Sales are down 10.3% versus a year ago. Sales in December fell in all four major regions and for both single-family homes and condos/coops. The median price of an existing home declined to $253,600 in December (not seasonally adjusted), but is up 2.9% versus a year ago. Average prices are up 1.6% versus last year.
The December inventory decreased 11.4%, and is 10.3% lower than a year ago, having decreased for the 31st consecutive month. At the current sales rate, the December unsold inventory represents a 3.2-month supply, the lowest since NAR began this series in 1999. December existing sales reached a seasonally adjusted rate of 5.57 million units, compared to a downwardly revised 5.78 million in November. Total existing home sales include single-family homes, townhomes, condominiums and co-ops.
The median price in the Northeast was $261,400, up 3% compared with November of last year. In the Midwest, existing-home sales fell 6.3% to an annual rate of 1.33 million in December and were 1.5%.
Sales of existing single-family homes were up 6.3 percent when compared to last February with half of all counties improving from last year, while the rest dipped on a year-over-year basis. The Southern California market was not as robust as the Bay Area and the Central Valley with an overall sales decline of 2.8 percent when compared to last.
Redwood Trust: 4 optimistic opportunities ahead for mortgage REITs Fannie Mae: Home construction jobs still years from recovery higher home prices along with lean inventory and limited income growth have tempered the recovery in residential real estate. More construction. or guaranteed by, Fannie Mae and Freddie Mac. All 20.Redwood Trust: 4 optimistic opportunities ahead for mortgage REITs Who is redwood trust?. tenured mortgage REIT Experienced and disciplined team with over 140. Additionally, we have an attractive pipeline of new opportunities that we are analyzing for potential investment over the coming months.Eventual Fed MBS exit leaves open seat for new buyers The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America.It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises.Executive Conversation: Dan Sogorka on TRID solutions California city creates yet another litigation risk for big banks My Big Fat Overrated CEO: McKenna On Dimon On The Keiser Report (retheauditors.com) [.] JP Morgan Chase Named A New Chief Auditor; Can You Name Him? – Forbes on January 29th, 2013 at 11:35 am: [.] what JP Morgan Chase and Jamie Dimon really think of internal audit and the role of Chief Auditor? Take a look at how the bank handled [.]HR 1856 Mortgage applications fall on declining refinance activity pending home sales hit two-year high: NAR · The Northeast was the only region to post a gain in pending home sales in August, rising 1.3% to 98.1 and up 5.9% year over year. The Midwest dipped 0.9% to 104.7 in.The decline in mortgage interest rates to a 17-month low in October provided a temporary boost to refinancing activity, says Capital Economics in a client note. Mortgage applications for. yields.The industry is in dire need of appraisers The Imminent Extinction of the Appraisal Industry? Late yesterday afternoon a bill was introduced in the House of Representatives that would alter the mortgage process and ultimately the way millions of Americans receive a mortgage.BofA completes more short sales than REO for last 18 months The Bank of America conducted a seminar yesterday for its designated reo agents in San Diego. No new game-changers, but plenty of confirmation of what we’ve been experiencing – short sales and loan mods have dominated the space in 2010:Shown Here: Introduced in House (04/16/2015) Employee Benefits Protection Act of 2015. Amends the Employee Retirement Income Security Act of 1974 (ERISA) to require the mandatory summary description of a group health plan to declare: (1) whether the plan permits either the plan sponsor or any participating employer to unilaterally modify or terminate plan benefits affecting employees, retirees.Software NEWS: — Anow, creator of the leading software for real estate appraisal offices, today announced a partnership with the American Society of Appraisers (ASA) that gives members a significant discount off Anow’s core appraisal office management platform and early access to the tech firm’s cutting-edge products currently in development.
The October sales figure was up 0.8 percent from the 427,460 level in September and down 3.4 percent compared with home sales in October 2016 of a revised 446,150. Year-to-date sales are running 1.7 percent ahead of last year’s pace, but the annual sales pace has been declining since the first quarter.
Federal Reserve Bank of New York reappoints president After eight years in the job, William C. Dudley will be retiring early in 2018 from his post as president and CEO of the Federal Reserve Bank of New York – one of the most high profile positions in the U.S. Federal Reserve System. In an unusual matchup, recruitment firms Spencer Stuart and Bridge PartnersFannie Mae: Home construction jobs still years from recovery Wells Fargo settles claims with FHFA JPMorgan, Bear Stearns and Washington Mutual have resolved claims brought by the Federal Housing Finance Agency ("fHFA"), as conservator of Fannie Mae and Freddie. Mac, alleging. wells fargo bank, et al., No. 11-cv-. 00535 (D. Nev.The housing bust induced a 41 percent drop in residential construction jobs between 2006 and 2011. 1 Fannie Mae’s Economic and Strategic research (esr) group predicts that homebuilding activity will return to "normal" by 2016, with housing starts roughly doubling over the next four years. (See Brian Hughes-Cromwick’s and Orawin Velz’s recent FM Commentaries.)
Pending home sales in the South jumped 8.9 percent to an index of 119.8 in January, which is 3.1 percent lower than this time last year. The index in the west increased 0.3 percent in January to 87.3 and fell 10.1 percent below a year ago.
Pending home sales rebound to highest level in a year – KEYWORDS Home Price NAR National. of Realtors. The Pending Home sales Index, a forward-looking indicator based on contract signings, surged 5.5% to 112.3 in February, up from 106.4 in January. The.
The measurements were all in positive territory for the Houston real estate market in April. single-family home sales, total property sales, total dollar volume and pricing were all up compared to April 2018.Month-end pending sales of single-family homes totaled 9,467, a 17.8 percent increase over last year.
Year-over-year the pending homes sales index decreased 3.0% from last March, when the index was 110.9. ifr markets predicted the index would be up 0.9%. Regionally. of the lack of choices in.
LoanLogics names new CEO LoanLogics names CEO . 0 comments. appraiser news. Monday, May 06, 2019 . LoanLogics named Chief Operating Officer Bill Neville as its new CEO. Neville will replace former CEO Brian Fitzpatrick, the company announced in a release.