residential real estate

New Home Sales Increase 1.5% for March 2013

March New Residential Single Family Home Sales increased 1.5%, or 417,000 annualized sales.   New Single Family Housing inventory is at a 4.4 month supply.  New single family home sales are now 18.5% above March 2012 levels, but this figure has a ±17.2% margin of error.   A year ago new home sales were 352,000.

Existing Home Sales Decline 0.6% for March 2013

NAR reported their March 2013 Existing Home Sales.  Existing home sales decreased -0.6% from last month and inventories increased to a still very tight 4.7 months of supply.   Existing homes sales have increased 10.3% from a year ago.    Volume was 4.92 million against February's 4.95 million, annualized existing home sales.

Is the Fed's Quantitative Easing Pushing Up Home Prices?

Is the Federal Reserve's quantitative easing over inflating housing prices?  According to one Fed Official they aren't  Yet the Federal Reserve is buying 50% of mortgage backed securities, keeping mortgage interest rates at record lows and affecting pricing on mortgage backed securities themselves.

 

Existing Home Sales Increase 0.8% for February 2013

NAR reported their February 2013 Existing Home Sales.  Existing home sales increased 0.8% from last month and inventories increased to a still very tight 4.7 months of supply.   Existing homes sales have increased 10.2% from a year ago.    Volume was 4.98 million against January's 4.94 million, annualized existing home sales.

New Home Sales Decline by -7.3% for December 2012

December New Residential Single Family Home Sales decreased by -7.3%, or 369,000 annualized sales. The decline wipes out November's revised 9.3% increase. As we've repeatedly cautioned, beware of this report for most months the change in sales is inside the statistical margin of error and will be revised.

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