By Dennis Norman, on August 4th, 2009 Lawrence Yun, Chief Economist, NAR
By: Dennis Norman
Today the National Association of REALTORS(R) issued their Pending Home Sales Index Report for June showing pending sales in the U.S. were up for the fifth consecutive month, the first time in six-years for such a streak.
Here in the Midwest pending home sales were only up 0.8% from May, but were up a whopping 11.6% from this time a year ago, the largest year over year increase of the four regions in the U.S.
The pending home sales index for the Midwest rose 0.8% to 89.9 from a level Continue Reading →
By Dennis Norman, on August 1st, 2009
Dennis Norman
By: Dennis Norman
Buying a home should be a dream come true not a nightmare of worry and stress. A new Federal Reserve Board publication, “5 Tips for Shopping for a Mortgage,” will help consumers avoid potential pitfalls and make well-informed decisions when choosing a home loan. Financing the purchase of a home is one of the most complex financial decisions that consumers make. The Federal Reserve’s latest “5 tips” guide is designed to help home buyers find the mortgage that is best for them. The complete guide is available here however a summary of Continue Reading →
By Dennis Norman, on July 27th, 2009 Dennis Norman
This morning the U.S. Department of Commerce released a report showing the sale of New Homes in June were at a seasonally adjusted annual rate of 384,000, an 11% increase across the US from May.
However, here in the Midwest the numbers were significantly better showing a seasonally adjusted annual rate of 73,000 new homes sales in June, a 43.1% increase over Mays rate of 51,000 homes. In addition, the Midwest was the only of region of the four in the U.S. that showed an increase in sales from the year prior. In the Midwest, June’s Continue Reading →
By Dennis Norman, on July 23rd, 2009 Dennis Norman
By: Dennis Norman
The National Association of REALTORS(R) released its existing home sales report for June showing an increase in sales for the 3rd month in a row as well as higher prices in June.
Existing home sales, including single-family, town-homes, condominiums and co-ops increased 3.6% in June to a seasonally adjusted annual rate of 4.89 million units. This rate is almost identical to last years sales at the same time which is a first in a quite a while. May’s rate was down 3.6% from a year ago and June is down just 0.2% from a Continue Reading →
By Dennis Norman, on July 23rd, 2009 Dennis Norman
By: Dennis Norman
For the past two days I have written about my E-View with Karen Vennard, the 2009 President of the St. Charles County Association of REALTORS(R) to get her take on the real estate market in St. Charles County.
Today will be the final post in this series in which Karen has been shared her insights with us on the real estate market in St. Charles County. Now we’ll pick up where we left off yesterday:
Karen Vennard, 2009 President, St. Charles County Association of REALTORS
Dennis – We hear a Continue Reading →
By Dennis Norman, on July 22nd, 2009 Dennis Norman
By: Dennis Norman
Yesterday I began my E-View with Karen Vennard, the 2009 President of the St. Charles County Association of REALTORS(R) to get her take on the real estate market in St. Charles County.
Karen’s extensive knowledge of the market was apparent in her informative answers in yesterdays E-View. Now we’ll pick up where we left off yesterday:
Karen Vennard, 2009 President, St. Charles County Association of REALTORS
Dennis – Where do you see the real estate market in St. Charles County at now?
Karen – I see the market recovering; there has Continue Reading →
By Dennis Norman, on July 20th, 2009 Dennis Norman
By: Dennis Norman
A report published by Local Market Monitor, Inc. predicts the St. Louis metro area will see real estate values decline 2% in the coming 12 months. This projection does not sound bad and would support the possibility that the market is leveling off and perhaps we have seen the bottom.
Local Market Monitor Graph – St. Louis Metro Area, Home Values Forecast vs. Actual
The report also states that in the St. Louis metro market jobs have fallen by 2.5% in the past year, compared with a drop of 4% nationwide. Continue Reading →
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