“Consumers rationally jumped into the market before the deadline for the home buyer tax credit expired. Since May, after the deadline, contract signings have been notably lower and a pause period for home sales is likely to last through September. However, given the rock-bottom mortgage interest rates and historically high housing affordability conditions, the pace [...]
Fourth Quarter Existing-Home Sales Surge in Most States, Prices Up in More Areas
February 15, 2010 By Leave a Comment
Synopsis: Homebuyer tax credit and low interest rates had a positive impact on home sales in the last quarter of 2009. Sales of distressed properties were down 5% over the previous year. The national median sale price for a single family home was 4.1% lower than a year ago, but some areas are seeing double [...]
August 2009 Pending Sales Data
October 2, 2009 By Leave a Comment
Lawrence Yun, NAR chief economist, discusses the statistical data up to August 2009 and explains what the information is telling us about the market. Video: Key Points: Pending sales are up all over the country. A monthly increase of 6.4% and an annual increase of 12.4%. The disconnect between pending home sales figures and existing [...]
