Category Archives: Selling a Home

Inventory levels in 2012 reached an 11-year low and fell yet again last month, further limiting the number of homes for sale nationwide. Inventories of for-sale homes were down by 16.5 percent in January year-over-year, and fell 5.6 percent from December, according to the latest data compiled from Realtor.com. Inventories typically fall in December and January in preparation of the spring buying season. “But the shortage of homes for sale in a growing number of U.S. markets is maddening for would-be buyers who frequently complain that there aren’t enough good […]

The national median home price saw the strongest year-over-year increase in seven years as a growing number of metropolitan areas posted higher median values in the fourth quarter of 2012, the National Association of Realtors said. Favorable affordability conditions, increasing rent rates, demand for housing and job creation are some of the drivers leading to solid home price performance, said chief economist Lawrence Yun at NAR. “Home sales are on a sustained uptrend, mortgage interest rates are hovering near record lows and unsold inventory is at the lowest level in […]

The number of Luxury residential homes that sold for $5 million or more in California reached a record in 2012, according to DataQuick, a real estate information service. DataQuick reported that 697 homes sold for more than $5 million in 2012, up from the previous record of 491 in 2011. California also reached sales records last year in the $4-5 million range and the $3-4 million range, and also had the highest number of home sales of more than $1 million since 2007. And a record number of buyers paid […]

The Pending Home Sales Index, an indicator that reflect contracts but not closings, fell 4.3 percent in December. While pending home sales declined last month, they have stayed above year-ago levels for 20 consecutive months, according to the National Association of REALTORS®. NAR breaks the index down by region, and noted that the current local variation depends a great deal on available inventory levels. “Supplies of homes costing less than $100,000 are tight in much of the country, especially in the West, so first-time buyers have fewer options,” said Lawrence […]

Pending home sales, a measure of home contract signings, shot up in the month of November, reaching its highest level on record in two-and-a-half years, the National Association of Realtors said. It’s also the third consecutive month of sales increases. The NAR Pending Home Sales Index doesn’t measure home closings, but it does function as a forward-looking indicator by studying real estate contracts signed in order to gauge future closing levels. The index rose 1.7% to 106.4 in November, up from 104.6 in October and is 9.8% above an index […]

The economy got a little boost in October and November that was mostly attributed to an increase in home sales and consumer spending, according to the Federal Reserve’s Beige Book. Nine of the Fed’s 12 regional banking districts showed growth during the time period. However, the Northeast had notably slow economic growth, which was mostly attributed to the impact of Hurricane Sandy, which struck the region in October. Economic growth was notably slower in New York, Philadelphia, and Boston, which the Beige Book noted also had a slowdown in sales […]

Low-ball appraisals are hurting home sales, real estate agents and home sellers complain. In recent months, low housing inventories in many markets have sparked bidding wars on some homes. The bidding wars have helped push up home prices higher than recent comparable sales, agents say. But a low appraisal then threatens to derail the deal, they add. Appraisers have faced criticism over their property valuations in recent years, and have been accused of using foreclosures and short sales as comparable sales—without adjustment. However, appraisal firms say the idea that appraisers […]

When neighbors build true connections with one another, it fosters higher property values, strong schools, and lower crime rates in their neighborhood, according to studies by Dennis Rosenbaum, director of the Center for Research in Law and Justice at the University of Illinois at Chicago. Help introduce home owners to their neighbors by tweeting free info from the REALTOR® Content Resource on seven holiday events that better your community. That’s one of four free articles now available in the November “Stuff Yourself with Thanksgiving Planning” theme. You can also add […]

Florida earned its reputation as a recovered Sand State in September with pending home sales soaring 40.1% above year-ago levels. While pending sales are contracts yet to be closed, Florida Realtors found that statistic compelling enough to declare Florida no longer in recovery mode, but stabilized and on solid footing. Closed single-family sales also increased, rising 2% from last September to 15,643 sales last month, the Florida Realtors industry data and analysis department said. The statewide median price for single family homes also grew 7.4% from last year, with the […]

Sales are quickening their pace as the time to sell a home decreases and falls more in line with a “balanced” housing market, according to new research by the National Association of REALTORS®. The median time a home listed for sale was on the market in July was 69 days, down from 98 days one year earlier. Broken down further, one-third of homes purchased in July were on the market for less than a month, and one in five of homes purchased in July were on the market for at […]