Coal For Christmas? Existing-Home Sales Saw The Only National Decline With Sales Down 6.3%

Existing-home sales ran at a seasonally adjusted annual 5.32 million pace in November, the National Association of Realtors said this past week. November marked the second month of increasing sales and sales were 1.9% higher than in October, but 7.0% lower than a year ago. Homes stayed on the market for an average of 42 days in November, up from 36 days in October and 40 days from a year ago, but currently, the available supply of home would last about 4 months, down from October. Traditionally a sign of a market balanced between supply and demand is six months… Read moreCoal For Christmas? Existing-Home Sales Saw The Only National Decline With Sales Down 6.3%

Homebuilder Confidence Collapses To 3.5 Year Low

For the second month in a row, homebuilder confidence tumbled amid broad-based declines across sales, expectations and buyer traffic (down 4 to 56 and b 60 print expected) as hope begins to fall toward to the housing market’s reality. In addition, National Association of Home Builders (NAHB) six-month sales outlook dropped to the lowest since March 2016 while a measure of current sales for single-family homes decreased to a three-year low. “We are hearing from builders that consumer demand exists, but that customers are hesitating to make a purchase because of rising home costs,” said NAHB Chairman Randy Noel. “However,… Read moreHomebuilder Confidence Collapses To 3.5 Year Low

Is This Turkey Cooked Yet? Sold Homes in Denver Metro Area Tumbled 17% Month Over Month In November

The Denver Metro Association of Realtor stats are out for November and they have some mixed signals, but signs continue to point to a gradual bursting of the real estate bubble in the metro area. Housing inventory is down again almost 12% to 7,530. However, if we look at the year over year inventory statistics, inventory is up 47% which is a good sign for buyers as inventory levels in the second half of year are up. Sold homes were crushed down almost 17% month over month and almost 23% year over year. Sellers in the future will have to… Read moreIs This Turkey Cooked Yet? Sold Homes in Denver Metro Area Tumbled 17% Month Over Month In November