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Report: Home Prices up 3.4% in June as Supply Flattens

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U.S. home-sale prices rose for the third consecutive month in June, growing 3.4 percent year over year to a median of $321,200, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. June’s price-growth rate was on par with the May rate and was down from a 5.5 percent year-over-year gain in June 2018. Only six of the 85 largest metro ...

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Trump Effect: U.S. Housing Market Outlook Hits Highest Mark in Three Years

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Trump’s economic policies have brought about solid job growth and strong household formation The latest Health of Housing Markets Report (HoHM Report) from Nationwide Economics sees increasingly positive, sustainable trends for the housing sector for at least the next year. “Economic figures from early in the year were probably negatively affected by the government shutdown as well as the impacts of higher ...

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Existing-Home Sales Rise 2.5% in May

Existing-home sales rebounded in May, recording an increase in sales for the first time in two months, according to the National Association of Realtors®. Each of the four major U.S. regions saw a growth in sales, with the Northeast experiencing the biggest surge last month. May 2019 Existing Home Sales Total existing-home sales1, https://www.nar.realtor/existing-home-sales, completed transactions that include single-family homes, townhomes, condominiums ...

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U.S. Home Affordability Drops To Lowest Level In 10 Years

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Home Prices Less Affordable Than Historic Averages In 78 Percent of Local Markets 30 Percent of Population in Markets Requiring $100,000+ in Annual Income to Buy a Home A report out Thursday shows that the U.S. home prices in the third quarter were at the least affordable level since Q3 2008 — a 10-year low. The report calculates an affordability ...

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Pending Home Sales Dip 1.8 Percent in August

Pending home sales fell slightly in August and have now decreased on an annual basis for eight straight months, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 1.8 percent to 104.2 in August from 106.1 in July. With last month’s decline, contract signings are now down 2.3 percent year-over-year. ...

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More than Six Million Homes Missing From U.S. Housing Market

Home for sale

One of the defining characteristics of today’s housing market is the lack of available inventory, and much of this scarcity can be traced back to the lack of building following the bubble’s burst. Between 1985 and 2000, there were 3.9 permits issued for single-family homes per 1,000 residents. Since 2008, that mark stands at just 1.9 permits per 1,000 people. ...

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Median Home Sale Price Reaches Nine-Year High, Sales Decline

Halfway through 2018, prices are at record highs, inventory is at record lows and home sales are trailing 2017’s pace, according to the RE/MAX National Housing Report. June sales were 5.5% lower than June 2017 in the 54 metro areas surveyed, marking the seventh consecutive month of year-over-year declines. Headed in the opposite direction, the June Median Sales Price of $258,500 was an all-time high ...

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Housing Demand Index Up 7% in May

Home for sale

Housing demand increased 7.4% in May according to the Redfin Housing Demand Index just released. The rise was driven by a 6.3 percent increase in the number of homebuyers requesting tours, and a 9.7 percent increase in the number making offers on homes from April to May. The Demand Index is based on thousands of Redfin customers requesting home tours and ...

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Homes Selling Faster despite 7.8% rise in prices

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In May, homes sold faster than at virtually any other time in the past decade, according to the latest RE/MAX National Housing Report. Low inventory and high demand in May cut Days on Market to 46, the second-lowest monthly number in the nearly 10-year history of the report. May home sales topped April sales by 14.5% and were down by 2.8% from May ...

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May Real Estate Market the Fastest on Record; Prices Up 6.3%

Home for sale

The typical home that sold in May went under contract in 34 days, according to Redfin (www.redfin.com), the next-generation real estate brokerage. May broke April’s record of 36 days, which was the fastest month Redfin had recorded going back to 2010.  Amid the speed, the national median home sale price rose to $305,600, a 6.3 percent increase from May 2017 across the 174 markets that ...

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Pending Home Sales Lose Steam in April, Decline 1.3 Percent

Home for sale

After two straight months of modest increases, pending home sales dipped in April to their third-lowest level over the past year, according to the National Association of Realtors®. All major regions saw no gain in contract activity last month. The Pending Home Sales Index,* www.nar.realtor/pending-home-sales, a forward-looking indicator based on contract signings, declined 1.3 percent to 106.4 in April from an upwardly ...

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How’s That “progressive” Deal Working Out For You?

According to the Labor Department, jobless claims for unemployment benefits surged 34,000 to 386,000.  Figures for the prior week were revised upwards to 352,000 from the 350,000 previously reported.  This makes every time since the current administration seized power that previously reported unemployment numbers were later revised upwards. Meanwhile, factory activity fell shy of expectations held by economic experts and ...

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Home Sales Follow Seasonal Trend, But Remain Higher Than a Year Ago

DENVER, Nov. 17, 2011 /PRNewswire/ — October home sales were 9.0% above sales in October last year, according to The RE/MAX Monthly Housing Report, a survey of housing data from 53 metropolitan areas. As the market settles in for the winter, an expected monthly decline in home sales from September to October registered 9.8%.  However, October is the fourth consecutive month to ...

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