Items Tagged with 'Existing home sales'

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Existing home sales manage to increase two months straight

Overcomes low inventory, rising home prices
Last month's existing home sales marked a real rebound in sales after choppiness in activity this year from unevenness in the rate of new listings coming onto the market. Turns out, existing homes sales managed to do it again, moving higher for the second consecutive month despite rising home prices and low housing inventory.
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Despite odds, existing-home sales on track to best year in a decade

NAR forecast for 2016
The positive recent news for existing-home sales is predicted to last through the whole year, meaning 2016 could the best year in a decade. Lawrence Yun, chief economist of the National Association of Realtors, presented his strong outlook for 2016 at this year's Realtors Legislative Meetings & Trade Expo. Here's more of why Yun is so bullish.
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Existing home sales rebound 5.1% in March

More than 40% of homes sold in less than a month
Existing home sales rose in March, as buyers pushed past "depressed inventory levels and steady price growth" to close on a home. The strength of the market is built on the performance of the mid-priced markets, as sales are softer at the very low and very high ends of the market.
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Ten-X: Existing-home sales likely to decrease in February

Still shows increase from last year
Now that the temporary market setbacks brought on by the implementation of the CFPB's Know Before You Owe rules have mostly passed, the latest numbers for existing-home sales indicate that housing is starting off the year on solid ground. However, this doesn't mean that the year won't come with some challenges.
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Existing-home sales start 2016 at a six-month high

Housing inventory down 2.2% from last year
While existing-home sales started the year off at the highest annual rate in six months, a lack of housing supply continues to hamper growth. Spring is less than a month away, and total housing inventory is 2.2% lower than a year ago.
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New home sales beat expectations, rise 10.8%

Fastest pace since February 2015
New home sales kept pace with previous strong economic housing news this month, except its rise isn’t conditional on TRID. In fact, new home sales rose significantly more than the 2.0% expected, rising from 491,000 to a 544,000 unit pace, the fastest pace since February 2015.
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Existing-home sales surge in TRID aftermath

NAR President: Near-term challenges still prevalent
The immediate impact of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures rule in October is quickly coming to light as existing-home sales bounce back after November’s steep drop. But before celebrating, NAR President Tom Salomone cautioned that data is still showing longer closing timeframes, which is a reminder that the near-term challenges they anticipated are still prevalent.
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