Existing-Home Sales Reach Decade High

Existing-home sales in January reached their fastest pace in nearly a decade, with all major regions except the Midwest posting gains last month, the National Association of REALTORS® reports.

Total existing-home sales—completed transactions that include single-family homes, townhomes, condos, and co-ops—rose 3.3 percent to a seasonally adjusted annual rate of 5.69 million in January. That’s 3.8 percent higher than a year ago and marks the strongest month since February 2007, according to the NAR chief economist Lawrence Yun.

The REALTORS® Affordability Distribution Curve and Score, a new measurement of homebuying activity created by NAR and realtor.com®, revealed that the combination of higher mortgage rates and home prices made active listings less affordable for households in more than half of all states last month.

Source: National Association of REALTORS®

 

‘Short Sales Fall Sharply’ as Home Prices Rise!

Short sales are on the decline, as home prices inch up and more home owners stay current on their mortgages. Daren Blomquist, vice president at RealtyTrac, says short sales started to trend lower in the second half of 2013.

Four percent of December sales were short sales, selling for an average discount of 13 percent below market value, according to the National Association of REALTORS®’ latest existing-home sales report.

Overall, distressed homes — which includes both foreclosures and short sales — accounted for 14 percent of sales in December, unchanged from November but down from 24 percent from December 2012, NAR’s data shows.

Source: REALTOR® Magazine.   More at:www.houselogic.com and http://retradio.com

Existing-Home Sales Continue to Climb!

The latest monthly data shows total existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, increased 4.0 percent to a seasonally adjusted annual rate of 4.42 million in November from 4.25 million in October, and are 12.2 percent above the 3.94 million-unit pace in November 2010.

Full article at: http://bit.ly/trTuv9 via @AddThis

More news from Placerville and the El Dorado, Placer, Amador or Sacramento Counties regions of California at: www.sierraproperties.com or www.dougandbudzeller.com