cash sales of real estate declined
Cash purchases typically account for about one quarter of home sales but, in the hot and heavy hdege fund days investors became a major force, . Cash investors accounted for 46.5 percent of home sales at the peak in January 2011. CoreLogic said if the cash sales share continues to fall at the rate it did in the current report period the share should return back to the 25 percent pre-crash levels by mid-2017. So is that when we should expect to find a balanced market of buyers and sellers? That is really the best for investors. When one side -either buyin or selling- is lopsided it’s either tough to buy or tough to sell. I like normal
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Real Estate market is stuck in neutral
Sales are at the highest point of 2014 burr still below last year. NAR says it’s because of the lack of inventory. Builders are not building enough new homes to satisfy the demand. According to the NAR we need 14 million new homes and less than 10 million are being built. But it looks like the builders have a reason to be cautious.
Read more on Why is the real estate market not surging ahead?…
The real estate market is becoming normal.
Distressed sales made up about 13 percent of all Ca, sales during May. Properties that had been foreclosed on is only 6.0 percent of sales compared to 11.3 percent a year earlier and much lower than the peak of 58.8 percent in February 2009. Short sales made up 6.9 percent of sales compared to 15.0 percent the previous May.
Read more on The latest real estate market stats…
Only 2 in 5 Housing Markets are Improving -Freddie Mac
THIS IS AN INTERESTING POINT OF VIEW SINCE MOST OTHER PUBLICATIONS ARE GLOWING
“According to Freddie Mac’s new Multi-Indicator Market Index (MiMi) continues to show a weak housing market overall. The national MiMi value is flat compared to last month and has improved only slightly year-over- year.
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California saw the housing market slow down in July and the rest of the country is following.
““The housing market recovery has lost a little steam which is not a surprise with the broader economy taking a bit of a step back recently. The housing market could be a little bumpy the rest of the year,” said Ryan Sweet, senior economist with Moody’s Analytics in West Chester, Pennsylvania.
Read more on National Real Estate Market slows….