UF study: The price is right, so buy now
GAINESVILLE, Fla. – March 9, 2007 – Hopeful homebuyers in Florida should act now: The price is right as the state’s single-family residential housing market bottoms out, according to a University of Florida study released today.
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Florida’s existing home sales pace slows in January 2007
ORLANDO, Fla. – Feb. 27, 2007 – The pace for Florida’s existing home sales remained slow in January, though the inventory of homes began to drop in many markets across the state, according to the Florida Association of Realtors® (FAR). Statewide, sales of single-family existing homes totaled 9,382 last month compared to 12,906 homes sold in January 2006 for a 27 percent decrease.
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Affluent buyers want privacy, confidentiality
ORLANDO, Fla. – Jan. 27, 2007 – Money talks, but Realtors® selling luxury properties to affluent buyers shouldn’t, according to a recent survey.
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Existing-home sales improve in January, says NAR
WASHINGTON – Feb. 27, 2007 – Sales of existing homes rose in January, reaching the highest level in seven months, according to the National Association of Realtors® (NAR).
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No need to pay big bucks for copy of deed
NEW YORK – Feb. 22, 2007 – Save homebuying clients a few dollars and warn them about a scam that is making the rounds.
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Florida’s housing market for 4Q 2006: Sales down, median price stabilizing
ORLANDO, Fla. – Feb. 15, 2007 – Florida’s housing sector continued to mirror the national trend in fourth quarter 2006, reflecting slower sales, stabilizing median prices and higher inventory levels of homes available for sale in many markets.
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Fourth Q metro home prices; state sales likely have hit bottom, says NAR
WASHINGTON – Feb. 15, 2007 - Existing-home sales in most states were down from year-ago levels in the fourth quarter, marking the likely bottom for the current housing cycle, while prices in many areas corrected as a result of sellers’ willingness to negotiate, according to the latest quarterly surveys by the National Association of Realtors® (NAR).
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Report: 55-plus population to reach 85 million by 2014
ORLANDO, Fla. – Feb. 13, 2007 – A new report from the National Association of Home Builders’ (NAHB) 50+ Housing Council predicts that 40 percent of all households will be headed by someone 55 or older by 2012. The 55-plus population is expected to reach 85 million by 2014. The number of households in the 65-74 age bracket by itself will grow by 4.5 million between 2005 and 2014, an increase of more than 38 percent in only 10 years.
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Pending home sales index rises
WASHINGTON – Feb. 2, 2007 – Pending home sales are higher, affirming the stabilization that is occurring in home sales, according to the National Association of Realtors® (NAR).
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Fixes for a faster sale
Fixes for a faster sale
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Top 10 luxury markets to watch
In its January issue, Unique Homes Magazine lists what it expects to be the top 25 luxury markets in 2007, with Jupiter, Fla., ranking as No. 9. According to the magazine, the communities that made it on the list collectively represent where the market is heading.
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New home sales up for month, down for year
WASHINGTON – Jan. 26, 2007 – Sales of new one-family houses in December 2006 were at a seasonally adjusted annual rate of 1,120,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development, or 4.8 percent above the revised November rate of 1,069,000 and 11.0 percent below the December 2005 estimate of 1,259,000.
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Home, home on the ranch
The ranch is back. More than half of all homebuyers nationwide bought a single-story residence last year, according to Los Angeles-based KB Home.
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Florida’s existing housing market: Median price up, sales down in 2006
ORLANDO, Fla. – Jan. 25, 2007 ¬– Florida’s housing market mirrored the national trend in 2006, with sales of existing single-family homes slowing to a more sustainable pace following a five-year run of record closings. By year’s end, a total of 180,037 homes changed hands statewide for a 28 percent decrease compared to the 248,575 homes sold in 2005, according to the Florida Association of Realtors® (FAR).
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Florida’s existing home market in Dec. 2006: Sales down, median price softens
ORLANDO, Fla. – Jan. 25, 2007 – Sales of existing homes and condos in Florida were down in December; at the same time, many markets reported that the inventory of homes available for sale continued to stabilize while still low-mortgage rates sparked buyer interest.
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Existing-home sales ease in December; 2006 historically high, says NAR
WASHINGTON – Jan. 25, 2007 – Existing-home sales eased but prices stabilized as inventories tightened in December, while 2006 was the third-highest sales year on record, according to the National Association of Realtors® (NAR).
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FSBOS: Fewer going it alone
FSBOS: Fewer going it alone
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NAR: Gradual rise projected for home sales
WASHINGTON – Jan. 11, 2007 – After bottoming in the fourth quarter of 2006, existing-home sales should gradually rise through 2007 and into 2008, while new-home sales should turnaround by summer, according to the latest forecast by the National Association of Realtors® (NAR).
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NAR launches second phase of ‘Buy Now’ campaign
WASHINGTON – Jan. 9, 2007 – National Association of Realtors® (NAR) President Pat Vredevoogd Combs today unveils two new television and radio commercials that encourage buyers and sellers to ignore the real estate bubble talk and take advantage of remarkably favorable market conditions in most locales – conditions that may not last.
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Empty houses lead to lower prices
WASHINGTON – Jan. 9, 2007 – While many housing industry experts hope the real estate market sees some noticeable improvements come spring, a large number of vacant homes for sale and rent could potentially keep prices down. According to the Census Bureau, there were 5.7 million vacant housing units in third quarter 2006, accounting for a record 4.6 percent of all U.S. homes.
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Pending home sales show steady trend
A stabilization trend in the housing market is likely to continue, according to NAR’s latest Pending Home Sales Index. Based on contracts signed in November, the index eased 0.5 percent from its October level to a reading of 107.0 – 11.4 percent lower than November 2005. NAR notes that the decline from year-ago levels has been steadily narrowing since July.
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Florida’s existing home sales down in November
Sales of existing homes and condos in Florida were down in November – traditionally a slow month for the housing sector; at the same time, many markets reported that the inventory of homes available for sale continued to stabilize.
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Rising gas prices and soft housing sales hurt consumer confidence
After three solid months of gains, consumer confidence in Florida fell in December by four points to 89, UF economists report. Most of the drop came from expectations about conditions one year from now.
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2006 Top 10 Stories
With 2007 around the corner, it's time to reflect on the major real estate events shaping the industry in Florida this year. Here are FAR's picks for the Top 10 Real Estate News Stories of 2006.
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Nationally, existing and new home sales rise for month
Nationally, existing and new home sales rise for month
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Seller Strategies
An increasing number of sellers are slashing their asking prices to generate interest, pushing down the median price.
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Existing-home sales in 2007 expected to recover from cyclical low
Existing-home sales are expected to rise gradually in 2007 from current levels with annual totals comparable to 2006, while new-home sales will continue to slide, according to NAR’s latest forecast. NAR Chief Economist David Lereah believes that inventory supplies are likely to become more balanced in early spring 2007.
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PMI paid in 2007 to be tax deductible
Homeowners who pay less than 20 percent down must many times pay for PMI, but a law recently passed by Congress makes that cost fully deductible on income taxes starting in 2007. It applies to new loans for households making less than $100,000 per year.
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Cities continue to struggle to meet local housing needs
The nation’s cities continue to struggle to meet local housing needs; in fact, three-fourths of local housing officials report that the spiraling cost of housing significantly limits homeownership opportunities for lower-income people and younger families, according to a new study from the National League of Cities.
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UF study: Outlook for Florida real estate market not all bad
UF’s fourth quarter survey of Florida real estate trends finds that things aren’t all bad. More than half of the Florida real estate experts polled say it’s a poor time to build single-family housing and condos, but they’re more optimistic about all other types of properties.
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NAR: Pending home sales indicate market stabilization
Pending home sales are hovering in a narrow range, another indication that a stabilization is occurring in the housing sector, according to NAR. The index, based on contracts signed in October, slipped 1.7 percent to a reading of 107.2 — 13.2 percent lower than a year ago.
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Florida’s existing home sales down, median price level in October 2006
The pace of home sales in Florida continued to slow in October, though some markets report that the inventory of homes available for sale also eased last month. A total of 12,773 existing single-family homes sold statewide in October, a decrease of 22 percent from a year ago, while the existing-home median price remained level at $242,500.
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Existing home sales rise in October, market stabilizing, says NAR
NAR: Total existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 0.5 percent to a seasonally adjusted annual rate of 6.24 million units in October from an upwardly revised pace of 6.21 million in September, but were 11.5 percent below the 7.05 million-unit level in October 2005.
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Multifamily builders worry about weakness in condo market
A survey of multifamily homebuilders in the third quarter of 2006 finds that about 80 percent of them lack confidence in the current condo market, with more supply than demand. And about 75 percent expect conditions to remain negative for at least six months.
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Third Q metro home prices & state sales confirm market transition, says NAR
Total state existing-home sales, including single-family and condo, were at a seasonally adjusted annual rate of 6.27 million units in the third quarter, down 12.7 percent from a 7.18 million-unit pace in the third quarter of 2005 – the second highest level on record, after a peak of 7.19 million in the second quarter of last year.
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Florida’s housing market for 3Q 2006
Florida's housing sector continued to mirror the national trend in third quarter 2006, showing a higher inventory level of homes for sale in many areas and a slowdown in the market. Sales of single-family existing homes statewide totaled 43,395 during the three-month period, down 34 percent from the 2005 level; the statewide median price remained stable at $247,900.
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Florida's existing home sales ease, median price level in August 2006
Florida's housing sector continued to show signs of adjustment in August as many markets reported higher inventory levels of homes available for sale
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Existing-home sales holding at a sustainable pace
Existing-home sales stabilized at a sustainable pace in August, while home prices showed an anticipated decline, according to the National Association of Realtors® (NAR).
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10.3.06 Pending Home Sales Index shows market stabilizing
Pending home sales are up, indicating a stabilization is taking place in the housing market, according to
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10-25-06 NAR: September existing-home sales ease
Total existing-home sales -- including single-family, townhomes, condominiums and co-ops -- dipped 1.9 percent to a seasonally adjusted annual rate of 6.18 million units in September from a level of 6.30 million in August
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10-25-06 Florida's existing home sales down
Florida's housing sector continued to adjust to a more sustainable pace of sales in September 2006 with many markets reporting higher inventory levels of homes for sale; however, still-low mortgage rates also sparked buyer interest.
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Multifamily homes re-emerge as investment
In the past several years, more and more developers and landlords have turned many multifamily properties into for-sale condominiums to take advantage of a hot homebuying market
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Pending home sales level
Home sales, PHSI, are expected to hold fairly steady in the months ahead, according to the latest reading on pending home sales published by the National Association of Realtors (NAR).
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Get a Clue
You can avoid nasty surprises by encouraging your homebuyers to review a home's CLUE report, an acronym for ChoicePoint Asset Co.’s Comprehensive Loss Underwriting Exchange history. |
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