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Oct 26

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

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...]

Aug 21

Single-Family Housing Starts Remain Strong

The market for newly-built homes remains strong. As reported by the U.S. Census Bureau, July featured 502,000 single-family housing starts nationwide on a seasonally-adjusted, annualized basis, marking the fourth straight month during which single-family starts posted north of one-half million. The last time this milestone occurred was in the four months ending April 2010 -- the last month of that year's federal home buyer tax credit. A "housing start" is a home on which construction … [Read more...]

May 24

New Home Sales Rise For 7th Month Out Of 8

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 which the … [Read more...]

Dec 22

Home Supplies Fall To 7.0 Months Nationwide; Buyer Demand Strong

Home resales moved to a 10-month high in November, the latest in a series of strong showings from the housing sector. According to the National Association of REALTORS®, November's Existing Home Sales rose to a seasonally-adjusted, annualized 4.42 million units nationwide --  a 4 percent climb from October 2011. An "existing home" is a home that has been previously occupied and cannot be categorized as new construction. Home buyers and sellers throughout DC should take note of November's numbers … [Read more...]

Oct 26

District of Columbia Posts One Year Gain in Home Values

The August 2011 Case-Shiller Index was released this week. On an monthly basis, 10 of 20 tracked markets worsened. On an annual basis, valuation degradation was worse. Only Detroit and Washington, D.C. posted higher home values in August 2011 as compared to August 2010, rising 2.7% and 0.3%, respectively. However, the index has been moving in the right direction. Since bottoming out in March of this year, the Case-Shiller Index is up nearly 4 percent. As home buyers and sellers in … [Read more...]

Oct 21

Despite 18% Contract Failure Rate, Home Resales Stay Strong

Despite fewer homes for sale nationwide, the number of home resales remains steady. According to data from the National Association of REALTORS®, on a seasonally-adjusted, annualized basis, September's Existing Home Sales eased by 150,000 units, falling to 4.91 million units nationwide. An "existing home" is a home that's been previously occupied and, despite last month's drop, September's sales volume remains the second-highest on record since April 2011. This statistic is noteworthy … [Read more...]

Sep 29

Case-Shiller Index : 85% Of Tracked Cities Showed Home Price Improvement In July

Standard & Poors released its monthly Case-Shiller Index this week. The Case-Shiller Index measures home price changes from month-to-month, and year-to-year, in 20 select U.S. cities. It also reports a "national" index; a composite of the values in said cities. The most recent Case-Shiller Index shows a 0.9% rise in home values from June to July 2011. Home values were higher in 17 of the 20 tracked cities. Only Phoenix and Las Vegas fell. Denver was flat. Also noteworthy is that, of … [Read more...]

Sep 27

Existing Home Sales Jump; Home Supplies Falling

Are home resales rebounding? According to the National Association of REALTORS®, Existing Home Sales rose 8 percent in August from the month prior, and 19 percent as compared to August of last year. "Existing homes" are homes that are previously owned; ones that cannot be considered new construction. A total of 5.0 million existing homes were sold last month on a seasonally-adjusted, annualized basis. This is slightly better than the 12-month home resale average, a statistic partially … [Read more...]

Aug 23

Existing Home Sales Slip In July

Home resales slipped in July. According to the National Association of REALTORS®, Existing Home Sales nationwide fell to 4.67 million units on a seasonally-adjusted annualized basis last month. It's the fourth straight month below the 5 million mark, and the report's lowest reading since November 2010. An "existing home" is a home that's been previously occupied or owned. In addition, the Existing Home Sales report showed home supplies rising nationwide. At the current pace of sales, in … [Read more...]

Aug 16

Homebuilders Expect A Soft Winter Housing Market

Two months after posting their worst confidence reading of 2011, home builders say they foresee no improvement in the immediate- or medium-term market for new homes nationwide. In August, for the second straight month, the Housing Market Index read 15. The HMI is a monthly housing survey, published by the National Association of Homebuilders. It's scored on a scale of 1-100 with readings over 50 suggesting favorable home builder conditions. Readings under 50 suggest unfavorable … [Read more...]