Sales of previously owned homes in the United States dropped 0.9 percent in February, according to a report released Wednesday, disappointing economists.
Homes were sold at a seasonally adjusted annual rate of 4.59 million, compared with 4.63 million in January, according to a report from the National Association of Realtors.
The number indicates that roughly five years after the housing bubble burst, the real estate market’s road forward remains bumpy. Many economists had thought that with mortgage rates near record lows and the job market improving, existing-home sales would rise. But they were wrong.
Many homeowners still owe more than their houses are worth. The share of underwater mortgages is at its highest level since 2009, according to a report released this month by CoreLogic. There are 11.1 million homeowners underwater, accounting for 22.8 percent of mortgages.
In this circumstances, even if you need to sell your house, it'd be very hard to do so. Especially in the Bronx, Brooklyn and Queens, NY where a lot of foreclosures are flooding the market.
However, there is always a way to Sell Your House Quickly for Cash. For more info, please visit our main website at WeBuyHousesBronx4Cash.com
Thursday, March 22, 2012
Thursday, March 8, 2012
Despite a few signs of recovery, US housing market is NOT out of the woods Yet
Today's New York Times article just described the current US Housing situation pretty well:
In these circumstances, if you need to sell your house, it'd be very hard to do so, especially in the Bronx or Brooklyn NY, where a lot of foreclosures are flooding the market.
However, there is always a way to Sell Your House For Cash Quickly. For more info, please visit our main website at WeBuyHousesBronx4Cash.com
The housing market has shown signs of life recently. Home sales have beat expectations and pending sales neared a two-year high.
But prices — the crucial measure of housing-market health -- are still falling -- driven down by increasing levels of distressed sales of foreclosed properties. That means the market, and the broader economy, which derives much of its strength from housing, are not out of the woods — not by a long shot.
In these circumstances, if you need to sell your house, it'd be very hard to do so, especially in the Bronx or Brooklyn NY, where a lot of foreclosures are flooding the market.
However, there is always a way to Sell Your House For Cash Quickly. For more info, please visit our main website at WeBuyHousesBronx4Cash.com
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