existing home sales

Existing Home Sales Increase Strongly Month-Over-Month

  Today’s News Synopsis: Existing home sales increased by an impressive amount last month with the increase in inventory and improving prices.  Existing home sales increased 4.9% month-over-month and are now at 4.89 million.  The number of failed banks now stands at 11 with the closure of two subsidiaries of River Valley Bancorp.  Inventory for …

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Foreclosures Decreased in April and are at their Lowest Since 2008

  Today’s News Synopsis: Mortgage rates decreased for the fourth straight week with 30-year rates now at 4.14% and 15-year rates at 3.25%.  April saw a decrease in foreclosures, which were down 5% from March and are now at their lowest since 2008.  However, despite signs of the economy looking positive last month people are …

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Tighter Credit and Decreased Inventory Leading Expectations

Today’s News Synopsis: The FHFA reported home prices increased 6.9% year-over-year in February and 0.6% month-over-month.  At the same time, sales of existing homes decreased last month decreased last month by 0.2% to 4.59 million, down from 4.60 million.  Housing expectations are not as high for this year according to the GSEs with the tighter …

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The Norris Group Real Estate News Roundup 2/21/14

Sources: Zillow Marks Upward Trend in Mortgage Rates New home sales see big jump Mortgage Applications Decrease in Latest MBA Weekly Survey Credit Default Rates Decrease in January Foreclosure Starts Fall to 2006 Level as Home Prices Rise Flat unemployment claims suggest no momentum in job recovery Cold Weather Drives Housing Starts Down in January …

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The Norris Group Real Estate News Roundup 10/21/13

Today’s News Synopsis: The NAR reported existing-home sales decreased last month by 1.9% after reaching their highest level in August.  It was reported that one in five loans do not meet the requirements set down by CFPB regarding qualified mortgages.  The number of jumbo loans available in the Chicago area has allowed more homeowners to …

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The Norris Group Real Estate News Roundup 9/20/13

Sources: Foreclosure Litigation Declines in Q1, Activity Still High Builder Confidence Unchanged in September August Existing-Home Sales Rise, Limited Inventory Continues to Push Prices Mortgage Rates Fall as U.S. Homebuyers Get Fed Reprieve Judge refuses injuction request in eminent domain case Home Starts Weaker Than Forecast as Fed Keeps QE: Economy Today’s News Synopsis: Aaron Norris …

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The Norris Group Real Estate News Roundup 8/22/13

Today’s News Synopsis: Mortgage rates are now at their highest in two years with 30-year rates at 4.58%.  Unemployment claims increased by 13,000 to 336,000 and are at their lowest since before the Great Recession.  The FHFA announced home prices increased 7.7% through during the year through June and 0.7% month-over-month from May. In The …

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The Norris Group Real Estate News Roundup 8/21/13

Today’s News Synopsis: According to the Mortgage Bankers Association, mortgage applications decreased 4.6% from last week.  Existing home sales increased 6.5% to 5.39 million in July.  This is up from 5.06 million the month prior.  Almost a year after Hurricane Sandy struck, several condominiums and cooperatives were shown to not be eligible to receive grants …

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