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Pending Home Sales Drop In January; Weather Named as Cause

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 based [...]

Existing home sales drops in January

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 [...]

Realtor Pending Home Sales Index shows Real Estate Market Leveling off

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 [...]

December home sales plummet but 2009 finishes stronger than 2008

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 [...]

Let's play 'spin the data'

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 sales [...]

Which home improvements and remodeling projects pay off?

Dennis Norman

“The smartest home improvement investments may also be some of the least expensive”

Realtors® report that the smartest home improvement investments may also be some of the least expensive. Results from the “2009 Remodeling Cost vs. Value Report” show that small-scale exterior projects are the most profitable at resale, according to a report from [...]

'Actual' Existing home sales drop 5.2 percent in November; Up 4.2 percent from a year ago

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 [...]

Most recent homebuyers are first-time buyers

According to NAR 51 percent of recent homebuyers are first-time buyers and 39 percent of recent home sales have relied on an FHA loan

Dennis Norman

The National Association of REALTORS just released a report showing that 51 percent of the homes sold recently have been to first-time home buyers and that 39 percent [...]

Pending home sales rise for ninth consecutive month

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 [...]

Reports and headlines say home sales increased 10.1 percent in October, up 23.5 percent from a year ago; I say up 6.6 percent for the month and almost even with last year

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 [...]

Commercial Real Estate Forecast Uncertain According to NAR

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 [...]

NAR acquires technology to move forward on National Property Database

Dennis Norman

The National Association of REALTORS made a big step last week toward reaching their goal of establishing a national data base of very parcel of real property in the U.S. by acquiring technology from LPS Real Estate Group.  NAR has acquisition includes data and secured data aggregation services which NAR will use to develop [...]

Home buyer tax credit extension update; House Passes Bill...On to President for approval

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 [...]

NAR has new widget to show your listings on Facebook

Dennis Norman

The National Association of REALTORS(R) has just come out with a new widget for it’s members that allows them to easily post their listings on their Facebook page.
The widget is free to members and is quick and easy to install.  If you are a REALTOR and want to add this feature to your Facebook [...]

Home buyer tax credit update-November 2, 2009

Dennis Norman

UPDATED: 6:15 pm Central Time-

The Senate voted 85-2 this afternoon to end debate on the amendment..This is clears a procedural hurdle and will allow the bill and amendment to be voted on by the Senate, most likely on Tuesday or Wednesday….If passed by the Senate it would then need to go back [...]

Pending home sales rise for eighth consecutive month

Lawrence Yun, Chief Economist, NAR

Today the National Association of REALTORS(R) issued their Pending Home Sales Index Report for September showing pending sales in the U.S. rose again for the eighth consecutive month – marking the longest streak since since NAR began the pending home sale index in 2001.

As I have expressed previously, I’m somewhat [...]

Home buyer tax credit update-October 30, 2009

Dennis Norman

In yesterday’s update I had some rather encouraging news about the possible extension of the first-time home buyer tax credit of $8,000 that has stimulated some home buying but is set to expire on November 30th. The good news was that there is an agreement amongst the powers that be with regard to [...]

Home buyer tax credit update

Dennis Norman

I have been talking a lot lately about the first-time home buyer tax credit of $8,000 that has stimulated some home buying but is set to expire on November 30th. I have also shared the efforts by organizations such as the National Association of REALTORS, The Mortgage Bankers Associaiton, The National Association of [...]

NAR First VP Ron Phipps testifies before Congress to urge extension of home-buyer tax credits; warns of housing market freeze without credits

Dennis Norman

I think we all know by now how important the home-buyer tax credits have been for our industry, providing the only real increase in home sales that we have seen for some time.  Unfortunately, the credits are set to expire November 30th.

Ron Phipps, First Vice President, National Association of REALTORS

Last week Ron Phipps, [...]

Existing home sales for September at highest pace in over two years

Dennis Norman

Finally, some good news!

According to the latest report released today from the National Association of REALTORS(R), existing home sales in September jumped 9.4 percent to a seasonally adjusted-annual rate of 5.57 million units in September from a level of 5.09 million in August, and are 9.2 percent higher than the 5.10 million-unit pace [...]

Homebuyer Tax Credit Best Tool for Sustaining Housing Recovery; HVCC a problem, Says NAR

Dennis Norman

By: Dennis Norman

The best available tool for sustaining the still-fragile housing market is the $8,000 homebuyer tax credit, (expires November 30) and it is essential that Congress extend the credit into 2010, the National Association of Realtors® testified at a hearing of the U.S. House Small Business Committee yesterday.

NAR Regional Vice President Joseph [...]

Existing homes sales down 2.7 percent in August but up 3.4 percent from a year ago

Dennis Norman

By: Dennis Norman

According to the latest report released today from the National Association of REALTORS(R), existing home sales in August dropped 2.7 percent to a seasonally adjusted rate of 5.1 million units down from a level of 5.24 million units in July. This drop follows four-consecutive months of increases in the pace of [...]

Commercial REALTORS(R) Sales Volume Down; Leasing Volume up according to NAR

Dennis Norman

By: Dennis Norman

According to the 2009 National Association of Realtors® Commercial Member Profile Realtors® specializing in commercial real estate experienced a slowdown in sales transaction volume in 2008, but also reported an increase in commercial leasing volume.
The study’s results represent Realtors® who practice commercial real estate, roughly 81,000 of the National Association of Realtors® 1.2 [...]

REALTORS Urge Congress to Extend Homebuyer Tax Credits

Dennis Norman

By: Dennis Norman

The National Association of REALTORS®is calling upon its 1.2 million members to urge Congress to extend the home-buyer tax credit into next year.

 

According to NAR the $8,000 first-time home-buyer tax credit has brought 1.2 million new buyers into the market – 350,000 of whom would not have purchased a home without [...]

U.S. Real Estate still has international appeal; What are the most popular locations for buyers from abroad?

Dennis Norman

By: Dennis Norman

According to the National Association of REALTORS(R) (NAR) a significant share of home purchases are made by people whose primary residence is outside the U.S.  The just-released, 2009 NAR Profile of International Home Buying Activity survey stated “while the percentage of REALTORS(R) serving foreign buyers had decreased, international transactions still accounted for [...]

Home sales increase in July; sixth consecutive monthly increase in pending home sales

Lawrence Yun, Chief Economist, NAR

By: Dennis Norman

Today the National Association of REALTORS(R) issued their Pending Home Sales Index Report for July showing pending sales in the U.S. were up for the sixth consecutive month, the best streak since NAR began the pending home sale index in 2001.

Pending home sales in the U.S. for July [...]

Existing Home Sales rose 7.2 percent in July

Dennis Norman

By: Dennis Norman

More good news on housing-house buyers are coming back and the housing market is setting records!

According to the latest report released today from the National Association of REALTORS(R), existing home sales in July rose 7.2 percent to a seasonally adjusted rate of 5.24 million units up from a level of 4.89 [...]

Commercial Real Estate Slowing

Dennis Norman

By: Dennis Norman

Today the National Association of REALTORS(R) published their Commercial Leading Indicator for Brokerage Activity for the second quarter of 2009 showing a decline of 1.3 percent to an index of 101.5, down from an index of 102.8 in the first quarter.  At 101.5 the index for the second quarter of 2009 [...]

Real Estate Agents and brokers eligible for SBA loans

Charles McMillan 2009 President, NAR

By: Dennis Norman

In response to a letter from National Association of REALTORS(R) 2009 President, Charles McMillan requesting that real estate agents be eligible for SBA loans or clarification that agents are already eligible, the U.S. Small Business Administration said that  real estate agents and brokers are eligible for SBA guaranteed financial assistance.

The [...]

More good news; Home sales rise in 39 states in 2nd quarter

Dennis Norman

The good news about the real estate market keeps coming!  Don’t get too excited yet, I don’t know that the worst of it is over yet, not sure if the “fat lady has sang” yet or not, but at least the reports lately on the market have been encouraging.

According to the latest report [...]