EveryJoe » home-sales

Homes Sales Up, But Below Expectations

Mark Ellis — Fri, 25 Sep 2009 20:55:17 +0000

The state of the economy, falling wages, and rising unemployment have had a dramatically negative impact on homes sales over the past year, but several factors have recently contributed to a turnaround in the home market. However, the 0.7 percent gain in home sales that was seen last month was far below what analysts on Wall Street expected.

New-home sales increased in August to 429,000, up from the 426,000 homes that were sold in July, according to statistics released by the Commerce Department. Although it was the fifth consecutive month to feature an increase in home sales, the percentage of growth was much smaller than the 3.4 percent of August 2008 and the number of homes sold was significantly under the 440,000 homes that Thomson Reuters predicted.

Every region in the United States posted a decrease in home sales except for the West region, which includes California. New-home sales throughout the West rose 12.1 percent last month compared to July, but the number is still far below the 30.4 percent gain seen in August 2008.

Image: Flickr

Post from: EveryJoe

Homes Sales Up, But Below Expectations

Home Sales up in Midwest

Mark Ellis — Sun, 26 Jul 2009 00:18:46 +0000

The National Association of Realtors has reported a surprising increase in home sales throughout the Midwest, a market that began to recover as early as the end of last year. This gain of 3 percent in the Midwest marks the very first increase since September of last year, signaling the potential for more widespread recovery.

Analysts have credited affordable home prices and a consumer awareness that prices may be at their lowest for a rebound in home sales. The Midwest, which includes twelve states, has seen prices fall an average of 9 percent from last year to now, with $157,000 standing as the median price for a home in the region.

The national median price for a home has fallen 15 percent to $181,800, creating an ideal market for buyers despite the toll that the economy has taken on many families’ incomes. Bargain hunters and investors have also aided the recovery of the housing market, snatching up deals across the country as home prices continue to plummet in many areas.

Image: Flickr

Post from: EveryJoe

Home Sales up in Midwest

United States Housing Market Improving

Stephen Kersey — Fri, 24 Jul 2009 03:45:52 +0000

A few months ago, the United States seemed to be on the brink of having a full-blown housing crisis. Now, things have started to look better for the nation’s housing market, according to the latest numbers by the National Association of Realtors.

For three straight months, houses that were previously occupied showed an improvement in sales. The number of houses on the market and sales of houses in foreclosure are both in decline — which is definitely good news.

Despite the good news, there’s also a few pessimistic experts. How will the United States housing market be affected when the $8,000 tax credit expires? How can the housing market continue to improve if job losses continue to mount?

Those two questions point to this housing market recovery being a long process. The market is unlikely to return to normalcy until unemployment levels start going back down.

That said, in the short-term, the positive statistics in the United States housing market has many investors feeling confident.

United States Housing Marketing Improving (Image: Flickr)

Post from: EveryJoe

United States Housing Market Improving