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List of Improving Housing Markets Eclipses 100 in October

List of Improving Housing Markets Eclipses 100 in OctoberImproving Housing Market

A total of 103 housing markets across the United States qualified to be listed on the National Association of Home Builders/First American Improving Markets Index (IMI) for October, released today. This is up from 99 markets listed as improving in September and is the largest number of metros on the IMI since it was created one year ago. A total of 33 states and the District of Columbia are represented on the October list.

The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. Markets added to the list in October include such geographically diverse locations as Santa Cruz, Calif.; Pocatello, Idaho; Abilene, Texas; and Savannah, Ga.

“While 11 new housing markets were designated as improving in October, 92 metros retained their spots on the IMI and just seven slipped from the list,” notes Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. “This is an encouraging sign that Read the rest of this entry »

Written by Michael Solovay | Discussion: 3 Comments »

REAL Trends Housing Market Report

REAL Trends Housing Market Report – August 2012

The REAL Trends Housing Market Report presents regional and national trends in the residential real estate market.  This latest report was released September 24, 2012.

The housing market continues to gain strength for the 12th consecutive month in August.  In the South, the sale of new and existing home units was up 13.1% while prices increased by 4.8%, compared to a year ago.

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I hope this information is useful to you.  Contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: 1 Comment »

Is The Housing Market Recovering?

Is The Housing Market Recovering?Housing Market

Realtor.com Real Estate Trend Data – April 2012

National Trends– As the 2012 spring home buying season comes into full swing key indicators continue to suggest the housing market may be at a turning point and headed towards a broad-based recovery. The total US for-sale inventory of single family homes, condos, townhomes and co-ops (SFH/CTHCOPS) now stands at 1.84 million units, down -18.85% in April 2012 compared to a year ago, and well below its peak of 3.10 million units observed in September 2007 when Realtor.com began tracking these data. The median age of the inventory fell by -11.57% on a year-over-year basis, from 95 days in April 2011 to 84 days in April 2012, while the median list price–$191,211—has remained essentially stable for more than a year.

Many Florida markets have cleared out much of their excess inventories and appear to be in recovery mode, while other hard-hit areas – Phoenix and California — show early signs of recovery. However, some Midwest and Northeast markets are losing ground as weak local economies take their toll. Lower inventories, combined with faster moving markets and relatively stable median listing prices are indicative of the kind of balanced housing market that has not been seen in many years.

Read more: Realtor.com Real Estate Trend Data – April 2012 | REALTOR.com® Blogs

Contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: 1 Comment »

Do You Believe It Is A Good Time To Buy A Home?

Housing Market

Do You Believe It Is A Good Time To Buy A Home?

In a recent Keeping Current Matters blog post by Steve Harney entitled The First Question You Should Ask Your Listing Agent, Steve discusses whether now is a good time to buy a home.

The Wall Street Journal last week stated:

With home sales starting to improve, and with prices now possibly forming a bottom, real estate could well be the asset class that represents the best low-risk buying opportunity out there today.

Donald Trump was just quoted saying:

I’m pretty sure this is a great time to go out and buy a house.  And if you do, in 10 years  you’re going to look back and say, ‘You know, I’m glad I listened to Donald Trump’.

John Paulson, a multi-billionaire hedge fund operator and the investment genius who made a killing betting against housing a few years ago, is now bullish on residential real estate market.  He recently said:

If you don’t own a home, buy one.  If you own a home, buy another one.  If you own two homes, buy a third.  And, lend your relatives money to buy a home.

A recent Gallup Poll showed that 67% of American’s think that now is a ‘good time’ to buy a home.  The Gallup Organization went on to say:

Overall, there is good reason for most Americans to think now is a good time to buy a house.  Interest rates remain near historic lows.  Home prices are down sharply, providing many incredible buys.

An iconic financial paper, the country’s most famous real estate investor, the most successful prognosticator of the housing market and 2/3 of all Americans say now is the time to buy a home.

If you have come to the same conclusion and want to buy a home or condo, I am ready to help you.  Please contact me at (305) 329-4929 or [email protected]


Written by Michael Solovay | Discussion: No Comments »

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