Mass Home Sales Up 7%
August 23, 2011 by admin
Filed under Positive Real Estate
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Bay State home sales rose 7 percent last month, with single-family home sales totaled 3,847 in July, up from 3,590 in the same month a year ago
In a separate report today, the Massachusetts Association of Realtors tallied a 14 percent increase in single-family home sales, based on a different set of data.
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New Housing Gets Positive
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Housing starts
Housing startswere up 7.2% over February numbers according to the . The National Association of Home Builders (NAHB).
The Midwest:up 32.3 %
The West:up 27.6 %
The Northeast: up 5.4 %
Home Sales
March sales for new single-family houses were up 11.1 %.
Building Permits Are Up too
According to the U.S. Commerce Department permits rose 11.2 %.
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Million Dollars Homes Selling
March 31, 2011 by admin
Filed under NAR, Positive Real Estate
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A Russian billionaire purchased for $100 million a French chateau-style mansion in Silicon Valley. This is the highest known price paid for a single-family home in the U.S.
The purchase of the 25,500-square-foot home in Los Altos Hills, Calif., illustrates the strength of the upper end sales across the country.
The National Association of Realtors has recently reported that homes priced at or above $1 million were up 3.9 percent in February accounting 2 percent of all sales.
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Houston Rising
February 16, 2011 by admin
Filed under Positive Real Estate
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Houston-area single-family home sales saw their first uptick after six months of year-over-year declines, news housing market observers cautiously welcomed.
“At first blush it’s indicative of maybe the market coming back a little bit,” said Jim Gaines, an economist with the Real Estate Center at Texas A&M University.
The 2,766 existing homes sold in January and that is a 7.5 % uptick over a year earlier.”
“It’s too early to tell if we’ve really turned a corner. We have to get through the spring before we can make meaningful comparisons,” he said.
http://www.chron.com/disp/story.mpl/business/realestate/7429204.html
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Chicago Real Estate Market Registers Solid 9-Month Gain in 2010
November 10, 2010 by admin
Filed under Positive Real Estate
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Metro Chicago Real Estate Market Registers Solid 9-Month Gain in 2010 Despite Slower July-Sept. Quarter, RE/MAX Reports
Sales of detached homes were 34,922, up 10.6 percent for the January-September period in the metro area, while sales of attached home increased 11.5 percent to 19,520 when compared to 2009 results. During the third quarter, however, sales of attached homes were 5,580, 28 percent below the 2009 level, while sales of detached homes dipped 19.9 percent to 10,793.
Chicago, IL –
Home sales activity in the metropolitan Chicago real estate market registered a solid gain of 11 percent for the first nine months of 2010 when compared to the same period in 2009. That was achieved even as third-quarter transaction volume was 22.8 percent lower than the same period last year.
The sales figures, analyzed by RE/MAX, are for the seven-county Chicago metropolitan area and are based on information supplied by Midwest Real Estate Data, LLC. The seven-county metropolitan area includes the Illinois counties of Cook, DuPage, Kane, Kendall, Lake, McHenry and Will.
The median sales price for homes in the metro area during the January-September period was $190,000, 5.7 percent lower than the median of $201,500 recorded for the same months in 2009. However, the average price of homes sold was more resilient, falling just 1 percent to $255,684 from $258,354 a year earlier.
“The market can now fully appreciate the impact of the homebuyer tax credit,” said Jim Merrion, regional director of the RE/MAX Northern Illinois real estate network. “Although it helped sales generally, especially sales of attached units (which consist primarily of condominium apartments and townhouses), once the tax credit expired, sales of attached units fell more sharply than sales of traditional detached homes. When you look at the first three quarters of 2010, attached homes registered a larger percentage sales increase than did detached homes.”
Sales of detached homes were 34,922, up 10.6 percent for the January-September period in the metro area, while sales of attached home increased 11.5 percent to 19,520 when compared to 2009 results. During the third quarter, however, sales of attached homes were 5,580, 28 percent below the 2009 level, while sales of detached homes dipped 19.9 percent to 10,793.
The average price of a detached home increased slightly $266,444 for the first nine months of 2010 from $265,639 during the same period in 2009. For attached homes the average price for the first nine months of the year slipped to $236,434 in 2010 from $245,215 in 2009, a 3.6 percent decline.
The average time on the market for detached homes sold during the third quarter was 148 days, down from 168 days a year earlier. The average market time of attached homes sold in the July-September period was 168 days, up from 165 days in 2009.
“The third-quarter slowdown in home sales was felt broadly,” said Merrion. “All seven counties in the metro area recorded an increase in sales activity for the first nine months of the year when compared to the same period in 2009, but all counties also showed declines in sales activity during the third quarter. Kane County turned in the best nine-month performance with a 31 percent total increase to 3,667 homes from 2,795 a year earlier.”
Of the 258 suburban market areas and 77 City of Chicago neighborhoods that RE/MAX tracks on a quarterly basis, 185 towns and 56 neighborhoods had increased sales activity during the January-September period when measured against 2009, but only 42 towns and 16 neighborhoods recorded gains in sales transactions when the third quarter of 2010 is compared to that same portion of 2009.
Detached Homes
Sales of detached homes rose in six of the seven counties over the first nine months of 2010 when compared to the same period in 2009. Only Kendall County failed to record an increase, and then only because sales fell by one unit. Kane County led the gains with a 32.2 percent increase generated by 2,995 sales. It was followed by Lake County with an 11.9 percent gain on 3,861 sales.
The results in the other counties were: Cook up 10.4 percent to 17,946 units, DuPage up 8.1 percent to 4,095 units, McHenry up 7.7 percent to 1,688 units and Will up 2.9 percent to 3,536 units. Chicago recorded a 10 percent sales increase to 6,451 units.
In the third quarter, however, sales of detached homes fell well below the 2009 pace in all counties and in Chicago. Kane County had the smallest decline at 6.8 percent on 935 transactions. Lake County was next with a 16.6 percent dip in sales based on 1,248 transactions. Other results: Cook County down 20.6 percent to 5,486 homes, DuPage down 26.3 percent to 1,242 homes, McHenry down 20.1 percent to 508 homes, Kendall down 23.9 percent to 245 homes and Will down 20.4 percent to 1,129 homes.
Attached Homes
For the first three quarters of this year, sales of attached homes rose in six counties and in Chicago. Only Will County saw a decline in its total attached sales for the period. Kendall County, with just 313 sales, recorded the largest year-to-year increase at 41 percent. Kane was the other county showing a major increase for the nine-month period, with sales up 31 percent to 672 units.
More modest increases were recorded in four other counties: Cook County saw sales of attached homes rise 12.1 percent to 14,154 units. DuPage County sales rose 6.8 percent to 2,004 units. Lake County scored a 9.9 percent increase on 1,009 sales, and McHenry County experienced a 10.4 percent rise in attached sales to 435 units. Sales in Chicago rose 10.1 percent to 9,117 units.
Results for the third quarter, on the other hand, revealed a much slower market, with total attached sales in the metro area off 28 percent from the same three months of 2009. Only Kendall and Kane Counties recorded sales declines of less than 10 percent for the quarter, with Kendall falling 3.9 percent to 99 units and Kane down 5.9 percent to 207 units.
In Cook County, which accounted for about 80 percent of all sales of attached homes during the quarter, sales fell 26.9 percent to 4,085 units. More than half those sales took place in Chicago, and there transaction activity declined 28.1 percent to 2,617 units.
Other third-quarter results: DuPage County recorded 554 sales, a 33.2 percent decline; 251 sales were completed in Will County, a 40 percent decline, and 264 sales in Lake County represented a 37.1 percent reduction. In McHenry County, 120 sales netted a decline in activity of 26.8 percent.
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New-Home Sales Rise 6.6%
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Sales of newly built, single-family homes rose 6.6% in September to a seasonally adjusted annual rate of 307,000 units, their best pace since June, according to data released by the U.S. Commerce Department in Oct. 27.
“The fact that new-home sales are finally moving in the right direction — albeit slowly — is definitely good news following an exceptionally quiet summer at builders’ sales offices and model homes,” said NAHB Chairman Bob Jones. “The road to recovery will be a long one, however, and a key hurdle that must be surpassed is the lack of available credit for new-home construction so that builders can meet improving demand for new homes moving forward.”
“This suggests that builders continue to prudently winnow down their inventories,” he said. “That said, the concern is that builders’ ongoing difficulty in accessing production credit will keep the razor-thin supply of new homes from being replenished as consumer demand revives, thereby hindering the positive momentum.”
“Beyond the higher sales figure, another positive piece of data provided by September’s report was the number of newly built, unsold homes on the market, which has been steadily declining since spring of 2007 and fell again to a modest 205,000 units in September,” said NAHB Chief Economist David Crowe.
http://eyeonhousing.wordpress.com/
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SFR’s Starts Up 4.4% in September
October 22, 2010 by admin
Filed under Positive Real Estate
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Single-Family Housing Starts Rise 4.4% in September
Nationwide housing starts rose up 0.3 percent to an adjusted annual rate of 610,000 units in September, all because of a 4.4 percent gain in the single-family sector, this from U.S. Commerce Department figures.
The jump in housing production in September was due to improvement on the single-family side, which posted a 4.4 percent gain to a seasonally adjusted annual rate of 452,000 units—the strongest level since May of this year. Multifamily starts, which tend to exhibit greater volatility on a month-to-month basis, recorded a 9.7 percent decline to a 158,000-unit rate following a big increase in August.
On a regional basis, starts activity was mixed, with two regions posting gains and two posting declines for September. The Northeast and South registered gains of 2.9 percent and 4.8 percent, respectively, while the Midwest and West registered declines of 8.2 percent and 3.6 percent, respectively.
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Danbury CT Real Estate Looking Positive
October 18, 2010 by admin
Filed under Connecticut
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In western Connecticut, Danbury developer and real estate professional Mark Nolan, of Nolan Enterprises Inc., said there has been an evolving market adjustment in housing prices that reflects the current economy.
Although there are still towns in the area where houses are priced beyond the reach of most young families, Nolan said he sees more and more sellers dropping prices so they can find buyers able to take advantage of lower mortgage rates.
Nolan said one couple he started working with a year ago was interested in a house that was originally priced at $450,000. With no takers, the house price dropped to $399,000 and then again to $365,000.
At that price, Nolan said, his clients were able to afford it and the seller still made a profit.
“There’s always going to be a demand for housing,” said Nolan, who has built rental and single-family housing developments for multiple income levels throughout the area.
Nolan is also chairman of the Danbury Housing Partnership, a public/private partnership whose aim is to provide housing to elderly, low-income, disabled and workforce families. http://www.newstimes.com/default/article/Housing-market-slowly-rebounding-in-Greater-711937.php
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California Resales Price Up 30%
September 23, 2010 by admin
Filed under california, Positive Real Estate
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The median price of resale homes in California has risen almost 30 percent since February 2009, after falling 58.8 percent from its record high in 2007, the California Association of Realtors reported yesterday.
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Miami-Dade Pending Home Sales Continue to Rise
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Miami, FL
Total pending home sales – including single-family homes and condominiums – in Miami-Dade County increased 33.7 percent in August 2010 compared to August 2009, from 7,570 to 10,119, and increased .06 percent, from 10,113 to 10,119, compared to the previous month according to the MIAMI Association of REALTORS and the Southeast Florida Multiple Listing Service (SEFMLS).
The South Florida real estate market continues to strengthen, primarily due to the highest concentration in the U.S. of international buyers, contrary to national trends, which show near-term home sales noticeably lower since the expiration of the homebuyer tax credit.
“The pending sales figures for August coupled with strengthening single-family home prices are good news for the South Florida real estate market, but there are still attractive opportunities for prospective buyers,” said Jack H. Levine, 2010 chairman of the board of the MIAMI Association of REALTORS. “Pending sales rose month-over-month and year-over-year, showing that this is still a great time to purchase a home, especially in the local market. Interest rates are at a record low and expected to remain that way for the remainder of the year while inventory is still plentiful, giving buyers many properties to choose from. Furthermore, the local market is expected to outperform other markets throughout the U.S. due to its international appeal, resulting in strengthening home values into the future.”
Pending sales of condominiums in Miami-Dade County continue to perform better than that of single-family homes. In August, condominium pending sales increased 49.7 percent compared to the previous year, from 3,848 to 5,759 and increased 0.7 percent, from 5,720 the previous month. Pending sales of single-family
homes in August increased 17.1 percent from the previous year, from 3,722 to 4,360, and decreased a slight 0.8 percent from the previous month when pending sales totaled 4,393, showing a preference for condos in August.
Pending Sales Indicative of Strengthening Market
Monthly home sales in South Florida increased dramatically for a period of 23 months since August 2008, while condominium sales continue to surge. Increased pending sales are an indication of increased future sales. A sale is listed as pending when the contract is signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
“We expect home sales to continue to increase in South Florida for the remainder of the year and headed into 2011, provided the job market continues to improve,” said Oliver Ruiz, 2010 residential president of the MIAMI Association of REALTORS. “International buyers in particular continue to positively impact the local market, creating short- and long-term demand for South Florida properties and contributing to strengthening home prices.”
MIAMI Association of REALTORS
The MIAMI Association of REALTORS was chartered by the National Association of Realtors in 1920 and is celebrating its 90th year of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of four organizations, the Residential Association, the Realtors Commercial Alliance, the Broward County Board of Governors, and the International Council, it represents more than 23,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local association in the National Association of Realtors, and has partnerships with more than 60 international organizations worldwide. MIAMI’s official website is www.miamire.com.
