s****a
发帖数: 9912 | 1 Existing Home Sales Unexpectedly Fall 0.6% in March
Sales of previously owned U.S. homes unexpectedly dropped in March, showing
uneven progress in the industry.
Historically low mortgage rates, rising property values and employment gains
have helped mend the U.S. housing market, a source of strength for the
world’s largest economy a boost. Photographer: Patrick T. Fallon/Bloomberg
April 22 (Bloomberg) -- New York University economics professor Nouriel
Roubini talks about the outlook for the global economy and the impact of
central bank policy and austerity programs on growth. Roubini spoke with
Bloomberg's Sara Eisen April 19 on the sidelines of the IMF and World Bank
meetings in Washington. (Source: Bloomberg)
2:52
April 22 (Bloomberg) -- Chris Rupkey, chief financial economist at Bank of
Tokyo-Mitsubishi UFJ, discusses data on U.S. March existing home sales
released today and the outlook for the nation’s economy. Purchases of
previously owned houses fell 0.6 percent to a 4.92 million annual rate last
month, figures from the National Association of Realtors showed in
Washington. (Source: Bloomberg)
.
Purchases (ETSLTOTL) of previously owned houses, tabulated when a contract
closes, fell 0.6 percent to a 4.92 million annual rate last month, figures
from the National Association of Realtors showed today in Washington. The
median forecast of 75 economists surveyed by Bloomberg projected sales would
increase to a 5 million rate. Prices climbed, reflecting more demand for
higher- priced houses.
Historically low mortgage rates, rising property values and employment gains
have helped mend the U.S. housing market, a source of strength for the
world’s largest economy. At the same time, a drop in the inventory of
cheaper properties for sale compared with last year may be restraining the
pace of progress in the industry.
“Inventories are still very tight,” said Gus Faucher, senior economist at
PNC Financial Services Group Inc. in Pittsburgh, who projected a 4.95
million pace. “As potential sellers respond to higher prices we will see
inventories improve and sales go up. Affordability remains very good. The
fundamentals are very good.”
Stocks fell after the report, with the Standard & Poor’s 500 Index
declining 0.4 percent to 1,549.83 at 10:32 a.m. in New York.
Sales estimates in the Bloomberg survey ranged from 4.9 million to 5.2
million. The prior month’s pace was revised to 4.95 million from a
previously reported 4.98 million.
Median Price
The median price of an existing home rose 11.8 percent, the most since
November 2005, to $184,300 last month from $164,800 in March 2012.
The number of previously owned homes on the market rose to 1.93 million in
March from 1.9 million a month earlier, according to today’s report. The
inventory of unsold homes was 2.32 million a year earlier. At the current
sales pace, it would take 4.7 months to sell those houses compared with 4.6
months at the end of February. The group has said supply in the six-months
range is “normal.”
The supply of homes is “plentiful on the upper end of prices. There’s very
little inventory on the lower end,” Lawrence Yun, NAR chief economist,
said in a news conference today as the figures were released.
Existing-home purchases are recovering from a 13-year low of 4.11 million in
2008. Annual sales peaked at 7.08 million in 2005. A total of 4.66 million
previously-owned houses were sold in 2012.
Cash Purchases
Purchases of distressed properties, which consist of foreclosures and short
sales, accounted for 21 percent of the total, the lowest since NAR started
collecting the data in October 2008. Of all purchases, cash transactions
accounted for about 30 percent.
First-time buyers made up 30 percent of the total, the same as in February.
Yun said “first-time buyers are struggling to get into the market” with
properties for sale priced at less than $100,000.
The months’ supply of homes less than $100,000 fell to 4.5 in March from 4.
7 the same period last year, the NAR said.
Sales of existing single-family homes decreased 0.2 percent to an annual
rate of 4.32 million. Purchases of multifamily properties including
condominiums and townhouses dropped 3.2 percent to a 600,000 pace, the
report showed.
Sales dropped in two of four regions, led by a 1.7 percent decrease in the
West. Demand decreased 1.5 percent in the South. Purchases were unchanged in
the Northeast and rose 1.8 percent in the Midwest.
Borrowing Costs
Real-estate activity is being stoked by cheaper borrowing costs and an
improving labor market. The average rate for a 30- year fixed mortgage fell
to 3.41 percent in the week ended April 18, the third consecutive drop,
according to Freddie Mac. The rate declined to a record low of 3.31 percent
in November.
Higher home prices have also boosted household wealth. Property values rose
10.2 percent in the 12 months through February, the biggest gain in almost
seven years, according to Irvine, California-based CoreLogic Inc.
Builders are responding by stepping up construction, providing a boost for
the expansion. They broke ground on new homes in March at the fastest pace
in almost five years, the Commerce Department said April 16.
Contacts in most districts of the Federal Reserve system said “residential
and commercial real estate improved markedly” with rising property values
and demand for home loans that was “steady to slightly up,” according to
its Beige Book business survey, which covers the period from late February
to early April.
Furniture Sales
The strength in housing is spilling over into other parts of the economy
such as manufacturing.
“We’re encouraged by the sustained improvement in housing sales, new home
construction, rising housing prices, reduced inventories, historically low
mortgage rates, and the best housing affordability in years, all of which
combined to create a positive environment for our company and our industry,
” Paul Toms, chief executive officer at Martinsville, Virginia-based
furniture maker Hooker Furniture Corp. (HOFT), said on an April 15 earnings
call. | n**********s
发帖数: 275 | 2 recently saw more house in NJ/NY area lowering the prices too. | c****o
发帖数: 32446 | | d**********0
发帖数: 13081 | 4 同求。。。。
【在 c****o 的大作中提到】
: 求总结，中文的
| d**********0
发帖数: 13081 | | f****i
发帖数: 20252 | 6 bipolar
【在 c****o 的大作中提到】
: 求总结，中文的
| s****a
发帖数: 9912 | 7 旧房购买总量下跌0.6%
CASH BUYER逐渐退出市场
FIRST TIME BUYER贷款还是很吃力
INVENTORY还是紧俏
总体房市还是可以 | B******y
发帖数: 9065 | 8 赞！
【在 s****a 的大作中提到】
: 旧房购买总量下跌0.6%
: CASH BUYER逐渐退出市场
: FIRST TIME BUYER贷款还是很吃力
: INVENTORY还是紧俏
: 总体房市还是可以
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