Home purchases now made primarily by current homeowners

According to an article on DSNews.com, investors are no longer buying as much of the real estate inventory–but instead, current homeowners are. HousePulse attributes this change to the rising home prices and decrease in distressed inventory; home purchases from investors are now at 19.7 percent, down from 23.1 percent. First-time homebuyers had just a slight …

Continue reading ‘Home purchases now made primarily by current homeowners’ »

Existing-home sales near 5-year high

Existing-home sales, prices and inventory saw dramatic changes in 2012 reminiscent of the housing boom, statistics released by the NATIONAL ASSOCIATION OF REALTORS®. At 4.65 million units, 2012 existing-home sales were up 9.2 percent from 2011, according to NAR’s preliminary totals for the year. That would be the highest volume since 2007, when 5.03 million …

Continue reading ‘Existing-home sales near 5-year high’ »

November Pending Home Sales Index at 31-Month High

The Pending Home Sales Index (PHSI) increased for the third straight month in November, improving 1.7 percent to 106.4, the National Association of Realtors reported Friday. Economists had expected a slightly fast, 1.8 percent increase to 106.7. The index, the NAR said, is at its highest level since April 2010. The index for October was …

Continue reading ‘November Pending Home Sales Index at 31-Month High’ »

Shrinking Supply of Distressed Homes Makes Room for Homebuilding

“A steady drop in distressed home sales may spell a better future for builders, Capital Economics analyst and property economist Paul Diggle says.  In a US Housing Market Update released by the firm, Diggle notes that while “a substantial overhang of properties still in the shadow inventory” will keep distressed sellers in the market, the …

Continue reading ‘Shrinking Supply of Distressed Homes Makes Room for Homebuilding’ »