Blog Archives

New-Home Sales Still Weighed Down

July new-home sales were still weighed down, dropping 1.7 percent to 627,000, according to the Commerce Department. Inventory in July was 309,000, representing 5.9-months’ supply, and the median price was $328,700. “Although this month marks the lowest sales pace since last October, we continue to see solid housing demand due to economic strengthening and positive […]

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Homes by the Millions ‘Missing’ Thanks to Underbuilding

With building halted in the recession and construction at insufficient levels since, there is a 6.3 million deficit in the housing stock, according to an analysis newly released by Zillow. From 2008 on, there have been 1.9 approved building permits (single-family) per 1,000 people—but, historically, the number has been 3.9. According to the analysis, if […]

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Inventory: Is the Drought Easing?

When it comes to the housing market, the conversation has been dominated by pricey properties and short supply—but, under the radar, there has been an improvement in inventory, according to realtor.com®’s recently released July 2018 Monthly Housing Trend Report. The easing, however, is not at the entry level, but in the high-priced tier. In July, […]

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Contracts Flicker in June, but Pending Sales Still Underwhelm Year-Over-Year

With an 0.9 percent gain month-over-month, June pending sales slightly sparked, according to the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI)—but, on an annual basis, contracts still underwhelmed, down 2.5 percent. From May to June, activity increased in all of the regions in the U.S.: 0.5 percent in the Midwest; 1.4 percent […]

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Existing-Home Sales Slip, but Inventory Stirs

Barely budging against imbalanced inventory, existing-home sales slipped at the start of summer, the National Association of REALTORS® (NAR) reports. Activity in June declined 0.6 percent to 5.38 million, down 2.2 percent from the prior year; however, inventory increased 4.3 percent to 1.95 million, and is 0.5 percent higher than the prior year—the first increase […]

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Builder Confidence Healthy in July

Builder confidence is healthy, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The Index reading is 68; an above-50 reading indicates more builders have a positive outlook than a negative one. “Consumer demand for single-family homes is holding strong this summer, buoyed by steady job growth, income gains […]

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What Do You Do When Inventory’s This Low? Innovate

From the beginning, Simon Chen has abided by a clear credo: to enhance, not replace. “It’s all about using technology in the right way to make the agent that much more productive,” Chen, CEO and president of ERA Real Estate, says. “The focus for us is to use technology as an enabler, and less as […]

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