SAN JOSE, Calif., — The Santa Clara County housing market is showing multiple signs of a robust recovery: prices are up, days-on-the-market are shorter, and the number of closed sales is increasing. In April, the average price for a single family home stood at $843,189, a 6.09 percent increase from the $794,823 of April 2011, [...]
Median existing single-family home prices are firming in many metropolitan areas, while improving sales and declining inventory are creating more balanced conditions, according to the latest quarterly report by the National Association of Realtors®. The median existing single-family home price rose in 74 out of 146 metropolitan statistical areas1 (MSAs) based on closings in the [...]
Pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February and is [...]
Existing-home sales were down in March but continue to outpace year-ago levels, while inventory tightened and home prices are showing further signs of stabilizing, according to the National Association of Realtors®. Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 2.6 percent to a seasonally adjusted annual rate [...]
Sales of investment and vacation homes* jumped in 2011, with the combined market share rising to the highest level since 2005, according to the National Association of Realtors®. NAR’s 2012 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2011, shows investment-home sales surged an extraordinary 64.5 percent to 1.23 million last [...]
February existing-home sales declined from an upwardly revised January pace but are well above a year ago, while the median price posted a slight gain, according to the National Association of Realtors®. Sales were up in the Midwest and South, offset by declines in the Northeast and West. Total existing-home sales1, which are completed transactions [...]
Economists expect home prices to fall 0.7 percent in 2012, which is more negative than their previous expectation of a 0.2 percent decline, according to the March 2012 Zillow® Home Price Expectations Survey, compiled from 104 responses by a diverse group of economists, real estate experts and investment and market strategists. The survey, sponsored by [...]
Housing affordability conditions have reached the highest level since recordkeeping began in 1970, according to the National Association of Realtors®. NAR’s Housing Affordability Index rose to a record high 206.1 in January, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the [...]
Pending home sales are on an upward trend, which has been uneven but meaningful since reaching a cyclical low last April, and are well above a year ago, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 2.0 percent to 97.0 in January from [...]
Existing-home sales rose in January, marking three gains in the past four months, while inventories continued to improve, according to the National Association of Realtors®. Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 4.3 percent to a seasonally adjusted annual rate of 4.57 million in January from [...]