The recent jump in home prices has led to speculation that the rapid surge in home prices could be the sign of a new housing bubble similar to the one that led to the Great Recession. Is it? The not-so-short answer is, not yet. An increase in prices itself does not signal a bubble. An unsustainable increase, not supported by other data, however, would. In the run-up to the 2006 collapse, the higher prices--which had been trending up for four years--led to a sharp uptick in construction wholly unsupported by demographics.

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International House Hunters Maintain Activity in U.S. Market

While the level of search activity from international house hunters changed little year-over-year, Trulia found trends are changing among foreigners who shop for homes in the U.S. Among the home searches conducted on Trulia from April 2012 to March 2013, search activity from internationals accounted for 4.3 percent of all searches, down slightly from 4.4 percent a year ago.

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