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Home Purchases Tumble in May, Low Supply Cited
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO TAKE IT TO THE NEXT LEVEL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Home Purchases Tumble in May, Low Supply Cited
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Home Purchases Tumble in May, Low Supply Cited

June 22, 2012 (Chris Moore)

Completed transactions of existing home purchases took an unexpected tumble in May but still remained above last year’s levels while home prices continued to strengthen according to the National Association of Realtors® (NAR).

Monthly existing home sales, which include single-family homes, townhomes, condos, and co-ops, fell to a seasonally adjusted rate of 4.55 million in May, down from 4.62 million in April, a loss of 1.5 percent. Compared to May of last year, sales were still 9.6 percent higher than the 4.15 million seasonally adjusted transactions. It was the 11th consecutive month that year-over-year home sales have increased.

Lawrence Yun, chief economist of NAR, stated, “The slight pullback in monthly home sales is more likely due to supply constraints rather than softening demand. The normal seasonal upturn in inventory did not occur this spring. Even with the monthly decline, home sales have moved markedly higher with 11 consecutive months of gains over the same month a year earlier.”

Regional Home Sales:

Monthly existing home sales in the Northeast declined by 4.8 percent to an annual rate of 590,000 sales but were 7.3 percent higher than in May of last year, while in the Midwest, sales edged up one percent from the previous month, selling at a rate of 1.04 million annual sales, and were 6.4 percent higher than last year’s sales pace.

In the South, monthly existing home sales declined a modest 0.6 percent in May at an annual pace of 1.78 million transactions but were 9.2 percent above May 2011’s levels, and in the West, transactions for the month fell by 3.4 percent to an annual rate of 1.14 million sales and were 3.6 percent higher than last year’s sales pace.

Home Prices:

Monthly home prices increased 2.9 percent as the national median existing home price increased from $177,400 in April to $182,600 in May. The median home price in May was 7.9 percent higher than in the same month last year, the third consecutive month that home prices have surpassed the previous year’s levels.

The median price in the Northeast was $250,700, which was 3.8 percent higher than a year ago but down from $256,600 last month, while the median price in the Midwest was $147,700, up 6.4 percent from May of 2011 and up from $141,700 last month.

In the South, the median price was $159,700, a gain of 9.2 percent from a year ago and up from $153,400 last month, and in the West, the median price was $233,900, up 13.4 percent from May of 2011 and up from $221,700 the previous month.

Cash and Distressed Property Sales:

Distressed property sales accounted for 25 percent of all existing home sales in May, down from 28 percent in April and down from 31 percent in May of 2011. Foreclosure sales made up 15 percent of all existing home sales while short sales accounted for 10 percent of all existing sales.

Cash sales accounted for 28 percent of all sales in May, down from 29 percent in April, while investors jumped in and purchased 17 percent of the homes sold in May, down from 20 percent in April.

Housing Inventory:

The number of homes available for sale in May edged down 0.4 percent to 2.49 million homes which represents a 6.5 month supply, down from a 6.6 months supply in April.

Tags: existing home sales, investors, distressed property sales, declining prices, low appraisals, cancelled contracts, median home price

Source:
NAR

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
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A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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BUYING OR SELLING A HOME IS A BIG DECISION
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Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

June 22, 2012 (Chris Moore)

Completed transactions of existing home purchases took an unexpected tumble in May but still remained above last year’s levels while home prices continued to strengthen according to the National Association of Realtors® (NAR).

Monthly existing home sales, which include single-family homes, townhomes, condos, and co-ops, fell to a seasonally adjusted rate of 4.55 million in May, down from 4.62 million in April, a loss of 1.5 percent. Compared to May of last year, sales were still 9.6 percent higher than the 4.15 million seasonally adjusted transactions. It was the 11th consecutive month that year-over-year home sales have increased.

Lawrence Yun, chief economist of NAR, stated, “The slight pullback in monthly home sales is more likely due to supply constraints rather than softening demand. The normal seasonal upturn in inventory did not occur this spring. Even with the monthly decline, home sales have moved markedly higher with 11 consecutive months of gains over the same month a year earlier.”

Regional Home Sales:

Monthly existing home sales in the Northeast declined by 4.8 percent to an annual rate of 590,000 sales but were 7.3 percent higher than in May of last year, while in the Midwest, sales edged up one percent from the previous month, selling at a rate of 1.04 million annual sales, and were 6.4 percent higher than last year’s sales pace.

In the South, monthly existing home sales declined a modest 0.6 percent in May at an annual pace of 1.78 million transactions but were 9.2 percent above May 2011’s levels, and in the West, transactions for the month fell by 3.4 percent to an annual rate of 1.14 million sales and were 3.6 percent higher than last year’s sales pace.

Home Prices:

Monthly home prices increased 2.9 percent as the national median existing home price increased from $177,400 in April to $182,600 in May. The median home price in May was 7.9 percent higher than in the same month last year, the third consecutive month that home prices have surpassed the previous year’s levels.

The median price in the Northeast was $250,700, which was 3.8 percent higher than a year ago but down from $256,600 last month, while the median price in the Midwest was $147,700, up 6.4 percent from May of 2011 and up from $141,700 last month.

In the South, the median price was $159,700, a gain of 9.2 percent from a year ago and up from $153,400 last month, and in the West, the median price was $233,900, up 13.4 percent from May of 2011 and up from $221,700 the previous month.

Cash and Distressed Property Sales:

Distressed property sales accounted for 25 percent of all existing home sales in May, down from 28 percent in April and down from 31 percent in May of 2011. Foreclosure sales made up 15 percent of all existing home sales while short sales accounted for 10 percent of all existing sales.

Cash sales accounted for 28 percent of all sales in May, down from 29 percent in April, while investors jumped in and purchased 17 percent of the homes sold in May, down from 20 percent in April.

Housing Inventory:

The number of homes available for sale in May edged down 0.4 percent to 2.49 million homes which represents a 6.5 month supply, down from a 6.6 months supply in April.

Tags: existing home sales, investors, distressed property sales, declining prices, low appraisals, cancelled contracts, median home price

Source:
NAR

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

June 22, 2012 (Chris Moore)

Completed transactions of existing home purchases took an unexpected tumble in May but still remained above last year’s levels while home prices continued to strengthen according to the National Association of Realtors® (NAR).

Monthly existing home sales, which include single-family homes, townhomes, condos, and co-ops, fell to a seasonally adjusted rate of 4.55 million in May, down from 4.62 million in April, a loss of 1.5 percent. Compared to May of last year, sales were still 9.6 percent higher than the 4.15 million seasonally adjusted transactions. It was the 11th consecutive month that year-over-year home sales have increased.

Lawrence Yun, chief economist of NAR, stated, “The slight pullback in monthly home sales is more likely due to supply constraints rather than softening demand. The normal seasonal upturn in inventory did not occur this spring. Even with the monthly decline, home sales have moved markedly higher with 11 consecutive months of gains over the same month a year earlier.”

Regional Home Sales:

Monthly existing home sales in the Northeast declined by 4.8 percent to an annual rate of 590,000 sales but were 7.3 percent higher than in May of last year, while in the Midwest, sales edged up one percent from the previous month, selling at a rate of 1.04 million annual sales, and were 6.4 percent higher than last year’s sales pace.

In the South, monthly existing home sales declined a modest 0.6 percent in May at an annual pace of 1.78 million transactions but were 9.2 percent above May 2011’s levels, and in the West, transactions for the month fell by 3.4 percent to an annual rate of 1.14 million sales and were 3.6 percent higher than last year’s sales pace.

Home Prices:

Monthly home prices increased 2.9 percent as the national median existing home price increased from $177,400 in April to $182,600 in May. The median home price in May was 7.9 percent higher than in the same month last year, the third consecutive month that home prices have surpassed the previous year’s levels.

The median price in the Northeast was $250,700, which was 3.8 percent higher than a year ago but down from $256,600 last month, while the median price in the Midwest was $147,700, up 6.4 percent from May of 2011 and up from $141,700 last month.

In the South, the median price was $159,700, a gain of 9.2 percent from a year ago and up from $153,400 last month, and in the West, the median price was $233,900, up 13.4 percent from May of 2011 and up from $221,700 the previous month.

Cash and Distressed Property Sales:

Distressed property sales accounted for 25 percent of all existing home sales in May, down from 28 percent in April and down from 31 percent in May of 2011. Foreclosure sales made up 15 percent of all existing home sales while short sales accounted for 10 percent of all existing sales.

Cash sales accounted for 28 percent of all sales in May, down from 29 percent in April, while investors jumped in and purchased 17 percent of the homes sold in May, down from 20 percent in April.

Housing Inventory:

The number of homes available for sale in May edged down 0.4 percent to 2.49 million homes which represents a 6.5 month supply, down from a 6.6 months supply in April.

Tags: existing home sales, investors, distressed property sales, declining prices, low appraisals, cancelled contracts, median home price

Source:
NAR

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS