In a week full of economic results that indicated still weaker housing markets lie ahead, one interesting data point offering hope came from pending home sales, which were up +8.2% in May. This was partially driven by the fact that prior month results were down 11.3%, but this was... Read more
With overall home prices deflated or flattened, you may be wondering whether it’s best to buy a brand new home or an existing home. In a previous post, I talked about the benefits of buying a brand new home from a builder. In this post I look at 6... Read more
In the current housing market, you might be wondering whether it’s better to buy a newly-constructed home or one that has a few (or more) years of wear and tear – especially since some home builders, eager to move their supply, are offering to throw in flat-screen televisions or... Read more
Major remodeling projects can add to your home’s value, but in recent years, as the economy tanked, many homeowners cut back on remodeling expenses. Some home improvement forecasters, such as the folks over at the Harvard University’s Joint Center for Housing Studies, predict an upswing in projects this Spring,... Read more
Existing home sales rose 3.7% from February to March, according to data released by the National Association of Realtors. That encouraging upward direction is in line with a 2.1% increase in pending home sales. Of particular note is that 35% of the existing home sales transactions were cash-based. This... Read more
Reports of a better-than-expected Existing Homes Sales report are accurate, yet today’s results are far from levels we need and further from what we would like to see when looking at this data for guidance on recovery. The graph below is a helpful tool in placing this into perspective. With 4.5million... Read more
Today’s release of Pending Home Sales represents the number of contracts to purchase existing homes. It showed an increase of +4.3% month-over-month which, although positive, is still -18.4% lower than a year ago. These results are a precursor to the “Existing Home Sales” data to be released on Oct 25th,... Read more

A recent release of the Existing Home Sales report from the National Association of Realtors shows existing home sales data for the month of February 2010, including number of sales, housing inventory, and median home prices.

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As rates dropped below 5 percent over the first two months of the year mortgage refinance volume increased and purchase volume remained unchanged. In its market composite index, a measure of mortgage loan application volume, the Mortgage Banker’s Association (MBA) reported refinance volume increasing 1.8 percent over the previous month and purchase loan volume decreasing 2.7 percent over the same period.

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Sales of new single-family homes in January 2010 fell by 11.2 percent, since December 2009 according to a report released by the Census Bureau and the Department of Housing and Urban Development (HUD).

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