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HomeSales
Home Sales Surge in March, Signaling Strong Spring Sales
By Tom Diemer - Politics DailySales of existing homes jumped 6.8 percent in March, cheering analysts and suggesting a rebound in the housing market during an anticipated spring surge in buying, the National Association of Realtors reported Thursday. The organization's chief economist, Lawrence Yun, said a federal tax credit for first-time home-buyers has proven to be a "resounding success," as trends point to a "broad stabilization in home prices." Even the steady pace of home foreclosures is "being absorbed manageably" by the market, he said. The tax credit, ranging up to $8,000, is due to expire April 30, but Yun ...
Sales of Existing Homes Drop for Third Straight Month
By Tom Diemer - Politics DailyThe modest rebound in the housing market hit another bump in February as sales of existing homes fell for the third consecutive month. And that was bad news for the overall state of the U.S. economy, the AP reports. Sales of previously occupied homes dropped 0.6 percent, a slight dip but the lowest level since last July, according to the National Association of Realtors. The slow sales also drove down prices, as the median cost of homes slipped almost 2 percent from a year ago to $165,100. There was hope in the Midwest, where sales increased nearly 9 percent, but the Northeast and South ...
Home Sales Slump for Second Straight Month
By Christopher Weber - Politics DailySales of previously owned homes dropped in January for the second straight month, a trend the chief economist for the National Association of Realtors called "not encouraging." The realty group reported sales of existing houses, townhouses, and condos were down 7.2 percent to 5.05 million last month, according to The Washington Post. December saw a record 16.2 percent decline. Economist Lawrence Yun said Realtors are holding out hope the trend may reverse itself in spring, when more Americans are expected to take advantage of a recently renewed tax credit for first-time buyers and some current ...
Home Sales Jump to Highest Levels in Two Years
By David Sessions - Politics DailySeptember marked a sharp turnaround in the housing market, according to a report released Friday by the National Association of Realtors, CNN Money reports. Boosted by first-time home buyers, sales of previously owned homes rose 9.4 percent in September to the highest level since July 2007. An NAR chief economist said first-time buyers are responding to a special tax credit on their home purchase. The report shows sales were strongest in the western United States, which had a growth rate of 13 percent. ...
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