May 27, 2018

March/April 2013 Market Pulse

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March/April 2013 Market Pulse

Home sales are improving, but NAR analysts say the market would see at least a half-million more sales a year if lenders would return credit conditions to historically normal standards. About half of all borrowers today have credit scores above 740. That’s 10 percentage points higher than the period just prior to the boom, 2001–2004, when loan performance was generally solid. All trend lines are from January 2012 to January 2013.

Existing-home sales 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 is an index that measures housing contract activity. An index of 100 is equal to the level of activity during  2001, the benchmark year. Inventory measures the number of existing homes on the market at the end of the month. Buyer and seller traffic, current conditions, six-month expectations, and time on market derive from a monthly REALTOR® Confidence Index. Results for January are based on 3,586 responses to 6,000 surveys sent to large and small real estate offices. The survey asks practitioners to indicate whether conditions are strong (100 points), moderate (50), or weak (0). Some data may be revised from previous issues.

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