David's Blog

Home sales in June were down 8.8% compared to the same month last year when the impact of the tax credit was at its peak. Compared to the previous month, however, sales held relatively steady at 0.8% below May’s numbers. NAR Chief Economist Lawrence Yun cites an unusually high number of contract ...

The U.S. housing market has shown increased stability in home sales during 2011 compared to the previous year. Home prices are up 18% since their low in February. Signs of recovery remain mixed in the economy—employment and GDP came in less than expected while the strong points were in consumer c...

Sellers of more than 7,000 residential properties listed with Northwest Multiple Listing Service members accepted offers on their homes last month, continuing a stretch of five months with 7,000-plus pending sales. Last month’s 7,182 pending transactions (mutually accepted offers) improved on the...

1. Price it right. Studies show that when homes are priced to sell, they not only sell faster, they ultimately command a higher price than homes that sit on the market and get perceived as “stale.” 2. Consider a presale inspection. This will help you to know what items need to be fixed before you...

The Federal Reserve Board has announced the end of its $600 billion bond-buying program.  Also known as quantitative easing, the goal of this program was to bolster economic activity and lending.  When banks are concerned about the ability of businesses and consumers to repay loans, they tend to ...

The relationship between mortgage rates, home prices, and family income is the most favorable on record for buying. The home price-to-income ratio continues to remain well below the historical standard. Stabilizing home prices and rising interest rates are expected to reverse the recent affordabi...

Rates are at a record low after steadily declining throughout May, primarily due to uncertainty in the global and domestic economies. While these incredible rates represent a significant savings for home buyers, experts note that for the benefits to fully be realized, lending conditions must loos...

The supply of homes measured in months on the market at their current pace was up during May compared to April. Inventory levels remained 26% below the peak of 12.5 months in July 2010 and 12% above April of 2010 when the tax credit was in full swing. Source: National Association of Realtors Late...

Home prices rebounded 3.4% in May with median home prices rising to $166,500. This is 4.6% below the year-ago level and continues to keep the median price close to 2002–2003 levels. Just under 1 in 3 homes sold during May were distressed properties, which typically sell at a 10%–20% discount. Thi...

Home sales in May were down 15.3% compared to the same time last year when the impact of the tax credit was at its peak. Compared to the previous month, sales were down 3.8%. NAR Chief Economist Lawrence Yun states that the slower pace of sales is consistent with the slower pace of overall econom...