31 Dec 2013
By Mark Feder
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New Home Sales Show Healthy Year-Over-Year Increase

Housing Analysis
The holiday season and winter weather slowed home sales in November. Last week, the NAR reported that sales of existing homes had slumped to their lowest level in nearly a year, but this was not unexpected.   Short supplies of available homes and rising mortgage rates have increased pent-up demand for homes have kept some buyers on the sidelines. Improvement In The Labor Market 4.90 existing homes were sold in November; this was lower than the 5.13 million existing homes sold in October, as well as lower than expectations of 5.00 million existing home sales in November. Existing home sales…
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18 Dec 2013
By Mark Feder
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Housing Market Index Shows Builder Confidence Up 23 Percent Year-Over-Year

Housing Analysis
According to the National Association of Homebuilders/Wells Fargo Homebuilders Market Index for December, builder confidence recovered in with a reading of 58. This surpassed both expectations of 56 and last month's reading of 54. Analysts noted that builder confidence has steadied after the government shutdown. December's reading was the highest in four months. Dave Crowe, NAHB chief economist, said that his organization was expecting a "gradual improvement in the housing recovery" in 2014. Any reading above 50 indicates that more builders are confident about overall housing market conditions than not. Builder Confidence - Highest Reading Since 2005 Pent-up demand for…
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03 Dec 2013
By Mark Feder
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Case Shiller Price Index Shows A Spike In Home Prices In The West

Housing Analysis
According to the S&P Case-Shiller 10-and 20-City Housing Market Indices for September, home prices grew at an average of 13.30 percent year-over-year and achieved the highest growth rate for home prices since February 2006. On a month-to month basis, home prices are slowing in most areas with 19 cities included in the S&P 20-City Housing Market Index showing lower rates of growth in home prices. September's average month-to-month growth rate was 1.0 percent for the 20-City HMI as compared to 0.90 percent in August, and 1.90 percent posted earlier in 2013. Home prices increased by 0.70 percent in September for…
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26 Nov 2013
By Mark Feder
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Get The Low Down On Pending And Existing Home Sales This Month

Housing Analysis
The National Association of REALTORS reported Monday that pending home sales dropped by -0.60 percent in October after falling at a revised rate of -4.60 percent in September. According to Lawrence Yun, chief economist for NAR, 17 percent of real estate agents reported delays in loan closings due to the government shutdown in early October. Lenders were unable to verify borrower income through the IRS, which was closed during the shutdown. October was the fifth consecutive month with fewer pending home sales reported. Homeowners who owe more on their mortgages than their homes are waiting to sell, and recent spikes…
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