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By Dennis Norman, on September 2nd, 2010
Dennis Norman
After hitting all-time low in June, pending home sales increase 5.2 percent in July
The National Association of REALTORS Pending Home Sales Index for July shows an increase of 5.2 percent in the index in July (seasonally adjusted) which is 19.1 percent below July 2009.
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By Dennis Norman, on August 24th, 2010
Dennis Norman
Beginning last November I have written several articles about the “sugar-rush” effect of tax credits and other stimulus on the housing market and voicing my concern that these things are short lived (like a sugar rush on a child) and after the sugar wears off there is a crash….Well, as expected, here it [...]
By Dennis Norman, on August 3rd, 2010
Dennis Norman
NAR Pending Home Sales Index at Lowest Level Since Index Began in 2001
At dropping 30 percent in May as a result of the rush to buy a home before the April 30th tax credit deadline, the National Association of REALTORS Pending Home Sales Index for June shows a further decline of 2.6 percent in [...]
By Dennis Norman, on July 29th, 2010
Dennis Norman
This week I attended an event at the St. Louis Association of REALTORS® in which Lawrence Yun, Chief Economist for the National Association of REALTORS® was the featured speaker and gave his take on the housing market as well as his housing market outlook.
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By Dennis Norman, on July 22nd, 2010
Dennis Norman
Last month I said that I expected to see some elevated numbers in the existing home sales report for May and June since this report would reflect the actual closing of the home purchases from buyers that raced to buy before the April 30th home-buyer tax credit deadline. Even though Congress has [...]
By Dennis Norman, on July 12th, 2010
Dennis Norman
Where and how people search for their next home has changed dramatically over the past decade and we continue to see changes in the behavior of home-buyers constantly. Unfortunately I talk to many investors that are not keeping up with the times and, particularly if they are not using a real estate agent [...]
By Dennis Norman, on July 8th, 2010
Dennis Norman
I may be getting desperate to find something good to write about with regard to the Housing Market, but nonetheless I found some good news today! According to a report titled “Foreign Investment in U.S. Real Estate” that was released recently by the National Association of REALTORS®, investment in residential real estate [...]
By Dennis Norman, on July 1st, 2010
Dennis Norman
There was no question in my mind that home sales would plummet after the April 30th deadline to buy a home and qualify for the home-buyer tax credit passed, the only question was how bad? Today the National Association of REALTORS released it’s Pending Home Sales Index for May showing a decrease of [...]
By Dennis Norman, on June 22nd, 2010
Dennis Norman
May and June Sales Expected to Remain Elevated as Buyers Rush to Close By June 30th Deadline for Tax Credits.
The deadline to buy a home and qualify for the home-buyer tax credit was April 30th so it’s not surprising we saw pending home-sales increase dramatically in March and April as buyers rushed to [...]
By Dennis Norman, on June 2nd, 2010
Dennis Norman
Today the National Association of REALTORS released it’s Pending Home Sales Index for April showing an increase of 6.0 percent in the index from March (seasonally adjusted) and a whopping 22.4 percent increase from April 2009. This comes on the heels of a 5.3 percent increase in March and an 8.3 [...]
By Dennis Norman, on May 24th, 2010
Dennis Norman
Sales increased for second consecutive month-
With the home-buyer tax credits ending April 30th, it’s not surprising that we saw an increase of home sales in March, and now in April, as buyers rushed to buy before the deadline to have a congract of April 30, 2010. According to the latest report from [...]
By Dennis Norman, on May 12th, 2010
Dennis Norman
According to a report issued by the National Association of REALTORS, a growing number of metropolitan areas are experiencing price gains from a year ago, while most states have seen healthy gains in home sales from the first quarter of 2009.
Highlights from the Metro report for the first quarter of 2010:
91 out of [...]
By Dennis Norman, on May 4th, 2010
Dennis Norman
Today the National Association of REALTORS released it’s Pending Home Sales Index for March showing an increase of 5.3 percent in the index from February (seasonally adjusted) and a whopping 21.1 percent increase from March 2009. This follows an 8.3 percent increase in February so it is definitely creating a nice [...]
By Dennis Norman, on April 22nd, 2010
Dennis Norman
According to the latest report from the National Association of REALTORS(R), existing home sales in the US in March increased 6.8 percent to a seasonally adjusted-annual rate of 5.35 million units in March from a revised level of 5.01 million units in February, and increased 16.1 percent from a year ago when the [...]
By Dennis Norman, on April 9th, 2010
By Dennis Norman, on April 5th, 2010
Dennis Norman
Today the National Association of REALTORS released it’s February Pending Home Sales Index showing a increase of 8.2 percent (seasonally adjusted) in the index from January and a 17.3 percent increase from last year.
Here are highlights from the report:
January”s pending home sales index (seasonally adjusted) was 97.6 (the index is based upon 100.0 [...]
By Dennis Norman, on March 31st, 2010
Dennis Norman
According to a Survey conducted by the National Association of REALTORS (NAR), investment-home sales dropped 15.9 percent in 2009 to 940,000 sales from 1,120,000 in 2008. For comparison purposes, primary residence home sales rose 7.1 percent in the same period.
NAR Chief Economist Lawrence Yun said, “Investment buyers primarily seek rental income, with six in 10 [...]
By Dennis Norman, on March 24th, 2010
Dennis Norman
According to the latest report from the National Association of REALTORS(R), existing home sales in the US in February decreased 0.6 percent to a seasonally adjusted-annual rate of 5.02 million units in February from a revised level of 5.50 million units in January, however this does represent an increase of 7.0 percent from [...]
By Dennis Norman, on March 4th, 2010
Dennis Norman
Today the National Association of REALTORS released it’s January Pending Home Sales Index showing a decrease of 7.6 percent in the index from December, 2009 to January 2010 (seasonally adjusted) and a 12.3 percent increase from last year.
Here are highlights from the report:
January”s pending home sales index (seasonally adjusted) was 90.4 (the index is [...]
By Dennis Norman, on February 26th, 2010
Dennis Norman
According to the latest report from the National Association of REALTORS(R), existing home sales in January decreased 7.2 percent to a seasonally adjusted-annual rate of 5.05 million units in January from a level of 5.44 million units in December, however this does represent an increase over a year ago when the rate was [...]
By Dennis Norman, on February 2nd, 2010
Dennis Norman
Today the National Association of REALTORS released it’s December Pending Home Sales Index showing an increase of 1.0 percent in the index from November (seasonally adjusted) and a 10.9 percent increase from last year.
Here are highlights from the report:
December”s pending home sales index (seasonally adjusted) was 96.6 (the index is based upon [...]
By Dennis Norman, on January 25th, 2010
Dennis Norman
NAR’s “seasonally-adjusted” numbers show sales down 16.7 percent for the month…2009 finishes with 5,156,000 homes sold…My projection for the year was 5,143,000 homes….missed it by 13,000 (2/10 of 1 percent) hmm..not bad for a “non-economist” :)
According to the latest report from the National Association of REALTORS(R), existing home sales in December decreased 16.7 [...]
By Dennis Norman, on January 5th, 2010
Dennis Norman
Or should I say “It’s all in the headline”?
So what am I talking about? The pending home sales data that was released by the National Association of REALTORS today, of course. Actually I could be referring to any data on the housing market whether new home sales, foreclosure rates, interest rates, existing home [...]
By Dennis Norman, on December 24th, 2009
Dennis Norman
NAR’s “seasonally-adjusted” numbers show sales up 7.4 percent for the month…”actual” numbers show a 5.2 percent decrease….Sales up 44 percent from last year, lest we not forgot last year was the worst in over 10 years…
According to the latest report from the National Association of REALTORS(R), existing home sales in November increased 7.4 [...]
By Dennis Norman, on December 1st, 2009
Lawrence Yun, Chief Economist, NAR
Is the increase real or have the tax-credits created an “artificial” market that cannot be sustained?
Today the National Association of REALTORS(R) issued their Pending Home Sales Index Report for October showing pending sales in the U.S. rose again for the ninth consecutive month – marking the longest streak since since [...]
By Dennis Norman, on November 23rd, 2009
Dennis Norman
National Association of REALTORS Report:
According to the latest report released today from the National Association of REALTORS(R), existing home sales in October jumped 10.1 percent to a seasonally adjusted-annual rate of 6.10 million units in October from a revised level of 5.54 million in September, and are 23.5 percent higher than the 4.94 [...]
By Dennis Norman, on November 22nd, 2009
The recent deep economic downturn has had a pronounced impact on commercial real estate sectors, but credit availability is the big unknown that will determine how soon commercial markets recover, according to the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said some initial movements earlier this week in commercial mortgage-backed securities are encouraging. “The [...]
By admin, on November 15th, 2009
A severe ongoing credit crunch in commercial real estate lending is hampering recovery, according to a commercial market update at the 2009 REALTORS® Conference & Expo. NAR Chief Economist Lawrence Yun shared insights into the commercial markets and the current lending environment during the “Economic Issues and Commercial Real Estate Business Trends Forum” here today.
Yun [...]
By admin, on November 14th, 2009
Reduced home prices and the first-time home buyer tax credit have helped dramatically boost the lower end housing market, according to a residential market update yesterday at the 2009 REALTORS® Conference & Expo.
Lawrence Yun, National Association of Realtors® chief economist, said home sales continue to be dominated by lower priced homes. In fact, NAR data [...]
By Dennis Norman, on November 5th, 2009
Dennis Norman
UPDATE 11/06/09 5:14 p.m. – Thanks to Denis T who was commenting on this post, click here to go to the IRS site with information on the new tax credits.
UPDATE 11/06/09 1:00 p.m. – I just heard that a short while ago President Obama signed the bill into law. IT’S OFFICIAL! So if you are in [...]
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