Pending home sales inched back 0.5 percent in May, falling on an annualized basis for the fifth straight month, according to NAR. A decline in contract activity in the South offset gains in the Northeast, Midwest and West. Lawrence Yun, NAR chief economist, says this year’s spring buying season did not meet market expectations. “Pending… Continue Reading Pending Home Sales See Modest Decrease in May
NAR released a summary of pending home sales data showing that May’s pending home sales pace was down 0.5 percent last month and fell 2.2 percent from a year ago. Pending sales represent homes that have a signed contract to purchase on them but have yet to close. They tend to lead existing-home Sales data… Continue Reading May 2018 Pending Home Sales
The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s Case-Shiller National Home Price Index report: “Home price growth remains strong across the country as reflected in the Case-Shiller Home Price Index, with a 6.4 percent gain from a year ago. The ongoing housing shortage has been pushing up home prices well above… Continue Reading Instant reaction: NAR’s Lawrence Yun on Case-Shiller
The results are in! We have the latest on what outdoor remodeling projects give homeowners the greatest satisfaction, according to the new 2018 Remodeling Impact Report: Outdoor Features. First, the top two projects that scored a perfect 10 on the Joy Score were adding a fire feature, such as a fire pit to the backyard,… Continue Reading Most Beloved Outdoor Remodeling Projects for 2018
In a monthly survey of REALTORS®, respondents are asked “Compared to the same month last year, how would you rate the past month’s traffic in neighborhood(s) or area(s) where you make most of your sales?” Respondents rate buyer traffic as “Stronger” (100), “Stable” (50), or “Weaker” (0), and the responses are compiled into a diffusion… Continue Reading Population and Employment Growth Fuel Homebuying in the West and South States
NAR released a summary of existing-home sales data showing that housing market activity this May fell 0.4 percent from last month and dropped 3.0 percent from last year. May’s existing-home sales reached 5.43 million seasonally adjusted annual rate. The national median existing-home price for all housing types was $264,800 in May, up 4.9 percent from… Continue Reading May 2018 Existing-Home Sales
By Melissa Dittmann Tracey, REALTOR® Magazine We’ve seen brass fixtures gradually coming back over the last few years, and the trend is only getting bigger. Golden brass tones can warm up some of your décor. However, after being inundated with silver finishes–like chrome and stainless steel–over the last few years, some still consider brass as… Continue Reading Hot Home Trend: Bringing Back the Brass
Technology, architecture, and food. Finally, the only barrier between us and owning a yacht has been resolved. The Rustbelt is finding new purpose. Keep Portland Weird or Keep Portland Safe? Meh, you can have both. Darren Stone/flickr/2011 No wonder it’s such a happy place — no mosquitoes! Now you don’t have to travel to Arizona… Continue Reading What We’re Reading: June 18-22
Best practices for extending the closing date in a residential deal on SCR310/300 forms can be read in this article. Because parties sometimes desire to extend the closing date for a variety of reasons and because at the end of that extension when the closing still has not occurred, the parties often argue if the… Continue Reading Extending the Closing Date
The REALTORS® Confidence Index (RCI) survey[1] gathers monthly information from REALTORS® about local real estate market conditions, characteristics of buyers and sellers, and issues affecting homeownership and real estate transactions.[2] This report presents key results about market transactions from May 2018. View and download the full report here. Market Conditions and Expectations The REALTORS® Buyer… Continue Reading REALTORS® Confidence Index Survey: May 2018 Highlights