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Today's Top Real Estate News
Provided by Inman News
_______________________________________________________________________
Home Sales Projected to Fluctuate Narrowly With a Gradual Upturn
By Walter Molony, Copyright www.Realtor.org
WASHINGTON, June 06, 2007 - Home sales are projected to move in a relatively narrow range with a gradual upturn becoming more pronounced by the end of the year, according to the latest forecast (PDF 136k) by the National Association of Realtors®.
Lawrence Yun, NAR senior economist, said the market is relatively soft. “Overall housing levels are historically strong, but sales remain sluggish compared to the recent boom,” he said. “Home sales will probably fluctuate in a narrow range in the short run, but gradually trend upward with improving activity by the end of the year. It’s important to keep in mind that all real estate is local, and many markets are expected to have higher sales and strengthening prices during the second half of this year.”
Existing-home sales are projected to total 6.18 million in 2007 and 6.41 million next year, in contrast with 6.48 million in 2006. New-home sales are forecast at 860,000 this year and 901,000 in 2008, down from 1.05 million last year. Housing starts are likely to total 1.43 million units in 2007 and 1.49 million next year, below the 1.80 million recorded in 2006.. . .click here for full story
Pending Home Sales Index Shows Market May Be Stabilizing
By Walter Molomy, Copyright www.Realtor.org
WASHINGTON, June 01, 2007 - A forward-looking indicator based on pending home sales shows the housing market could edge down but appears to be in the process of leveling out, according to the National Association of Realtors®.
The Pending Home Sales Index*, based on contracts signed in April, stood at 101.4, down 3.2 percent from an upwardly revised March reading of 104.8, and is 10.2 percent lower than April 2006 when it registered 112.9. The revised March index was 10.0 percent below a year earlier.
Lawrence Yun, NAR senior economist, said the current index appears to be a fair representation of overall housing market conditions. “It looks like we may be leaving a period of market disruptions, and for the past two months the pending home sales index has been similar in year-ago comparisons, which means home sales might ease but should be fairly stable in the months ahead,” he said.. . .click here for full story
Tighter Lending Standards Affect April Existing-Home Sales
By Walter Molony, Copyright www.Realtor.org
WASHINGTON, May 25, 2007 - Total existing-home sales including single-family, townhomes, condominiums and co-ops fell 2.6 percent to a seasonally adjusted annual rate1 of 5.99 million units in April from an upwardly revised level of 6.15 million in March, and are 10.7 percent lower than the 6.71 million-unit pace in April 2006.
Lawrence Yun, NAR senior economist, isn’t surprised. “We’ve been anticipating slower home sales because many subprime loan products are no longer available,” he said. “In addition, increased scrutiny by lenders is stopping risky mortgage origination, which is good for both consumers and the lending community. Fortunately, a wide availability of conventional mortgage products and the 4.5 million jobs created over the past 24 months will help to stabilize the market going forward.”
The national median existing-home price(2) for all housing types was $220,900 in April, down 0.8 percent from April 2006 when the median was $222,600. The median is a typical market price where half of the homes sold for more and half sold for less, but there is a downward skew in the current national comparison because sales have shifted away from many high-cost areas during the last year. . . .click here for full story
Where the Living Is Easy
For years, we’ve heard that folks from the Northeast were fleeing to the Sunbelt. But five Northeastern states were rated among America’s “most livable” places in the book State Rankings 2006 (Morgan Quitno Press), based on 44 factors, including income, education and job growth.
The Top 10:
1. New Hampshire
2. Minnesota
3. Iowa
4. Vermont
5. New Jersey
6. Wyoming
7. Massachusetts
8. Virginia
9. Nebraska
10. Connecticut
By Lyric Wallwork Winik
Published: December 24, 2006
Women Take The Plunge in Buying Real Estate
No Longer Waiting For Husbands, Women Are Changing The Housing Market
NEW YORK, March 6, 2006
(CBS) In a trend that is changing the landscape of the real estate market, single women are becoming homeowners at a rate never seen before.
It's a trend that is reversing the traditional pattern, in which women wait to get married before taking the plunge into the housing market.
Mariela Azcuy is 29 years old and single. Three months ago, she gave up her rented apartment in New York City and bought her very own one bedroom. She needed a five-year adjustable rate and 30-year fixed rate mortgage to afford it. But the financial burden doesn't scare her. She sees it as an accomplishment. . . .click here for full story
Want to be a Westside Landlord?
By MARK HAYWARD
Union Leader Staff
MANCHESTER – There are 60 multi-unit apartment buildings for sale on the West Side, and in the coming weeks, every tenant in those buildings will be getting a letter from Manchester Neighborhood Housing Services.
The letter will encourage the tenant to become the building's next landlord.
The letters are part of a push under way by Neighborhood Housing Services to put as many West Side apartment buildings into the hands of resident landlords, hoping owner-occupied properties will cure emerging problems of crime and neighborhood blight.. . .click here for full story
Find Community Information On: Allenstown, NH Alton, NH Amherst, NH Antrim, NH Auburn, NH Bedford, NH Belmont, NH Boscawen, NH Bow, NH Candia, NH Canterbury, NH Chester, NH Chichester, NH Concord, NH Deerfield, NH Deering, NH Derry, NH Dunbarton, NH Epsom, NH Francestown, NH Franklin, NH Fremont, NH Goffstown, NH Greenfield, NH Hampstead, NH Hampton Falls, NH Hampton, NH Hancock, NH Henniker, NH Hillsborough, NH Hollis, NH Hooksett, NH Hopkinton, NH Hudson, NH Keene, NH Laconia, NH Litchfield, NH Londonderry, NH Loudon, NH Lyndeborough, NH Manchester, NH Merrimack, NH Milford, NH Mont Vernon, NH Nashua, NH New Boston, NH Northfield, NH North Hampton, NH Northwood, NH Nottingham, NH Pelham, NH Pembroke, NH Peterborough, NH Pittsfield, NH Plymouth, NH Portsmouth, NH Raymond, NH Salem, NH Sandown, NH Stratham, NH Tilton, NH Warner, NH Weare, NH Webster, NH Wilton, NH Windham, NH |
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