It’s as if Katy Perry sang her song about the real estate market, ‘you're hot then you're cold, you're yes then you're no, you're in then you're out, you're up then you're down.’
With all of the ups and downs of housing data that flows across the news ticker, you have to sometimes wonder what to believe. National and local trends don't always align, foreclosures and short-sales hit some areas harder than others, inventory is high in one town but not another, etc.
All of these factor into what can be a real estate roller coaster ride of information. However, when everyone’s Magic 8 Ball seems to be aligned – with all signs pointing up – you can begin to see the longer-term trends taking shape.
We pulled together some of the latest housing data sound bites from national, local and industry sources. Each seems to be singing from the same playbook, which is a big step towards real estate harmony for homeowners.
As always -- whether the market is up or down -- it is equally important to consult a professional who can orchestrate the ins and outs of the real estate market for your town and neighborhood.
Housing: Even the Eeyore Index Shows Price Gains – Time Moneyland
I’ve come to think of Case-Shiller as the glummest guest at the party, a sort of ‘Eeyore Index.’ Because of that, a turn in Case-Shiller from grim to glad seems to carry extra weight, and that’s what happened this month with the [home price] numbers released this morning.
New-Home Sales Quicken Pace, Soaring 7.6% – REALTOR Mag
Single-family home sales rose 7.6 percent, reaching the highest level since April 2010. Year-over-year, total new-home sales were up nearly 20 percent. Prices are rising too, with new homes seeing a 5.6 percent increase over year ago levels.
New Home Sales Rise 3.3 Percent – Realty Times
‘The increase in April sales activity is in line with other important housing measures that have shown continued, gradual improvement from the first quarter as more consumers look to take advantage of today's low interest rates and affordable home prices,’ noted National Association of Home Builders (NAHB) Chairman Barry Rutenberg.
Rate on 30-year mortgage fall to record low – USA Today
Mortgage buyer Freddie Mac said Thursday that the average on the 30-year loan dropped to 3.66% from 3.71% last week. It's the lowest rate since long-term mortgages began in the 1950s.
Mass. home sales jump sharply in May – Boston.com
The May 2012 total was the largest number of single-family homes sold in Massachusetts since June 2010, said the Warren Group, a Boston firm that tracks real estate activity.