Tuesday, February 28, 2012


New-Home Inventory Shrinks to Record Lows
Inventory of new homes on the market shrank to its lowest point on record in January, marking a 5.6-month supply at the current sales pace. With fewer homes available, the price of new homes increased slightly last month. The median price for a new home ticked up slightly at 0.3 percent to $217,100, which is the highest level since October. New-home sales were up 3.5 percent compared to the same time last year.
Read article - Realtor Magazine

Tuesday, February 21, 2012

Real Estate Outlook: Sales Rise

Real Estate Outlook: Sales Rise
The latest quarterly report from the National Association of Realtors shows that many metro areas are now seeing more balanced conditions. Lawrence Yun, NAR chief economist, said the figures of this report reflect greater home sales activity at lower price points. "Sales have risen strongly in lower price ranges from one year ago, while sales at the upper end remain sluggish," he said. He continued that "more importantly, we're seeing a consistent trend of declining inventory, which means supply and demand conditions are becoming more balanced in more areas, which will help stabilize home prices."
Read article - Realty Times

Wednesday, February 15, 2012

Mom and pop investors snapping up homes

Mom and pop investors snapping up homes
Mom and pop investors are snapping up homes and condos to rent out all over the country. They're capitalizing on a confluence of events: affordable prices, rising rents and strong rental demand. A typical plan? Buy cheap. Collect rents to cover costs. Cash out - one day - when home prices recover. In a recent paper, the Federal Reserve noted that "small investors" are buying foreclosed homes and converting them to rentals. It also said that larger investors were struggling to do so, in part because of tight financing and their inability to buy enough properties in the same area to make it worthwhile.
Read article - USA Today

Monday, February 13, 2012

Good news!

6 'Turnaround Towns' in Real Estate - Phoenix #2
While Florida cities are expected to see some of the biggest recoveries in housing prices in the coming months, the Phoenix housing market was ranked #2 in a new report by Realtor.com revealing the top turnaround towns. In Phoenix, homes sold 27% faster in the fourth quarter compared to the same period in 2010.
Read article - Realtor Magazine