Home Sales Drop
Home Sales Drop
The National Association of Realtors reported today, that existing home sales drop for the 10th month in a row.
In November, existing home sales dropped to a two and a half year low. Read more 
San Diego Existing Home Sales jump
San Diego Existing Home Sales
San Diego County detached home sales for January 2017 where the highest since 2013! When compared to January 2016, the San Diego County detached home sales were up just slightly by 49 homes.
The real big news for existing home sales in January was that on a nationwide basis, they hit a 10 year high!
The National Association of Realtors (N.A.R.) reported this week that existing home sales jumped 3.3 percent to a seasonally adjusted annual rate of 5.69 million units last month. That was the highest level since February 2007!
Not only in San Diego, but for most of the major regional metropolitan areas, there’s been a persistent shortage of available homes for sale. It is this lack of housing inventory that many in the real estate industry believe is the major cause of the escalating home prices even in the face of increasing mortgage rates. Read more
Home Sales Jump
Existing Home Sales Jump
California Real Estate
The National Association of Realtors reported today that existing home sales increased 4.7 percent to an annual rate of 5.55 million units.
This September home resale increase was more than expected and the second highest monthly sales pace since February 2007!
Personally because of seasonal factors I would expect housing prices to remain somewhat stagnant or actually soften the little from now through the next four or five months. So, for those of you who have been thinking about buying your first home, or perhaps buying a move-up home, from now through about March is usually the best time to purchase a home. Read more
Existing Home Sales Higher
Existing home sales up for 3rd. consecutive month in July
San Diego real estate pent up demand
Here in the Western region, existing home sales rose 3.2 percent to an annual rate of 1.28 million in July, and are 11.3 percent above a year ago. The median price in the West was $327,400, which is 8.4 percent above July 2014.
Existing home sales in the South increased 4.1 percent to an annual rate of 2.29 million in July, and are 9.6 percent above July 2014. The median price in the South was $203,500, up 7.0 percent from a year ago.
The Northeast was the only region to show a home sales drop for July. The Northeast decreased 2.8 percent to an annual rate of 700,000, but are still 9.4 percent above a year ago. The median price in the Northeast was $277,200, which is 1.3 percent higher than July 2014. In the Midwest, existing-home sales were at an annual rate of 1.32 million in July, unchanged from June and 10.9 percent above July 2014. The median price in the Midwest was $186,500, up 6.6 percent from a year ago. Read more
Home Sales Fall
Home sales
home sales
The National Association of Realtors just released a report today showing that existing home sales fell 3% in September. This puts the existing home sales figures on track to at least match last year’s sales which were the worst in the last past 13 years.the good news in this report, was that even though existing home sales were down for September on a month-to-month basis when one compares the home sales on a yearly basis, the September figures were actually ahead by 11.3%! Read more
Existing Home Sales Take Huge Drop
The National Association of Realtors recently reported that contracts signed to buy existing homes dropped down month over month by 11.6%.  This means that the number of homes expected to close..the best predictor of the future health of the real estate market…are showing very dire signs.
Year over Year (April 2010 vs April 2011) pending home sales are down 26.5%. Anyone still need proof that real estate is in a double dip? Read more
New Home Sales Drop 36.5%
home sales
Today the Commerce Department reported new home sales tumbled 12.6 percent to a seasonally adjusted 284,000 unit annual rate after a downwardly revised 325,000-unit pace in December. But, the big news in this report was a 36.5 percent drop in new home sales in the West.
The report showed that for January there were 188,000 new homes available for sale, the lowest since December 1967. The new home sales for January were down by 18.6 percent compared to a year ago.
Now from the ‘It’s always a good time to buy real estate crowd’ National Association of Realtors today, released a separate report that showed existing home sales in the U.S. rose for the third consecutive month in January.
The existing home sales rose 2.7 percent in January to an annual rate of 5.36 million. Many had expected the existing home sales to have also been down in January.
San Diego condominium sales
Pending Sales of Existing Homes
real estate market
Pending sales of U.S. existing houses jumped by a record 10 percent in October in three of four regions tracked. Three of four U.S. regions saw an increase, including gains of 27 percent in the Midwest, 20 percent in the Northeast and 7.1 percent in the South. But, purchases fell 0.4 percent here in the West.
Lawrence Yun, NAR’s chief economist, said: “The housing market clearly is in a recovery phase and will be uneven at times, but the improving job market and consequential boost to household formation will help the recovery process going into 2011, but activity needs to improve further to reach healthy, sustainable levels.â€
Also, the Federal Reserve said in its Beige Book report “Housing markets remain depressed, with several Districts reporting further weakening during the past six weeks.â€
So, the real question is will the increasing home sales in other area of the country, pull up home sales here in the West.
California short sales
Pending Home Sales Increase
home sales
The National Association of Realtors reported that its seasonally adjusted index for existing home sales rose 5.2 percent in July vs. June.
But, don’t start to jump up & down yet, because the index was still down 19 percent from the same month last year. June’s reading was the lowest on records dating to 2001. Read more
Existing Home Sales Fall 27.2%
home sales
Existing home sales in the month of July fell by more than economists had anticipated, according to a report released this morning by the National Association of Realtors.
What is surprising is that they say economists were surprised by the news.