The housing market recovery stalled last month. At least temporarily. [...]
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Home resales rose 4 percent last month, according to the March Existing Home Sales report. A total of 5.1 million homes were sold on an annualized, seasonally-adjusted basis. [...] Existing Home Sales fell 10 percent last month, according to a report from the National Association of REALTORS®. [...] Existing Home Sales jumped another 6 percent in November, the report’s third month of improvement since bottoming in July. [...] It’s encouraging that first-time and investment property buyers were both outnumbered by “move-up” buyers in October; buyers that have sold their respective homes in favor of larger ones. [...] After improving 1 percent in August, New Home Sales popped another 7 percent in September. It’s no wonder homebuilder confidence is at a 5-month high. [...] “Deals” were in ample supply this summer and eager home buyers snatched them up. [...] Overall, buyers are being drawn into housing by low mortgage rates, affordable homes, and ample supply. If the August Pending Home Sales Index is foreshadowing the fall housing market, home prices appear slated to rise. [...] Sales of existing homes in recovered in August, perhaps the result of a post-tax credit normalization. [...] The number of home resales plunged by 1.4 million units in July. Home buyers may uncover opportunities for a deal. [...] |
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