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Housing Trends

October 2008

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National market update

Existing-Home Sales Slide on Tight Mortgage Availability

WASHINGTON, September 24, 2008 - Existing-home sales were down in August following a healthy gain in July as tight mortgage credit curtailed activity, according to the National Association of Realtors®. Sales rose in the Midwest and South but fell in the Northeast and West. More...
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Near-Term Home Sales to Stay in Narrow Range

WASHINGTON, September 09, 2008 - The level of home sales is expected to show little movement in the months ahead, according to the latest projections by the National Association of Realtors®. More...
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Pending Home Sales Up Strongly

WASHINGTON, October 08, 2008 - Pending home sales activity surged as buyers took advantage of low home prices and affordable interest rates, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, said home buyers were responding to improved affordability. "What we’re seeing is the momentum of people taking advantage of low home prices, with pending home sales up strongly in California, Nevada, Arizona, Florida, Rhode Island and the Washington, D.C., region,” he said. "It’s unclear how much contract activity may be impacted by the credit disruptions on Wall Street, but we’re hopeful most of the increase will translate into closed existing-home sales.” More...
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National housing indicators

Existing home sales ()

4.91 million units*

Existing home median price ()

$203,100

Housing Starts ()

895,000 units*

New home sales ()

460,000 units*

*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

2nd Qtr 08

68.1%

2nd Qtr 07

68.2%

New home sales

Aug 08

-11.5%

July 08

+4.0%

Source: U.S. CENSUS BUREAU

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Regional market updates

View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 178 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

housing market, real estate market

Home Ownership matters…to people, to communities, and to America. Why? • For every two homes sold, one job is created in the U.S. • Each purchase generates as much as $60,000 in economic activity over time. Read more

Buying is now cheaper than renting in 74 percent of the nation’s largest cities. Low home prices and “rock-bottom” interest rates as well as tax advantages of homeownership are the reasons why it’s now cheaper to BUY a 2-bdrm home than to rent one. Check out this CNN Money article with the details. Read more

Disclaimer: The views, opinions, statements and/or ideas expressed in this Message Section do not reflect the ideas, policy, position, views or opinion of Move,Inc.

Consumer tips & hot properties

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Don't Curb Buyers' First Impression

You might think the age of online real estate listings and virtual tours has rendered curb appeal less important than in days gone by. But you’d be mistaken. Sure, a potential buyer’s first impression of your home might be of your kitchen or living room, displayed on her computer screen from the comfort of her own home. More...
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Barron's Online Randall Forsyth Discusses Lending and Housing Crisis

Will 'The Donald' bale you out? Listen to Randall Forsyth, Editor of Barron's Online, discuss the future of the mortgage crisis in his Video
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Townhouse Sells for $99 Million in Moscow

WJS's THE WEALTH REPORT blog by Robert Frank looks at the lives and culture of the wealthy.

Russian petrodollars are fueling a luxury property boom in Moscow. But a seven-story, 14,000-square-foot townhome purchased for $99 million by an anonymous Russian business tycoon is raising eyebrows as it sets records. More...

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Wall Street Journal's House of the Week - Built for Art House

WSJ's House of the Week is Built for Art

"A stunning Los Angeles ultramodern residence features an open floor plan built to display high-end contemporary art. With 11,000 square feet of expansive space including a sunken living room with zinc dome, a reflecting pool, and a chic Holmby Hills address, this mansion is yours for only $25 million – art not included. More...
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Existing Home Statistics

View statistics based on national data, regional data and data gathered from 159 cities & metropolitan areas.