The November reading of the Case-Shiller index was released this morning which covers the three months of September, October and November. The non-seasonally adjusted 20-city index eased 1.3% from October to November, the third consecutive month of decline. On a year-over-year basis, the gap e
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01/31/2012
The December 2011 Realtors Confidence Index survey reports that Realtor® current confidence in the single family existing home sales market and in future prospects is increasing. This is another example of slowly improving conditions that may signify that we are in or approaching the start of the
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01/31/2012
Mortgage rates across the board are at historic lows. Everything, from 1-year adjustable rates to 30-year fixed rates, is lower now than it ever has been in most people’s experience. However, there are gaps to consider. The 15-year mortgage is at 3.2 percent while the 30-year can be obtained at
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01/30/2012
Today’s economic data showed that aggregate Personal Income grew at 0.5 percent in December, the strongest monthly gain in 9 months. People spent only a small portion of that gain, though, as the savings rate rose. Breaking down the components, the wages of everyone combined grew by 0.4 percent
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01/30/2012
The number of people filing for unemployment checks for the first time fell measurably in the past week to 352,000 (down 50,000 from the prior week), which further solidifies improving economic conditions. If weekly jobless claims can remain at or near this range then the net new job creation in
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01/27/2012
Repeat buyers accounted for 63 percent of the home buying market in the last year according to the most recent Profile of Home Buyers and Sellers. The typical age of the current repeat buyer is now 53-years-old, up substantially from 41 years reported in 2001. Repeat buyers who are aged 35 to 44
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01/26/2012
Aside from the pending home sales index, which declined modestly in December, following a good showing in the previous month, two separate housing data were out today. The number of people submitting mortgage applications for a home purchase fell 5 percent in the latest week. Despite the week-t
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01/25/2012
The typical seller tenure in home from 2001 to 2008 was 6 years. In 2009, the median years the seller stayed in the home edged up to 7 years. In 2011, the typical seller sold their home after owning it after 9 years. Sellers who owned their home for 11 to 15 years, rose from a low of only 10 per
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01/25/2012
Real estate is a business based on relationships and trust between the client and the agent. From the most recent Profile of Home Buyers and Sellers, we know that 41 percent of recent home buyers found their agent through a referral from a friend, neighbor or relative and 9 percent of buyers use
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01/24/2012
Past housing cycles were heavily influenced by changes in mortgage rates. The cycles, both up and down, were generally also abrupt. However, not this time around. The historically low mortgage rates have not turbocharged home sales. At best, there has been a slight recovery and only in the mo
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01/23/2012
