New Home Sales Beat Expectations In April

bobbybaldor Real Estate Leave a Comment

New data released by the U.S. Census Bureau and the Department of Housing and Urban Development shows sales of newly built single-family homes rose 6.8 percent in April from the month before. The increase, which beat economists’ expectations for the month, put sales 26.1 percent above last year’s level. The results join other recent reports indicating that the housing market’s …

Residential Real Estate Gains Momentum

bobbybaldor Real Estate Leave a Comment

Each month, Fannie Mae’s Economic & Strategic Research Group updates their outlook for the housing market and the broader economy. According to the most recent release, the group still expects the economy to pick up from a slow first quarter but they’ve adjusted their forecast for annual growth downward. Despite the change, however, Fannie Mae sees positive momentum in the …

Existing Home Sales Up 6% From Last Year

bobbybaldor Real Estate Leave a Comment

In April, sales of previously owned homes were 6.1 percent higher than they were at the same time last year. But, though sales levels were elevated from the year before, they slowed a bit from March’s pace, dropping 3.3 percent on a month-over-month basis. Lawrence Yun, NAR’s chief economist, said the drop was due to a lack of available homes …

Mortgage Demand Slows With Rate Rise

bobbybaldor Real Estate Leave a Comment

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates increased last week across all loan categories, including 30-year fixed-rate mortgages with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate mortgages. At the same time, mortgage demand slipped slightly, falling 1.5 percent according to the Market Composite Index, which measures both …

New Home Construction Has Best Month Since 2007

bobbybaldor Real Estate Leave a Comment

The housing market’s recovery over the past few years has been up and down. Some measures of the market’s health have rebounded faster than others. Home prices, for example, have largely recovered the losses suffered following the financial crisis. Housing starts, on the other hand, have lagged behind. Starts are a gauge of how many new homes began construction during …

Builders Optimistic About New Home Market

bobbybaldor Real Estate Leave a Comment

Because builders have an unique perspective on the market for new homes, the National Association of Home Builders tracks their outlook on current buyer traffic, sales conditions, and future sales expectations as part of their monthly Housing Market Index. The index measures builder confidence on a scale where any number above 50 indicates more builders view conditions as good than …

Applications To Buy New Homes Up In April

bobbybaldor Real Estate Leave a Comment

New data from the Mortgage Bankers Association shows the number of mortgage applications for new home purchases increased 0.3 percent in April from the month before. Though relatively flat month-over-month, Mike Fratantoni, MBA’s chief economist, says the spring season got off to an earlier than usual start this year. “Applications were essentially flat in April, but March and April builder …

Orlando Market Pulse – April 2015

bobbybaldor Real Estate Leave a Comment

Highlights from the Orlando Regional Realtor Association’s most recent Market Pulse. Median Price *The median price of all existing homes combined sold in April 2015 — $175,000 — is a 7.69 percent increase from the $162,500 median price recorded in April 2014, and a 1.17 percent decrease compared to March 2015. *The median price for “normal” existing homes sold in …

Town Center next phase of Disney Springs

bobbybaldor Real Estate Leave a Comment

From The Orlando Sentinel Internationally known retailers and a 1900s look will be features of Town Center, the next phase of Downtown Disney’s transformation into Disney Springs, company officials say. Town Center, one of the new districts created within the shopping and entertainment complex, is under construction in space previously used for guest parking. It will have larger stores than …

Foreclosure 1

Foreclosure Inventory, Completions Continue Decline Toward Pre-Crisis Levels

bobbybaldor Real Estate Leave a Comment

From DSNews Completed foreclosures experienced another substantial year-over-year decline in March, moving even further away from their peak from nearly five years ago, according to CoreLogic’s March 2015 National Foreclosure Report released on Tuesday. Foreclosure inventory also fell substantially year-over-year in March, declining by 25.7 percent down to about 542,000 mortgages (about 1.4 percent of all mortgages nationwide) – marking the 41st consecutive …