Pending Home Sales Up in May
June 29, 2011 by admin
Filed under Pending Home Sales
Pending home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year, according to the National Association of Realtors®.
The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 8.2 percent to 88.8 in May from an upwardly revised 82.1 in April and is 13.4 percent higher than the 78.3 reading in May 2010. The data reflects contracts but not closings, which normally occur with a lag time of one or two months.
http://www.realtor.org/press_room/news_releases/2011/06/pending_may
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Great Inventory News
June 24, 2011 by admin
Filed under foreclosures, Positive Real Estate
According to CoreLogic the current residential shadow inventory nationwide has dropped 0.2 million units, representing a five-month supply of houses yet to hit the market. This is a significant decrease from the shadow inventory a year ago which was estimated to be 1.9 million housing units, also considered to be a five-month supply. Corelogic says this is because of “fewer new delinquencies and the high level of distressed sales.”
Additionally, theFederal Housing Finance Agency (FHFA) says that prices rose 0.8 percent in April over March for the first time in almost a year.
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- Shadow Inventory Falls 18% from Peak (nocohomes.wordpress.com)
- CoreLogic: Shadow Inventory Declines to 1.7 Million Homes (johnmurphyreports.com)
