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Oct 30

Pending Home Sales Index Suggests Housing Momentum Into 2013

October 30, 2012 By Leave a Comment
Pending Home Sales Index

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: , , , , , , , ,
Oct 24

Home Supplies Drop To Multi-Year Low

October 24, 2012 By Leave a Comment
Home Supplies Drop to Multi-Year Low

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...]

Filed Under: Selling Real Estate in Washington, DC Tagged With: , , , , , , , , , ,
Oct 17

Home Builder Confidence Moves To 6-Year High

October 17, 2012 By Leave a Comment
Housing Market Index

As home prices rise, so does home builder confidence. Tuesday, the National Association of Homebuilders reported its monthly Housing Market Index (HMI) at 41, a one-tick improvement from September and the highest HMI value since June 2006 -- a span of 77 months. The Housing Market Index is a homebuilder confidence indicator. When it reads 50 or better, the HMI suggests favorable conditions for home builders nationwide. Readings below 50 suggest unfavorable conditions for builders. The … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Selling Real Estate in Washington, DC Tagged With: , , , , , , , , ,
Oct 04

With Tomorrow’s Job Report Due, Mortgage Rates May Finally Rise

October 4, 2012 By Leave a Comment
Employment Report - September, 2012

It's a dangerous time for home buyers in District of Columbia to be without a locked mortgage rate. Friday morning, at 8:30 AM ET, the government releases its Non-Farm Payrolls report for September. More well-known as "the jobs report", Non-Farm Payrolls data has the power to move mortgage rates up or down. Unfortunately, ahead of the release, we can't know which. Last year, job growth more than doubled between August and September. If this year shows that same growth, DC mortgage rates … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , , , , , , ,
Oct 20

Finding Truth In September’s Housing Starts Report

October 20, 2011 By Leave a Comment
octhousingstarts

Headlines in newspapers can be misleading -- especially with respect to housing figures. Media coverage of the most recent Housing Starts data serves as an excellent illustration. Wednesday, the Census Bureau released its September Housing Starts report. In it, the government said that national Housing Starts rose 15 percent in September as compared to August 2011, tallying 658,000 units on a seasonally-adjusted annualized basis. The September reading is the highest monthly reading since … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , , , , ,
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