Sales of new homes rose for the first time in five months during September, but prices continued dropping, according to fresh data released Wednesday by the Commerce Department.
Sales climbed by 5.7% on a monthly basis to a seasonally adjusted annual rate of 313,000.
While sales increased, the median price in September for a new home fell to $204,400,— the lowest since October 2010. This is down 10.4% from a year earlier. Though falling prices make property more affordable, the downward trend tends to discourage would-be buyers, who wait for a better deal, which may pressure the weak US housing market even to go down further.
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Wednesday, October 26, 2011
Thursday, October 20, 2011
US Existing Home Sales Fell Again in September...
Sales of existing homes fell in September, suggesting that the US Housing market continues to be suffering from consumer pessimism and the high unemployment above 9 percent.
Purchases in September dropped 3.0 percent to a 4.91 million annual rate, reported the National Association of Realtors.
The median price dropped 3.5 percent from a year ago levels to $165,400.
In addition, the cancellation rate was still high as 18% of real-estate agents reported at least one.
Considering the above, many economists believe that the US Housing market will NOT come back until the end of 2012 or possible later.
Still You Can Sell Your House for Cash Fast. Learn More.
Purchases in September dropped 3.0 percent to a 4.91 million annual rate, reported the National Association of Realtors.
The median price dropped 3.5 percent from a year ago levels to $165,400.
In addition, the cancellation rate was still high as 18% of real-estate agents reported at least one.
Considering the above, many economists believe that the US Housing market will NOT come back until the end of 2012 or possible later.
Still You Can Sell Your House for Cash Fast. Learn More.
Thursday, October 13, 2011
Foreclosures Continue to Plague the US Housing Market including NYC
The number of U.S. homes that received a first-time default notice during the July to September quarter increased 14% from the second quarter, said RealtyTrac, an online real estate research firm, Thursday.
That increase signals banks are moving more aggressively now against borrowers who have fallen behind on their mortgage payments than before.
The surge in default notices means homeowners who haven't kept up their mortgage payments could now end up on the foreclosure path sooner.
In all, 195,878 properties received a default notice in the third quarter.
And also, Nationwide, foreclosure filings totaled 610,337 in the third quarter, which increased from the second quarter, said RealtyTrac.
These properties will eventually get into the market and will put so much pressure on the prices going forward, which will definitely delay the recovery of the US Housing Market.
Still you can sell your property Fast for Cash. Learn More
That increase signals banks are moving more aggressively now against borrowers who have fallen behind on their mortgage payments than before.
The surge in default notices means homeowners who haven't kept up their mortgage payments could now end up on the foreclosure path sooner.
In all, 195,878 properties received a default notice in the third quarter.
And also, Nationwide, foreclosure filings totaled 610,337 in the third quarter, which increased from the second quarter, said RealtyTrac.
These properties will eventually get into the market and will put so much pressure on the prices going forward, which will definitely delay the recovery of the US Housing Market.
Still you can sell your property Fast for Cash. Learn More
Saturday, October 1, 2011
Housing Prices will remain depressed for half a generation
Housing prices will NOT climb back to 2007 levels before 2020. That's the belief of a majority of bankers in FICO's latest quarterly survey of bank risk.
The survey shows that bankers expect delinquencies on consumer loans to rise, underwriting standards to become stricter and the housing sector to continue struggling far into the future.
"Housing has been an enormous drag on the economy for over three years as U.S. households lost trillions of dollars in equity," said Andrew Jennings, FICO's chief analytics officer. "Many bankers clearly believe prices will remain depressed for half a generation."
If you are in a situation where you must sell your house NOW, it's normal that you cannot have it sold for a long time. Because pretty much nobody wants to buy one now.
However, there is always a way to sell your house quickly.
For more info, please visit our website.
The survey shows that bankers expect delinquencies on consumer loans to rise, underwriting standards to become stricter and the housing sector to continue struggling far into the future.
"Housing has been an enormous drag on the economy for over three years as U.S. households lost trillions of dollars in equity," said Andrew Jennings, FICO's chief analytics officer. "Many bankers clearly believe prices will remain depressed for half a generation."
If you are in a situation where you must sell your house NOW, it's normal that you cannot have it sold for a long time. Because pretty much nobody wants to buy one now.
However, there is always a way to sell your house quickly.
For more info, please visit our website.
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