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Home Sales Rebound in October
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 SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Home Sales Rebound in October
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 Sales Rebound in October

November 27, 2012 (Jeff Alan)

Monthly sales of existing homes recovered from August and September’s losses with a solid gain in October according to RE/MAX’s National Housing Report (NHR) while monthly home prices slumped for a third consecutive month but were still up year-over-year.

With three more business days in October than September, closed transactions of home purchases increased 5.4 percent leaving homes sales for the month 17.8 percent higher than in October of 2011, more than enough to mark the 16th consecutive month that home sales have increased year-over-year.

Forty-eight out of the 53 metro areas in the report posted year-over-year increases in closed transactions, up from 29 in September. Providence, RI (+48.0%), Chicago, IL (+44.0%), Albuquerque, NM (+39.3%), Burlington, VT (+37.0%) and Wichita, KS (+32.2%) recorded the highest year-over-year gains in closed transactions in October.

The median sales price of the homes sold in October was 3.7 percent lower than in the previous month of September, falling from $164,989 to $158,900. The median sales price was still 2.1 percent higher than the median price of $155,630 in October of 2011. It was the ninth consecutive month that home prices have increased year-over-year following 18 months of declines.

Forty-eight of the 53 metro areas posted higher sales prices in October than they did a year earlier, unchanged from the previous month. The areas that posted the largest price gains during the month were Phoenix, AZ (+33.9%), San Francisco, CA (+31.2%), Detroit, MI (+26.3%), Boise, ID (+24.7%) and Miami, FL (+22.0%).

Housing supplies continued to dwindle with the average monthly inventory of homes for sale declining by 6.3 percent from September and 28.9 percent from October 2011. It was the 28th consecutive month that the supply of homes for sale has declined.

With the declining inventory and the increase in sales for the month, the average month’s supply of homes for sale fell for the fourth time in five months, falling from a 5.5 months supply of homes in September to a 5.2 months supply in October and down from a 7.7 months supply in October of last year.

The average number of days it took for a home to sale nudged up slightly to 82 days in October from 81 days in September but was still lower than the 95 days it took a year ago.

Tags: home sales, home prices, seasonal trends, closed transactions, median sales price

Source:
RE/MAX

INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
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 SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
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

November 27, 2012 (Jeff Alan)

Monthly sales of existing homes recovered from August and September’s losses with a solid gain in October according to RE/MAX’s National Housing Report (NHR) while monthly home prices slumped for a third consecutive month but were still up year-over-year.

With three more business days in October than September, closed transactions of home purchases increased 5.4 percent leaving homes sales for the month 17.8 percent higher than in October of 2011, more than enough to mark the 16th consecutive month that home sales have increased year-over-year.

Forty-eight out of the 53 metro areas in the report posted year-over-year increases in closed transactions, up from 29 in September. Providence, RI (+48.0%), Chicago, IL (+44.0%), Albuquerque, NM (+39.3%), Burlington, VT (+37.0%) and Wichita, KS (+32.2%) recorded the highest year-over-year gains in closed transactions in October.

The median sales price of the homes sold in October was 3.7 percent lower than in the previous month of September, falling from $164,989 to $158,900. The median sales price was still 2.1 percent higher than the median price of $155,630 in October of 2011. It was the ninth consecutive month that home prices have increased year-over-year following 18 months of declines.

Forty-eight of the 53 metro areas posted higher sales prices in October than they did a year earlier, unchanged from the previous month. The areas that posted the largest price gains during the month were Phoenix, AZ (+33.9%), San Francisco, CA (+31.2%), Detroit, MI (+26.3%), Boise, ID (+24.7%) and Miami, FL (+22.0%).

Housing supplies continued to dwindle with the average monthly inventory of homes for sale declining by 6.3 percent from September and 28.9 percent from October 2011. It was the 28th consecutive month that the supply of homes for sale has declined.

With the declining inventory and the increase in sales for the month, the average month’s supply of homes for sale fell for the fourth time in five months, falling from a 5.5 months supply of homes in September to a 5.2 months supply in October and down from a 7.7 months supply in October of last year.

The average number of days it took for a home to sale nudged up slightly to 82 days in October from 81 days in September but was still lower than the 95 days it took a year ago.

Tags: home sales, home prices, seasonal trends, closed transactions, median sales price

Source:
RE/MAX

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
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 SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
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

November 27, 2012 (Jeff Alan)

Monthly sales of existing homes recovered from August and September’s losses with a solid gain in October according to RE/MAX’s National Housing Report (NHR) while monthly home prices slumped for a third consecutive month but were still up year-over-year.

With three more business days in October than September, closed transactions of home purchases increased 5.4 percent leaving homes sales for the month 17.8 percent higher than in October of 2011, more than enough to mark the 16th consecutive month that home sales have increased year-over-year.

Forty-eight out of the 53 metro areas in the report posted year-over-year increases in closed transactions, up from 29 in September. Providence, RI (+48.0%), Chicago, IL (+44.0%), Albuquerque, NM (+39.3%), Burlington, VT (+37.0%) and Wichita, KS (+32.2%) recorded the highest year-over-year gains in closed transactions in October.

The median sales price of the homes sold in October was 3.7 percent lower than in the previous month of September, falling from $164,989 to $158,900. The median sales price was still 2.1 percent higher than the median price of $155,630 in October of 2011. It was the ninth consecutive month that home prices have increased year-over-year following 18 months of declines.

Forty-eight of the 53 metro areas posted higher sales prices in October than they did a year earlier, unchanged from the previous month. The areas that posted the largest price gains during the month were Phoenix, AZ (+33.9%), San Francisco, CA (+31.2%), Detroit, MI (+26.3%), Boise, ID (+24.7%) and Miami, FL (+22.0%).

Housing supplies continued to dwindle with the average monthly inventory of homes for sale declining by 6.3 percent from September and 28.9 percent from October 2011. It was the 28th consecutive month that the supply of homes for sale has declined.

With the declining inventory and the increase in sales for the month, the average month’s supply of homes for sale fell for the fourth time in five months, falling from a 5.5 months supply of homes in September to a 5.2 months supply in October and down from a 7.7 months supply in October of last year.

The average number of days it took for a home to sale nudged up slightly to 82 days in October from 81 days in September but was still lower than the 95 days it took a year ago.

Tags: home sales, home prices, seasonal trends, closed transactions, median sales price

Source:
RE/MAX

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
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.
SEARCH FOR A HOME
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

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