According to recent data from the National Association of Realtors, existing home sales increased 6.5 percent to a seasonally adjusted annual rate of 5.39 million during the month of July. This spike continues a 25 month trend of year-over-year double digit increases of median home prices, factoring in single-family homes, townhomes, condominiums and co-ops.
Meanwhile from a buyer’s perspective, a 30 year, conventional, fixed-rate mortgage rose .3 percent from June and now stands at 4.37 percent. Unfortunately, this is the highest rate in past two years, “This increase pushed some buyers off the sidelines” said NAR Chief Economist Lawrence Yun. He continued by stating “The initial rise in interest rates provided strong incentive for closing deals. However, further rate increases will diminish the pool of eligible buyers.” Continue reading →
Recently, Homes.com celebrated some promising news regarding the state of the housing market as reported by the National Association of Realtors® (It’s Official: NAR Reports that Housing Market is ‘Solidly Recovering’!). All in all, the market is on the up and up. But how do things stand in your neck of the woods? Look no further because Homes.com has unveiled a Local Market Index Report, which is undoubtedly the most geographically comprehensive measure of the U.S. housing market right down to the quaint little cul-de-sac near you!
What is the Local Market Report? Utilizing home pricing data for the period ending March 2013, the Homes.com Local Market Report is a new summary of price performance on repeat sale properties for both single family and multi-unit/condominium sales within the U.S. This information substantiates pricing trends, performance, and growth indicators. Continue reading →
It’s a beautiful day in the neighborhood! Especially when home values are increasing, selling within a month and mortgage rates dropping another half percent. To say the least it’s a good day for buyers, sellers, real estate professionals and mortgage lenders!
The National Association of Realtors (NAR) recently released their national report on the state of the housing market through April. Homes.com thought you would be excited to know that properties are selling faster and at a higher price while distressed home sales only made up 18 percent of April’s total sales, a dramatic reduction compared to 28 percent of last April’s total sales. Lawrence Yun, NAR chief economist, stated “the housing market recovery is occurring in spite of tight access to credit and limited inventory” and with total sales above year-ago levels for last 22 consecutive months, we couldn’t be more hopeful by this news.
We’re almost halfway through 2013 and that means it’s time for one of the real estate industry’s largest events, NAR Midyear 2013! Homes.com is very excited to head back to Washington, D.C. to attend the Midyear Conference that kicks off May 14 and runs through May 16.
So far 2013 has been shaping up to be a great year in the real estate industry, as consumer confidence rises now more than ever it is crucial for real estate professionals to connect with local consumers searching for homes in their local areas.
Visit Homes.com at booth #502 and be one of the first to learn how you can connect with buyers and sellers in your area with mobile local ads!
While you’re at the Homes.com booth, make sure you enter for a chance to WIN a VISA gift card! Also, stay up to speed on the action at MidYear by following our LIVE updates onTwitter via @HomesProusing #NARmidyear. See you there!!
We are having the best time discovering the dream at this year’s NAR conference. From our open bar to our fun photobooth, we are finding all sorts of fun ways to connect with you as you discover the magic.
Don’t forget to swing by to hear one of our FREE education sessions with Joe Sesso, Erica Campbell, and Jimmy Mackin! These experts will teach you how to use technology and social media to further your real estate business. We’ll also be giving away gift cards after each presentation, as well as a cash prize of $1,000 a day! Even though the conference is well underway, there are still so many chances for you to win. Stop by our booth, number 2265, to enter!
If you haven’t already, be sure to like our Facebook page! There, you’ll see real time photo updates of what we’re up to and, if you like/comment the pictures, you’ll be entered to win an iPad Mini! You can also follow us on Twitter for all the latest updates on NAR. Join the conversation with the hashtags #narannual and #HomesNAR.