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Fri, 12/24/2010 - 16:16 by Jaspreet Virk
Here's good economic news this holiday season! The employers are laying off fewer employees and consumers are spending more.
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Mon, 10/25/2010 - 22:29 by Prince damin
Washington -- Sales of new single-family homes rose 10 percent in September compared with August, the National Association of Realtors said Monday.
Sales of single-family homes, including co-ops, condominiums and townhouses, rose to an annual rate of 4.53 million units per year from a revised 4.12 million annual figure for August.
The jump in sales beat the consensus forecast of a 4.1 percent sales increase.
Industry analysts say home sales are still recovering from a 27.2 percent June to July drop in sales that was attributed to the end of a first-time homebuyer federal tax credit.
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Mon, 10/25/2010 - 22:27 by Prince damin
New York -- U.S. markets rose quickly Monday morning after the National Association of Realtors said existing home sales rose faster than expected in September.
Economists had forecast a 4.1 percent rise in sales in the month. The NAR said sales rose 10 percent to a seasonally adjusted 4.12 million units -- a unit being a single-family home, town house, co-op or condominium.
In midmorning trading, the Dow Jones industrial average added 59.42 points, 0.53 percent, to 11,191.98. The Standard & Poor's 500 index was up 0.55 percent, 6.54, to 1,189.94. The Nasdaq composite index gained 0.54 percent, 13.51, to 2,492.90.
The benchmark 10-year Treasury note rose 15/32 to yield 2.507 percent.
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Fri, 09/03/2010 - 10:50 by Rakhi
Washington -- Pending U.S. home sales rose modestly in July, the National Association of Realtors said Thursday.
The Pending Home Sales Index, which predicts home closings one and two months down the road, rose 5.2 percent to 79.4, NAR said.
The index remains 19.1 percent below the 98.1 reading a year ago and "will remain soft in the months ahead," predicted NAR Chief Economist Lawrence Yun.
"Improved affordability should help with a recovery, but the recovery looks to be a long process," Yun said in a statement.
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Wed, 08/25/2010 - 22:26 by Jamie Anderson
The impetus to home sales provided by the federal homebuyers' tax credits evaporated faster than expected.
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Thu, 07/22/2010 - 22:24 by Inderjit Singh
ashington -- Sales of existing U.S. homes, including condominiums, co-ops and townhouses fell 5.1 percent in June, an industry trade group said Thursday.
The National Association of Realtors said sales dropped to a seasonally adjusted annual rate of 5.37 million units, down from 5.66 million units sold in May.
In spite of the month-to-month drop, sales were 9.8 percent higher than June 2009, when the annual rate stood at 4.89 million units.
Of note, June 30 was the deadline for closing deals in order to qualify for an $8,000 first-time buyer federal tax credit that has been credited with giving the sagging housing market a boost.
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Thu, 07/01/2010 - 23:19 by Inderjit Singh
Washington -- Pending U.S. home sales fell in May after three months of increases, the National Association of Realtors said Thursday.
The Pending Home Sales Index dropped "as expected," the trade group said, due to the April 30 cessation of a federal home-buyer tax credit, the trade group said.
The forward-looking economic indicator dropped 30 percent in May from April and came in 15.9 percent lower than May 2009.
The realtors' organization group said the pending home sales index declined 31.6 percent to 67 in May in the Northeast and 32.1 percent to 70.8 in the Midwest. In the South, the index dropped 33.3 percent to 82.5. In the West, the index fell 20.9 percent to 85.3.
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Thu, 05/27/2010 - 10:38 by Rakhi
Was, D.C. -- Sales of new single-family homes jumped sharply for the second consecutive month in April, the U.S. Commerce Department said Wednesday.
Sales rose 14.8 percent compared to March. A month ago, Commerce said sales surged 26.9 percent compared to February.
In April, the annual rate of home sales reached 504,000, up from a revised figure of 439,000 a month ago.
Sales in April were 47.8 percent higher than a year ago, as homebuyers rushed to get paperwork done in time for the April 30 deadline for a federal tax credit.
The department said the median sales price for new homes in April was $198,400, down from $214,000 a month ago. The average sales price for new homes was $249,500 in April, down from $258,600 in March.
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Tue, 05/04/2010 - 22:54 by Inderjit Singh
Washington -- Pending U.S. home sales rose in March, but the spring surge in home-buying may be over soon, the National Association of Realtors said Tuesday.
The Pending Home Sales Index climbed from 97.7 to 102.9, NAR said, rising 5.3 percent after an 8.3 percent month-to-month rise in February.
The forward-looking indicator was 21.1 percent higher than March 2009.
NAR chief economist Lawrence Yun said he expected the surge would fade, as a federal tax credit for home buyers ended on the last day of April.
"Clearly the home buyer tax credit has helped stabilize the market. In the months immediately following the expiration of the tax credit, we expect measurably lower sales," he said in a statement.
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Fri, 02/26/2010 - 22:06 by Inderjit Singh
Washington -- Sales of existing U.S. homes dropped in January from December, but were 11.5 percent higher than January a year ago, the National Association of Realtors said.
The NAR said sales fell 7.2 percent in January from December to a seasonally adjusted annual sales rate of 5.05 million units -- a unit being defines as a single-family home, condominium or town house.
In January, the inventory of houses on the market fell 0.5 percent to 3.27 million existing homes, a 7.8-month supply at the current pace of sales.
The national median price in the monthly survey was $164,700, unchanged from a year ago, the NAR said.
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Tue, 01/05/2010 - 22:12 by Inderjit Singh
Washington -- Pending U.S. home sales dropped as expected in November, ending a nine-month upward trend, but ending it sharply, the National Association of Realtors said.
The nine-month streak was the longest upswing since the data was first compiled in 2001.
Economists had expected a 2 percent drop, however. Instead, the monthly report showed a 16 percent drop in November from October.
NAR Chief Economist Lawrence Yun said, "it will be at least early spring before we see notable gains in sales activity, as home buyers respond to the recently extended and expanded (federal) tax credit."
"We expect another surge in the spring ... before the tax credit expires," he said.
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Sun, 10/25/2009 - 15:43 by Jaspreet Virk
New York, October 25 -- The government’s tax credit for the qualified homebuyers seems to have worked well for the nation’s real estate sector, which has been hit hardest by recession.
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