From RealTrends.com: A 30-year fixed-rate mortgage (FRM) averaged 4.83 percent with an average 0.7 point for the week ending November 19, 2009, down from last week when it averaged 4.91 percent, according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®). Last year at this time, the 30-year FRM averaged 6.04 percent. The 15-year FRM this … Read more
Associated Press, WASHINGTON – Home sales surged for the second month in a row in October, climbing to the highest level in 2 1/2 years as first-time buyers rushed to take advantage of an expiring tax credit.
Home sales nationwide are now up nearly 36 percent from their bottom in January, data Monday showed, though they are still 16 percent below the peak in autumn 2005. At the current sales pace, there is only a 7-month supply of homes on the market and in some areas there are bidding wars.
From RealTrends.com: Non-distressed homes are selling at rates and prices that are stronger than history would predict for this time of year, according to the September 2009 RPX Monthly Housing Market Report. But the 25-MSA RPX Composite dipped sharply in September due to an increase in sales of distressed homes and a decline in prices received for distressed homes. Nevertheless, the Composite’s decline in September came after four months of above-average growth, and its performance year-to-date remains strong relative to the last three years.
RISMEDIA, November 16, 2009—Most states continued to experience rising existing-home sales in the third quarter 2009, with prices moderating in many metro areas, according to the latest survey by the National Association of Realtors®. Total state existing-home sales, including single-family and condo, increased 11.4% to a seasonally adjusted annual rate of 5.30 million units in the third quarter from 4.76 million units in the second quarter, and are now 5.9% above the 5.01 million-unit pace in the third quarter of 2008. Sales increased from the second quarter in 45 states and the District of Columbia; 28 states and D.C. saw double-digit gains. Year-over-year sales were higher in 32 states and D.C.
From Real Trends.com: Mortgage applications rose 3 percent for the week ended Nov. 6 as refinances made up for a plunge in purchase applications. The Mortgage Bankers Association’s index of applications rose to 627.7 from the prior week’s 608. The index of home purchase applications plunged 12 percent while the index of refinances jumped 11 percent.
From RealTrends.com: Pending home sales rose 6.1% in September, considerably better than the 0.1% decrease that economists were expecting, according to the National Association of Realtors. This is the eighth consecutive month pending home sales have risen.
November 1, 2009
On the following pages are sales statistics for the first ¾ of 2009 as well as those for the two previous years for the same time frame. We are providing you with specific area statistics this quarter just so you can get a broad, yet detailed idea of the Santa Fe real estate market. Although sale prices and the number of homes sold continue to be lower than last year, we are pleased to say that Sotheby’s “under contract” properties are surpassing last year. Historically, this represents a sign of a market that has reached, or is reaching, its bottom.
From RealTrends.com: Home prices overall have improved now for seven straight months, according to the Standard & Poor’s Case-Shiller Home Price Index. The report once again showed moderation in the annual declines of residential prices. August readings for S&P’s 10-city and 20-city composites were down by 10.6 percent and 11.3 percent, respectively, compared to the same month last year.
From Inman.com: The annual rate of price declines slowed from July to August in 19 of 20 metro areas tracked by the S&P/Case-Shiller Home Price Indices, marking seven months of improved readings, Standard & Poor’s said today in releasing the latest numbers.
From RealTrends.com: Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of REALTORS®.
