Pending Home Sales Index Suggests Housing Momentum Into 2013

Oct 30

Pending Home Sales Index Suggests Housing Momentum Into 2013

October 30, 2012 By Justin Paulhamus Leave a Comment

The home resales is expected to finish the year with strength. Last month, for the fifth straight month, the Pending Home Sales Index hovered near its benchmark value of 100, registering 99.5 in September. The Pending Home Sales Index tracks homes under contract to sell, but not yet sold, and is published by the National Association of REALTORS®. The index is a relative one. It compares today's housing market activity to the housing market activity of 2001 -- the index's first year of … [Read more...]

Filed Under: Selling Real Estate in Washington, DC Tagged With: NAR, National Association of Realtors, New Home Sales, Pending Home Sales Index, PHSI, Real estate economics, September, September 2011, U.S. Housing Market

Oct 26

New Home Supply Remains Firmly In “Seller’s Market” Territory

October 26, 2012 By Justin Paulhamus Leave a Comment

The U.S. housing market appears headed for a strong close to 2012. According to the U.S. Census Bureau, the number of new homes sold jumped to 389,000 units in September 2012 on a seasonally-adjusted, annualized basis. Not since the expiration of the $8,000 federal home buyer tax credit in April 2010 have new homes sold at such volumes. September's tally marks a 5.7 percent increase from the month prior, and a 27 percent increase from September 2011. There are now just 145,000 new homes … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Selling Real Estate in Washington, DC Tagged With: Buyer, homes for sale, Mortgage loan, mortgage rates, New Home Sales, New Home Supply, Real estate pricing, Supply and demand, U.S. Housing Market, United States Census Bureau

Oct 22

What’s Ahead For Mortgage Rates This Week : October 22, 2012

October 22, 2012 By Justin Paulhamus Leave a Comment

Mortgage markets worsened last week as hope for a European economic rebound and stronger-than-expected U.S. economic data moved investors out of mortgage-backed bonds. Mortgage rates all of types -- conventional, FHA and VA -- lost ground last week, harming home affordability in DC and reducing purchasing power nationwide. Rising rates also thwarted would-be refinancing households hoping to time a market bottom. The increase runs counter to Freddie Mac's weekly Primary Mortgage Market … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: District of Columbia, Federal Open Market Committee, FOMC, Freddie Mac, mortgage, mortgage rates, New Home Sales, Purchasing Power, washington dc

Aug 29

New Home Sales Reach Multi-Year High

August 29, 2012 By Jessica Wilkie Leave a Comment

The market for newly-built homes remains strong. As reported by the U.S. Department of Commerce, 372,000 new homes were sold in July on a seasonally-adjusted, annualized basis. A "new home" is a home that can be considered new construction. July's New Home Sales report highlights what today's buyers of new construction and the nation's home builders have witnessed for themselves already -- that the market for newly-built homes is improving in DC and nationwide. The number of new homes … [Read more...]

Filed Under: Selling Real Estate in Washington, DC Tagged With: Builder Confidence, July, National Association of Home Builders, National Association of Realtors, New Home Sales, New Home Supply, Real estate economics, Real estate pricing, United States, United States Department of Commerce

Jul 25

Home Values Rise 0.8% In May 2012

July 25, 2012 By Justin Paulhamus Leave a Comment

The housing market's bottom is 9 months behind us. Home values continue to climb nationwide. According to the Federal Home Finance Agency's Home Price Index, home values rose 0.8% in May on a monthly, seasonally-adjusted basis. May's reading marks the sixth time in seven months that home values rose. Values are now higher by 4 percent since the market's October 2011 bottom. As a DC home buyer or seller, though, it's important to understand what the Home Price Index measures. Or, more … [Read more...]

Filed Under: Selling Real Estate in Washington, DC Tagged With: District of Columbia, Fannie Mae, Federal Housing Administration, FHFA, Freddie Mac, Home Price Index, House price index, HPI, New Home Sales, Price index, Real estate economics, washington dc

May 24

New Home Sales Rise For 7th Month Out Of 8

May 24, 2012 By Justin Paulhamus Leave a Comment

The April New Home Sales report suggests that the market for newly-built homes is as strong as the market for existing ones. According to the U.S. Census Bureau, the number of new homes sold rose 3.3 percent in April to a seasonally-adjusted, annualized 343,000 units sold -- its second-highest reading since April 2010. April 2010 marked the last month of that year's federal home buyer tax credit program. April's New Home Sales data also marks the 7th of eight consecutive months during … [Read more...]

Filed Under: Selling Real Estate in Washington, DC Tagged With: Buyer, Homebuilder Confidence, Mortgage loan, New Home Sales, New Home Supply, Real estate pricing, Seasonal adjustment, Supply and demand, United States Census Bureau, Washington D.C.

Apr 27

Pending Home Sales Index Crosses The 100 Barrier

April 27, 2012 By Joshua Oliver 1 Comment

After a series of worse-than-expected data last month, the housing market appears to be back on track. The Pending Home Sales Index posted 101.4 in March, a four percent gain from the month prior and the index's highest reading since April 2010 -- the last month of that year's federal home buyer tax credit. A "pending home" is a home under contract to sell, but not yet closed. The Pending Home Sales Index is tracked and published by the National Association of REALTORS® … [Read more...]

Filed Under: Selling Real Estate in Washington, DC Tagged With: Case-Shiller Index, Existing Home Sales, NAR, National Association of Realtors, New Home Sales, Pending Home Sales Index, Real estate economics, Real estate pricing, washington dc

Apr 25

New Home Sales Revised Higher In February; Slip 7% In March

April 25, 2012 By Justin Paulhamus 1 Comment

Sales of new homes ticked lower in March, unexpectedly. Based on Census Bureau data, the number of new, single-family homes sold in March slipped 7 percent from February -- the largest one-month drop in more than a year. On a seasonally-adjusted, annualized basis, buyers in DC and nationwide purchased 328,000 newly-built homes last month. The decrease in sales from February to March can be attributed, in part, though, to a massive upward revision in February's figures. Last month, the … [Read more...]

Filed Under: Selling Real Estate in Washington, DC Tagged With: Buyer, Census Bureau, February, New Home Sales, New Home Supply, Real estate economics, Seasonal adjustment, U.S. Housing Market

Mar 27

New Home Sales Slip In February

March 27, 2012 By Barbara Morrocco 1 Comment

Sales of "new homes" fell to the lowest levels in four months last month. According to the Census Bureau's monthly New Home Sales report, 313,000 new homes were sold in February 2012 on a seasonally-adjusted, annualized basis, representing a 1.6% drop from the month prior. A "new home" is a home for which there has been no prior owner nor tenant. At first glance, the data looks negative for the housing market; a suggestion that the well-publicized housing market recovery may be slowed. … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Selling Real Estate in Washington, DC Tagged With: Buyer, Census Bureau, District of Columbia, February, National Association of Realtors, New Home Sales, New Home Supply, real estate, Real estate economics, U.S. Housing Market, washington dc

Feb 28

New Home Supply Falls To 5.6 Months

February 28, 2012 By Jessica Wilkie Leave a Comment

The new construction market rolls on. As foreshadowed by February's Homebuilder Confidence survey, which rose to a 4-year high, the Census Bureau reports new homes are selling more quickly than builders have built them, lowering the national "home supply" to levels not seen since 2006. A "new home" is a home that is considered new construction and, at the current pace of sales, the nation's entire new home inventory of 151,000 homes would be sold in 5.6 months. Anything less than … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Census Bureau, construction, Mortgage loan, New Home Sales, New Home Supply, real estate, Real estate pricing, Sales