Category Archives: Selling a Home

California lawmakers have introduced a bill that sets out to stop a an “REO to rental” pilot program in the state that would allow bulk sales of Fannie Mae’s bank-owned properties to investors. Rep. Gary Miller, a Republican who represents California’s 42nd Congressional District, introduced H.R. 5823, “Saving Taxpayers from Unnecessary GSE Bulk Sale Program Act of 2012,” along with seven co-sponsors to the bill. The bill’s introduction was applauded by the California Association of REALTORS®, who has spoken out against an REO bulk-sales program in the state. “We are […]

Fewer Americans acquired new homes in March compared to February, dampening optimism that the housing market could see a material turnaround this year. Still, numbers are improved from a year ago. The Commerce Department recorded 328,000 new single-family home sales in March, down 7.1% from the revised February estimate of 353,000 home sales. The 7.1% home value drop is steeper than the 1.6% drop in new home sales experienced in February and the 5.4% decline recorded back in January. But it is up 7.5% from March of 2011, suggesting improvement […]

The nationwide inventory of residential homes for-sale dropped 21 percent in March compared to a year ago, according to newly released housing data from Realtor.com, tracking 146 metro markets. In fact, all 146 markets posted a drop in their inventory, except for two — Hartford, Conn., and Philadelphia. The nationwide median list price in March also saw improvement, increasing more than 5 percent last month compared to last year at this time. The housing picture is much different than last year at this time, when inventory was up 26 percent […]

Pending home sales were down slightly in February, but remain notably above the pattern in the first half of 2011, according to the National Association of REALTORS(R). The Pending Home Sales Index, a forward-looking indicator based on contract signings, eased 0.5 percent to 96.5 in February from 97.0 in January, but is 9.2 percent above February 2011 when it was 88.4.  The data reflects contracts but not closings. Lawrence Yun, NAR chief economist, said we’re seeing the continuation of an uneven but higher sales pattern.  “The spring home buying season […]

Pending home sales shot up in California during the month of February as more buyers signed contracts to acquire homes, the California Association of Realtors said Monday. C.A.R.’s pending home sales index grew from 102.3 in January to 127.8 in February. The index is based on the number of pending sales contracts signed each month. Contract activity is a sign of future home sales activity, and a sign of just how strong the home sales market is in certain areas. In February, the share of distressed sales recorded in California […]

Pending home sales fell slightly in February, but still remain well above levels set in the first half of 2011, the National Association of Realtors said Monday. The NAR Pending Home Sales Index is a forward-looking indicator of housing activity based on contract signings. The index hit a level of 96.5 in February, down 0.5% from a score of 97 in January. Still, it remains 9.2% above the February 2011 index score of 88.4. The data provided reflects the number of contracts signed, but not closings. “The spring home-buying season […]

New home sales dipped 1.6% in February to 313,000 from January, but rose 11.6% from the same period a year earlier. The seasonally adjusted annual measure, released by the Commerce Department Friday, fell from a downwardly revised January estimate of 318,000 from 321,000. Analysts surveyed by Econoday expected a much better result of 325,000 for the February estimate. The actual nonadjusted total of new homes sold increased to 25,000 in February from 22,000 both a month and year earlier. The median and average sales prices, also unadjusted, rose 8.3% and […]

While many housing markets remain weak, some bright spots are popping up especially in areas where inventory is low in lower-priced segments, according to HomeValueForecast. The majority of statistical areas across the country demonstrated positive real estate trends in February, despite weak markets in some larger areas, according to HomeValueForecast, a partnership between Pro Teck Valuation Services and Collateral Analytics. Top markets in February include four in South Florida, a few around the Pennsylvania-Ohio border, and one each in Michigan, Utah and near the Arkansas-Missouri border, Pro Teck said. “The […]

Existing home sales on all single-family homes, townhomes, condos and co-ops rose 4.3% during the month of January, making it the third sales increase in the past four months, the National Association of Realtors said Wednesday. In January, home sales hit a seasonally adjusted annual rate of 4.57 million units, compared to a pace of 4.38 million units in December and 4.54 million units in the year-ago period. As sales increased, inventory levels declined 0.4% from December with only 2.31 million existing homes on the market last month, representing a […]

January home sales in Southern California inched higher while prices fell — a trend occuring in other parts of the U.S. across the nation — as traditional buyers retreated and investors snapped up homes at a record level. More than 14,523 new and resale houses and condos sold in January in the six counties that comprise Southern California, according to DataQuick. The figure held steady from a year earlier when home sales totaled 14,458, but fell 24.5% from 19,247 in December. Sales increased year-over-year for the last six months, except […]