Existing home sales, which include single-family, townhomes, condominiums, and co-ops, rose 5.6 percent in November to a rate of 4.68 million from 4.43 million in October. According to data from The National Association of Realtors, sales are 27.9 percent below November 2009, which was the initial deadline for the first-time homebuyer tax credit. Lawrence Yun, ... MORE
Theresa Springer’s Blog
From July 2009 to June 2010, first-time buyers accounted for 50 percent of all home sales, up from 47 percent in 2009. The 2010 National Association of Realtors Profile of Home Buyers and Sellers shows a record number of entry-level buyers, largely due to the success of the home buyer tax credit. The survey also ... MORE
The National Association of Realtors’ Pending Home Sales Index dipped 1.8 percent based on signed contracts in September. The drop follows two month of gains and puts the index 24.9 percent below last year’s levels, when first-time buyers were rushing to take advantage of the tax credit before its initial deadline last November. Lawrence Yun, ... MORE
[youtube http://youtube.com/w/?v=nE2fD06CqEQ] Lawrence Yun, the National Association of Realtors’ chief economist, says job creation numbers are headed in the right direction and that, along with low mortgage rates, will be the key to bringing buyers back to the housing market. MORE
After a slow summer for home sales, the housing market is attempting to return to traditional seasonal trends, according to RE/MAX’s National Housing Report for September. The spring rush to qualify for the homebuyer tax credit caused a summer sales slump but, despite the lull in activity, the month of September saw an increase in ... MORE
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