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
Wednesday, February 29, 2012
S&P Case-Shiller Index Shows Sharp Drop In Home Prices
U.S. home prices fell in December 4% from a year earlier, ending 2011 at the lowest levels since the housing crisis began in mid-2006, according to Standard & Poor's Case-Shiller Home-Price Indexes released Tuesday.
Prices are down 33.8% from their peak in the second quarter of 2006.
"While we thought we saw some signs of stabilization in the middle of 2011, it appears that neither the economy nor consumer confidence was strong enough to move the market in a positive direction as the year ended," said David Blitzer, chairman of S&P's index committee.
In fact, in 19 cities out of the 20 major US cities, Prices Fell in December.
In these circumstances, if you need to sell your house, it'd be very hard to do so.
However, there is always a way to Sell Your House for CASH FAST. For more info, please visit our main website at WeBuyHousesBronx4Cash.com
Prices are down 33.8% from their peak in the second quarter of 2006.
"While we thought we saw some signs of stabilization in the middle of 2011, it appears that neither the economy nor consumer confidence was strong enough to move the market in a positive direction as the year ended," said David Blitzer, chairman of S&P's index committee.
In fact, in 19 cities out of the 20 major US cities, Prices Fell in December.
In these circumstances, if you need to sell your house, it'd be very hard to do so.
However, there is always a way to Sell Your House for CASH FAST. For more info, please visit our main website at WeBuyHousesBronx4Cash.com
Thursday, February 23, 2012
Existing Home Sales in January were Below Economists Forecast
Sales of US Existing Homes increased 4.3% in January from December to a seasonally adjusted annual rate of 4.57 million, the National Association of Realtor reported Wednesday.
Although the number in January exceeded the December figure, somewhat showing a sign of improvement, it is still below 4.63 million economists had expected.
In addition, NAR revised down its December home sales rate from a pace of 4.61 million units to 4.38 million units.
On top of that, Prices Continued to Fall. The median sales price dropped in January to $154,700. That's down 2 percent from the same month last year.
In this environment, even if you want to sell your property, it'd be very hard to do so. Especially, in places like Brooklyn, the Bronx, NY where a lot of foreclosure houses are flooding the market.
However, there is always a way to Sell Your House Fast for CASH. For more info, please visit our main website at WeBuyHousesBronx4Cash.com
Although the number in January exceeded the December figure, somewhat showing a sign of improvement, it is still below 4.63 million economists had expected.
In addition, NAR revised down its December home sales rate from a pace of 4.61 million units to 4.38 million units.
On top of that, Prices Continued to Fall. The median sales price dropped in January to $154,700. That's down 2 percent from the same month last year.
In this environment, even if you want to sell your property, it'd be very hard to do so. Especially, in places like Brooklyn, the Bronx, NY where a lot of foreclosure houses are flooding the market.
However, there is always a way to Sell Your House Fast for CASH. For more info, please visit our main website at WeBuyHousesBronx4Cash.com
Friday, February 17, 2012
US Foreclosure Activities Picked Up in January
Banks took back more US homes in January than in the previous month, the latest sign that foreclosures are accelerating after slowing sharply last year.
All told, 210,941 U.S. homes received a default notice, were scheduled for auction or were arepossessed by a lender in January, RealtyTrac said.
That's up 3% from December last year. The foreclosure rate translates to one in every 624 U.S. households.
Some states posted sharp increases compared to January 2011. In New Hampshire, foreclosures jumped 62%. In Massachusetts, 75%. Economists are wondering if this trend would continue for some time.
In this environment, even if you want to sell your house, it'd be much harder.
However, there is always to Sell Your House Fast For Cash. For more info, please visit our main website at WeBuyHousesBronx4Cash.com
All told, 210,941 U.S. homes received a default notice, were scheduled for auction or were arepossessed by a lender in January, RealtyTrac said.
That's up 3% from December last year. The foreclosure rate translates to one in every 624 U.S. households.
Some states posted sharp increases compared to January 2011. In New Hampshire, foreclosures jumped 62%. In Massachusetts, 75%. Economists are wondering if this trend would continue for some time.
In this environment, even if you want to sell your house, it'd be much harder.
However, there is always to Sell Your House Fast For Cash. For more info, please visit our main website at WeBuyHousesBronx4Cash.com
Friday, February 10, 2012
Fed Chairman Still Concerned about US Housing Market going forward
Federal Reserve Chairman Ben Bernanke said that the bad US housing trend could continue for years, on Friday during a speech to the National Association of Home Builders in Orlando.
And Bernanke admits that the declines in home prices have forced many Americans to cut back sharply on spending. He says the broader economy won't fully recover until the depressed housing market turns around.
People are spending less because they are stuck in "underwater" homes, which are worth less than what is owed on the mortgage. And home values are falling because of foreclosures and tight credit — even in areas with lower unemployment.
In this environment, it is obviously hard to sell your house. Especially, in the Bronx or Brooklyn NY, where a lot of foreclosures are flooding into the market.
However, there is always a way to have your property sold for cash fast. For more detail, please visit our main website at WeBuyHousesBronx4Cash.com
And Bernanke admits that the declines in home prices have forced many Americans to cut back sharply on spending. He says the broader economy won't fully recover until the depressed housing market turns around.
People are spending less because they are stuck in "underwater" homes, which are worth less than what is owed on the mortgage. And home values are falling because of foreclosures and tight credit — even in areas with lower unemployment.
In this environment, it is obviously hard to sell your house. Especially, in the Bronx or Brooklyn NY, where a lot of foreclosures are flooding into the market.
However, there is always a way to have your property sold for cash fast. For more detail, please visit our main website at WeBuyHousesBronx4Cash.com
Monday, February 6, 2012
With a loan hard to get, US Home Sales are likely to worsen
Tightwad lenders are prolonging the housing bust and killing home sales, says the National Association of Realtors’ chief economist, Lawrence Yun.
He thinks it's too hard to get a loan these days. Before the housing boom, and the subprime mortgage debacle, the typical person getting a loan backed by Fannie Mae loan had a credit score of 720. Now it's 762.
Bankers say they're insisting that home buyers meet standards even higher than those set by Fannie and Freddie.
That shows up in the default figures. Of loans made in 2009, after the bust, 1.2 percent were in default after 18 months, Yun noted. On those made in 2007, 29 percent went bad.
Lending could get tougher later this year if federal agencies go ahead with proposals to require borrowers to place 20 percent down on a home to get the best mortgage rates, Yun noted
That suggests that US Home Sales are likely to worsen this year, too. In this depressed housing market, if you are selling your house, it’d be hard for you to have it sold.
However, there is always a way to Sell Your House Fast for CASH. For more info, please visit our main website at WeBuyHousesBronx4Cash.com
He thinks it's too hard to get a loan these days. Before the housing boom, and the subprime mortgage debacle, the typical person getting a loan backed by Fannie Mae loan had a credit score of 720. Now it's 762.
Bankers say they're insisting that home buyers meet standards even higher than those set by Fannie and Freddie.
That shows up in the default figures. Of loans made in 2009, after the bust, 1.2 percent were in default after 18 months, Yun noted. On those made in 2007, 29 percent went bad.
Lending could get tougher later this year if federal agencies go ahead with proposals to require borrowers to place 20 percent down on a home to get the best mortgage rates, Yun noted
That suggests that US Home Sales are likely to worsen this year, too. In this depressed housing market, if you are selling your house, it’d be hard for you to have it sold.
However, there is always a way to Sell Your House Fast for CASH. For more info, please visit our main website at WeBuyHousesBronx4Cash.com
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