Number of Homes For Sale Grows In May; Prices Drop
Number of Homes For Sale Grows In May; Prices Drop
Number of Homes For Sale Grows In May; Prices Drop
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June 20, 2011 (Jeff Alan)

As should be expected for this time of the year, the number of homes listed for sale in May increased by 3.5 percent compared to April to a total of 2.3 million listings, however, what wouldn’t be expected during the normally busy spring selling season is a 1.6 percent month-over-month price drop, but according to the latest data released by Realtor.com that’s exactly what happened.

With home prices finally starting to show a little resiliency and strength the last two months, and with some recent indices actually showing price increases, this month’s data definitely shows that these are not normal times and that we should expect an up and down housing market for some time to come.

The median sales price for a home in May 2011 was $188,900, which is down from the median price of $191,900 in April, and was 2 percent lower than the median price of $192,900 in May of 2010.

The area with the largest drop in median home prices was the Santa Barbara-Santa Maria-Lompoc, CA area where median prices dropped 26.9 percent in May compared to April.

The area with the largest increase in the median price was the Fort Myers-Cape Coral, FL area where the median price increased 27.3 percent from April to May.

The average list price for a home in May was $312,189, which was 4 percent lower than April, and 2.2 percent lower than May 2010.

Although overall housing inventory showed a month-over-month increase, the number of homes listed for sale was 14.3 percent lower than in May of last year.

The number of days that a home spent on the market was down to 92, which was a 3.2 percent drop from April, but was still 4.6 percent higher than a year ago.

Realtor.com is the official website for the National Association of Realtors (NAR) and they will be releasing their Existing Home Sales report tomorrow. It should be interesting to see what they have to say!

Tags: Realtor.com, housing inventory, listed homes, home prices, median sales price, average list price

Source:
Realtor.com

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Todays Mortgage
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June 20, 2011 (Jeff Alan)

As should be expected for this time of the year, the number of homes listed for sale in May increased by 3.5 percent compared to April to a total of 2.3 million listings, however, what wouldn’t be expected during the normally busy spring selling season is a 1.6 percent month-over-month price drop, but according to the latest data released by Realtor.com that’s exactly what happened.

With home prices finally starting to show a little resiliency and strength the last two months, and with some recent indices actually showing price increases, this month’s data definitely shows that these are not normal times and that we should expect an up and down housing market for some time to come.

The median sales price for a home in May 2011 was $188,900, which is down from the median price of $191,900 in April, and was 2 percent lower than the median price of $192,900 in May of 2010.

The area with the largest drop in median home prices was the Santa Barbara-Santa Maria-Lompoc, CA area where median prices dropped 26.9 percent in May compared to April.

The area with the largest increase in the median price was the Fort Myers-Cape Coral, FL area where the median price increased 27.3 percent from April to May.

The average list price for a home in May was $312,189, which was 4 percent lower than April, and 2.2 percent lower than May 2010.

Although overall housing inventory showed a month-over-month increase, the number of homes listed for sale was 14.3 percent lower than in May of last year.

The number of days that a home spent on the market was down to 92, which was a 3.2 percent drop from April, but was still 4.6 percent higher than a year ago.

Realtor.com is the official website for the National Association of Realtors (NAR) and they will be releasing their Existing Home Sales report tomorrow. It should be interesting to see what they have to say!

Tags: Realtor.com, housing inventory, listed homes, home prices, median sales price, average list price

Source:
Realtor.com

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

June 20, 2011 (Jeff Alan)

As should be expected for this time of the year, the number of homes listed for sale in May increased by 3.5 percent compared to April to a total of 2.3 million listings, however, what wouldn’t be expected during the normally busy spring selling season is a 1.6 percent month-over-month price drop, but according to the latest data released by Realtor.com that’s exactly what happened.

With home prices finally starting to show a little resiliency and strength the last two months, and with some recent indices actually showing price increases, this month’s data definitely shows that these are not normal times and that we should expect an up and down housing market for some time to come.

The median sales price for a home in May 2011 was $188,900, which is down from the median price of $191,900 in April, and was 2 percent lower than the median price of $192,900 in May of 2010.

The area with the largest drop in median home prices was the Santa Barbara-Santa Maria-Lompoc, CA area where median prices dropped 26.9 percent in May compared to April.

The area with the largest increase in the median price was the Fort Myers-Cape Coral, FL area where the median price increased 27.3 percent from April to May.

The average list price for a home in May was $312,189, which was 4 percent lower than April, and 2.2 percent lower than May 2010.

Although overall housing inventory showed a month-over-month increase, the number of homes listed for sale was 14.3 percent lower than in May of last year.

The number of days that a home spent on the market was down to 92, which was a 3.2 percent drop from April, but was still 4.6 percent higher than a year ago.

Realtor.com is the official website for the National Association of Realtors (NAR) and they will be releasing their Existing Home Sales report tomorrow. It should be interesting to see what they have to say!

Tags: Realtor.com, housing inventory, listed homes, home prices, median sales price, average list price

Source:
Realtor.com

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.