Latest Realty News from NAR
September 2018 Existing-Home Sales
by Michael Hyman, Research Data Specialist on October 19, 2018 at 7:58 pm
NAR released a summary of existing-home sales data showing that housing market activity this September was down 3.4 percent from last month, and dropped 4.1 percent from last year. September’s existing-home sales reached a 5.15 million seasonally adjusted annual rate, which was the lowest since November 2015 when the index reached 4.78 million. The national […]
How much of my income goes towards housing?
by Michael Hyman, Research Data Specialist on October 15, 2018 at 4:29 pm
With rates rising and home price growth starting to slow, I started to consider how much income is used towards housing in this current economic climate. Mortgage rates are trending upwards to near the highs of 2011 at 4.98 percent, home prices are still rising but at a slower pace, and the median income has […]
August 2018 Housing Affordability Index
by Michael Hyman, Research Data Specialist on October 12, 2018 at 3:58 pm
At the national level, housing affordability is up from last month but down from a year ago. Mortgage rates rose to 4.78 percent this August, up 14.1 percent compared to 4.19 percent a year ago. Housing affordability declined from a year ago in August moving the index down 8.3 percent from 153.9 to 141.2. The […]
In Which States Did Properties Sell Most Quickly in August 2018?
by Scholastica (Gay) Cororaton, Research Economist on October 3, 2018 at 8:47 pm
In a monthly survey of REALTORS®, respondents reported that properties were typically on the market for 29 days, just a day shorter time compared to one year ago (30 days), according to the August 2018 REALTORS® Confidence Index Survey. This indicates that in many states, the supply of homes for sale is still inadequate compared […]