It was a long road back, but it now appears the housing market has reached a point where fundamentals and home buyers are driving the market. RealtyTrac’s latest May U.S. Home & Foreclosure Sales Report brings good news. This report shows 24.6 percent of May’s single-family home and condo sales were all cash-based, and bank-owned sales were down 9 percent
For many years, home sellers have had to face the grim reality that many homes have been sitting on the market for months or even years without so much as a single bid or are being sold at a fraction of their value. This has left many people stuck living in homes that their family has outgrown or that they
As half of 2015 is over, it appears the residential real estate market is set to experience its best numbers since 2006, the peak year of the housing bubble. The growing job market is the driving force behind the high demand for homes. Over the last year, millions of jobs have been created, especially within the segment of people most
So what’s going on? Why are rates rising? Last week saw constant pressure on mortgage backed securities as part of a secular trend. German bund yields rose and MBS sold off as major bond traders continued to move money out of low return (but very safe) bonds. Hedge funds are done with camping money in bonds for the past two
Good news is being received by the real estate industry. April 2015 enjoyed the highest level of pending sales since 2006. The National Association of Realtors explained the Pending Home Sales Index saw a 3.4 percent increase from March 2015. This was 14 percent higher than last year and was the fourth consecutive month for an increase. April’s numbers were
Today, the real estate market is experiencing record cash sales from international buyers who are gobbling up large chunks of property. Through the first quarter of 2015, commercial real estate transactions increased by 45 percent. One of the most significant deals occurred as General Electric Company sold approximately $23 billion in assets to Wells Fargo & Co. and Blackstone Group
Optimists believe spring will be a good time for the real estate market. As reported by “The National Association of Realtors,” momentum is building, and the Pending Home Sales Index is increasing. March was the third straight month that enjoyed a positive upswing. The index is currently at its highest level since June 2013. Positive attitudes in the real estate
It appears the housing market is making a comeback. The National Association of Realtors performed research that shows formerly distressed homeowners are ready to re-enter the housing market. However, damaged credit may restrict the amount of people who are eligible to purchase real estate. Between 2006 and 2014, approximately 9.3 million homeowners were forced into foreclosure. On a positive note,
RealtyTrac, the country’s top source of comprehensive housing information, recently released an analysis of purchased properties during the first quarter of 2015. This report found monthly home payments on an average-priced home is often more economical than the monthly fair market rent on a typical three-bedroom property. Across 461 counties studied throughout the United States, fair market rent represented 28
Two of the biggest obstacles to growth in the Southern California housing market are the lack of supply and, as a result of this lack, a dearth of affordable homes. However, thanks to a recent uptick in the number of homes for sale, it looks like the housing market is in for a strong spring. Based on information from the
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