Sunday
May 20, 2018

Author Bios

Articles by this author:

  • If regulators fail to restore rules that honor the important roles of free enterprise and private property ownership, some may be unable to climb the economic ladder.

  • Key market data at the midpoint of 2012 suggest a solid second half of the year. Existing-home and pending home sales were up more than 2 percent; home prices were up more than 9 percent on a year-over-year basis, to $187,300; and inventories were down, pointing to possible continued price growth. Distressed sales were down as a share of the market, too.   All trend lines are July 2011 to July 2012. 

  • The inventory of homes for sale peaked at 4.5 million units in 2007, fueling the big drop in home prices that we’ve seen. Today, we have the opposite problem: Only 2.49 million homes are for sale, even though demand has risen some 10 percent from a year earlier.

  • Existing-home sales dipped in May from the previous month to 4.55 million units, but sales remain above year-ago levels. Also, practitioner confidence in current and future housing market conditions is up from the previous month.

  • Home sales volume last year was up modestly over 2010, but there was an important shift in their composition: Investors were stepping up to buy while households dropped back. There’s a positive side to this. Our surveys show that households getting into the market are doing so for all the right reasons. They’re seeking a different home or another neighborhood. They’re not buying just so they can flip the house at the first sign of market change.

  • 4.5 million

    This is a seasonally adjusted annual rate, which is the actual rate of sales for the month, multiplied by 12 and adjusted for seasonal sales differences.

  • A truly healthy housing market boom occurred between 1940 and 1960. Supported by Fannie Mae as a quiet, behind-the-scenes government corporation, the home ownership rate grew from 40 percent to 60 percent. The company provided liquidity for FHA mortgages and for U.S. Veterans Affairs’ zero-down payment mortgages for returning World War II soldiers, which helped fuel the growth of the American middle class.

  • Existing-Home Sales Rate For January

    4.6 million

    This is a seasonally adjusted annual rate, which is the actual rate of sales for the month, multiplied by 12 and adjusted for seasonal sales differences.

    Pending Home Sales Index For January 

    97.0

    This index measures ­housing contract activity. An index of 100 is equal to the level of activity during 2001, the benchmark year.

    Source: NAR Research

     

  • Rising rents are increasing the allure of investment property, especially for those with cash.

  •  

    Existing-Home Sales Rate For September

    4.9 million

    This is a seasonally adjusted annual rate, which is the actual rate of sales for the month, multiplied by 12 and adjusted for seasonal sales differences.

    Pending Home Sales Index For August 

    88.6

    This index measures ­housing contract activity. An index of 100 is equal to the level of activity during 2001, the benchmark year.

    Source: NAR Research