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Monthly Home Sales Decline in July but Up from Last Year
HOW LOANRATEUPDATE WORKS
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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
Monthly Home Sales Decline in July but Up from Last Year
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
Monthly Home Sales Decline in July but Up from Last Year

August 19, 2011 (Brian Moore)

After two months of rising, home sales followed the traditional summer trend and declined in the month of July. Home sales fell 12.7 percent from June, but were up 13.1 percent from July of last year according to RE/MAX’s National Housing Report (NHR).

The impressive increase in sales from a year earlier was the first time that home sales had increased in year-over-year comparisons since January, but is likely due to the huge drop in sales last year following the ending of the home buyer tax credit.

The monthly decline in sales from June to July was also higher than the normal seasonal trend as strict lending standards, bad appraisals and overall concern about the economy contributed to the decline. Mortgage applications were affected by lenders who were already using the lower GSE and FHA loan limits that take effect on September 30.

Forty-five out of the 53 metro areas in the report experienced year-over-year increases in closed transactions. Des Moines, IA (+49.9%), Omaha, NE (+46.8%), Milwaukee, WI (+37.7%), Providence, RI (+32.4%), and Wichita, KS (+29.0%) recorded the highest gains in closed transactions.

Sales prices in July were just 0.18 percent lower than in June and were 4.6 percent lower than in July 2010. The median sales price in July 2011 was $193,042, down from $193,791 in June and down from a median sales price of $202,350 in July of 2010.

Only 11 of the 53 metro areas recorded higher prices in July than they did a year earlier. The best price performers were Detroit, MI (+14.3%), Birmingham, AL (+9.8%), Des Moines, IA (+7.7%), Orlando, FL (+5.5%), and Pittsburgh, PA (+4.4%).

The average number of days it took to sell a home in July was 88, which was down from 90 days in June. Inventory increased in July as the average months supply of inventory increased to 7.2 months, up from 6.9 in June, but down from a 9.3 months supply of homes in July 2010.

Inventory supply decreased the most in Miami, FL (-52.5%), Tampa, FL (-37.3%), Phoenix, AZ (-35.6%), Los Angeles, CA (-32.4%) and Chicago, IL (-26.9%).

“The fact that July home sales were higher than a year ago, and by such a significant amount, gives us reason for great optimism,” said Margaret Kelly, CEO of RE/MAX, LLC. “And now that prices have risen for four of the past five months, the housing market is beginning to show definite signs of recovery.”

Tags: RE/MAX, home sales, home prices, National Housing Report, market recovery, seasonal trends, closed transactions

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
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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
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August 19, 2011 (Brian Moore)

After two months of rising, home sales followed the traditional summer trend and declined in the month of July. Home sales fell 12.7 percent from June, but were up 13.1 percent from July of last year according to RE/MAX’s National Housing Report (NHR).

The impressive increase in sales from a year earlier was the first time that home sales had increased in year-over-year comparisons since January, but is likely due to the huge drop in sales last year following the ending of the home buyer tax credit.

The monthly decline in sales from June to July was also higher than the normal seasonal trend as strict lending standards, bad appraisals and overall concern about the economy contributed to the decline. Mortgage applications were affected by lenders who were already using the lower GSE and FHA loan limits that take effect on September 30.

Forty-five out of the 53 metro areas in the report experienced year-over-year increases in closed transactions. Des Moines, IA (+49.9%), Omaha, NE (+46.8%), Milwaukee, WI (+37.7%), Providence, RI (+32.4%), and Wichita, KS (+29.0%) recorded the highest gains in closed transactions.

Sales prices in July were just 0.18 percent lower than in June and were 4.6 percent lower than in July 2010. The median sales price in July 2011 was $193,042, down from $193,791 in June and down from a median sales price of $202,350 in July of 2010.

Only 11 of the 53 metro areas recorded higher prices in July than they did a year earlier. The best price performers were Detroit, MI (+14.3%), Birmingham, AL (+9.8%), Des Moines, IA (+7.7%), Orlando, FL (+5.5%), and Pittsburgh, PA (+4.4%).

The average number of days it took to sell a home in July was 88, which was down from 90 days in June. Inventory increased in July as the average months supply of inventory increased to 7.2 months, up from 6.9 in June, but down from a 9.3 months supply of homes in July 2010.

Inventory supply decreased the most in Miami, FL (-52.5%), Tampa, FL (-37.3%), Phoenix, AZ (-35.6%), Los Angeles, CA (-32.4%) and Chicago, IL (-26.9%).

“The fact that July home sales were higher than a year ago, and by such a significant amount, gives us reason for great optimism,” said Margaret Kelly, CEO of RE/MAX, LLC. “And now that prices have risen for four of the past five months, the housing market is beginning to show definite signs of recovery.”

Tags: RE/MAX, home sales, home prices, National Housing Report, market recovery, seasonal trends, closed transactions

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

August 19, 2011 (Brian Moore)

After two months of rising, home sales followed the traditional summer trend and declined in the month of July. Home sales fell 12.7 percent from June, but were up 13.1 percent from July of last year according to RE/MAX’s National Housing Report (NHR).

The impressive increase in sales from a year earlier was the first time that home sales had increased in year-over-year comparisons since January, but is likely due to the huge drop in sales last year following the ending of the home buyer tax credit.

The monthly decline in sales from June to July was also higher than the normal seasonal trend as strict lending standards, bad appraisals and overall concern about the economy contributed to the decline. Mortgage applications were affected by lenders who were already using the lower GSE and FHA loan limits that take effect on September 30.

Forty-five out of the 53 metro areas in the report experienced year-over-year increases in closed transactions. Des Moines, IA (+49.9%), Omaha, NE (+46.8%), Milwaukee, WI (+37.7%), Providence, RI (+32.4%), and Wichita, KS (+29.0%) recorded the highest gains in closed transactions.

Sales prices in July were just 0.18 percent lower than in June and were 4.6 percent lower than in July 2010. The median sales price in July 2011 was $193,042, down from $193,791 in June and down from a median sales price of $202,350 in July of 2010.

Only 11 of the 53 metro areas recorded higher prices in July than they did a year earlier. The best price performers were Detroit, MI (+14.3%), Birmingham, AL (+9.8%), Des Moines, IA (+7.7%), Orlando, FL (+5.5%), and Pittsburgh, PA (+4.4%).

The average number of days it took to sell a home in July was 88, which was down from 90 days in June. Inventory increased in July as the average months supply of inventory increased to 7.2 months, up from 6.9 in June, but down from a 9.3 months supply of homes in July 2010.

Inventory supply decreased the most in Miami, FL (-52.5%), Tampa, FL (-37.3%), Phoenix, AZ (-35.6%), Los Angeles, CA (-32.4%) and Chicago, IL (-26.9%).

“The fact that July home sales were higher than a year ago, and by such a significant amount, gives us reason for great optimism,” said Margaret Kelly, CEO of RE/MAX, LLC. “And now that prices have risen for four of the past five months, the housing market is beginning to show definite signs of recovery.”

Tags: RE/MAX, home sales, home prices, National Housing Report, market recovery, seasonal trends, closed transactions

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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