Washington, DC Real Estate
As the third quarter closed, home resales showed considerable momentum nationwide. The National Association of REALTORS® reports Existing Home Sales at 4.75 million units in September 2012 on a seasonally-adjusted, annualized basis, an 11 percent increase from one year ago. An "existing home" is a home that's been previously occupied; a resale. The reading marks the second-highest tally of the year -- second only to August 2012 when 4.83 million homes were sold on a … [Read more...]
The home resale market put forth another strong data set last week. Home sales prices are higher nationwide and sales volume has moved to a 2-year high. According to the National Association of REALTORS®, 4.82 million "existing homes" sold on a seasonally-adjusted, annualized basis in August, representing a near 8 percent improvement from the month prior and a nine percent jump from August 2011. An existing home is a home which has been previously occupied. Home sales were unevenly … [Read more...]
Home builder confidence rises again. For August 2012, the National Association of Homebuilders reports the monthly Housing Market Index at 37 -- an increase of more than 100% from one year ago and the highest HMI value since February 2007. The Housing Market Index is an indicator of homebuilder confidence and when it reads 50 or better, the HMI suggests favorable conditions for home builders. Readings below 50 suggest unfavorable conditions for builders. Despite the recent rise in home … [Read more...]
In Washington DC, we have a sellers' market. Inventory is down and prices are up. This week, we're taking a look at Logan Circle. With dozens of restaurants and shops, Logan Circle has become one of DC's most sought-after neighborhoods. So what does Logan Circle have to offer the first-time homebuyer with a budget of $300k? Today, not much. Currently, only five properties are being offered in Logan Circle at this price point. Let's take a look. 1239 Vermont Ave NW #601 - … [Read more...]
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...]
New Home Sales slowed into the New Year but the market for newly-built homes remains strong. For home buyers in DC and nationwide, December's New Home Sales report is yet one more signal that the housing market recovery may be underway. According to the Census Bureau, the number of new homes sold in December 2011 slipped 2 percent to 307,000 units on a seasonally-adjusted, annualized basis nationwide. A "new home" is a home that is considered new construction; a home for which the buyer … [Read more...]
The housing market finished 2011 with strength, and is carrying measurable momentum into 2012. According to data from the National Association of REALTORS®, on a seasonally-adjusted, annualized basis, December's Existing Home Sales climbed by 120,00 units overall from the month prior on its way to an 11-month high. An "existing home" is a home that's been previously occupied; that cannot be considered new construction. After 4.61 million existing homes were sold in December, … [Read more...]
If you're waiting for home prices to reach its bottom, you may have missed your window. After 3 consecutive months of easing, the Pending Home Sales Index jumped 10 percent in October, lending credence to the belief that housing is in recovery. The Pending Home Sales Index is a monthly publication from the National Association of REALTORS®. It measures the number of homes under contract to sell nationwide. October's reading is the highest for all of 2011, and the second-highest dating … [Read more...]
Nationwide, fewer homes are going under contract to sell. According to the National Association of REALTORS®, the Pending Home Sales Index fell 5 percent last month. September marks the fourth consecutive month in which the index has dropped. The Pending Home Sales Index is a monthly index which measures the number of homes under contract to sell, but not yet closed. As such, it's among the few "forward-looking" housing indicators; a data set meant to predict future home sales. 80% of … [Read more...]
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