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November 07, 2009
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Real Estate Outlook:
Case-Shiller Index
by Kenneth R. Harney
If you look at the latest Case-Shiller home price index numbers, which showed prices up in seventeen of the twenty markets it tracks and the fourth straight month of gains, you'd have to say: wow, how things have changed!
Even the gloomiest of the major indexes is now documenting month after month that housing not only bottomed out earlier this year, but is steadily racking up price gains.
But hold on, the most recent numbers get better than that: According to the National Association of Realtors, resales of existing homes jumped sharply last month, up a very robust 9.4 percent during September.
Sales around the country were 9.2 percent higher than they were during September of 2008 -- pushed this year by first-time home purchasers looking to nail down contracts to qualify for the $8,000 tax credit that's scheduled to end in less than four weeks.
Still more good news: Inventories of unsold homes fell just about everywhere, averaging about an eight month supply in September, down from a 9 month
more>
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Economic Calendar
Important economic indicators and release dates.
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Rebound in Existing Home Sales Shows First Time Buyer Momentum
by Realty Times Staff
Existing-home sales have bounced back strongly with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of RealtorsŪ (NAR).
Existing-home sales – including single-family, townhomes, condominiums and co-ops – jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million units in September from a level of 5.09 million in August,
more>
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Amy Head
919-921-0351
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PNC Mortgage
2307-D Norwood Avenue
Goldsboro, NC 27534
919-735-2602
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PNC is a registered service mark of The PNC Financial Services Group, Inc. ("PNC"). PNC Mortgage is a division of PNC Bank, National Association, a subsidiary of PNC. All loans are provided by PNC Bank, National Association and are subject to credit approval and property appraisal. (c) 2009 The PNC Financial Services Group, Inc. All rights reserved. |
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