Existing Home Sales Numbers Highest Since 2009

Housing Analysis , ,
The National Association of REALTORS reported that sales of existing homes in April reached 4.97 million on a seasonally-adjusted annual basis. Although this reading fell short of Wall Street's expectations of 5.00 million existing homes sold, it surpassed the March 2013 upwardly revised reading of 4.94 million existing home sales. This represents a 0.60 percent increase from March to April, and a 9.70 increase year-over-year. Low Mortgage Rates Contribute To High Sales Levels  Low mortgage rates and pent-up demand for homes are driving sales of existing homes, which reached their highest level since November 2009.  Lawrence Yun, chief economist for…
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May 2013 RealtyTrac Foreclosure Report Shows Strength For The US Housing Market

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RealtyTrac recently reported that national foreclosure filings are down while foreclosure filings are seeing marked increases in some states. There are two systems for foreclosing residential real estate in the United States; judicial and non-judicial foreclosure. The states individually decide which foreclosure process will be followed in their state. Click Here To Download An Overview Of The Foreclosure Process Judicial foreclosure requires action by the courts because the mortgage is not written including a "power of sale clause". Judicial foreclosure proceedings generally take longer than non-judicial processes due to this court involvement. A log-jam of delayed judicial foreclosures are beginning…
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Existing Home Sales Numbers Show Value Gains Across America

Housing Analysis , ,
The National Association of REALTORS® released its Existing Home Sales report for March on Monday. Sales dipped from February's seasonally adjusted annual rate of 4.95 million to 4.92 million existing homes sold in March, a decrease of 0.6 percent month-to-month.  This reading was lower than Wall Street's consensus of 5.03 million existing homes sold, but there is also good news. Sales of existing homes are up by 10.3 percent as compared to March 2012. Economists note that existing home sales have performed within a narrow range of 4.90 to 4.96 million since November 2012. This illustrates the impact of lower…
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