Archive for the Real Estate Category

Good news and bad news for home buyers: Price cuts on the rise, but size of reductions getting smaller

house on chart showing decrease in statistics

There were significantly more homes that experienced a price cut in August, according to new data released by Trulia. According to a report by the real estate listing site, 17.2 percent of US listings had a price reduction, an increase from 16.7 percent in August 2017. This marks the highest level of price cuts since 2014.

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Pending Home Sales Drop in August

The number of existing U.S. homes going under contract dropped in August, marking the fourth time in five months the figure has fallen. According to the National Association of Realtors (NAR), its pending home sales index, which tracks contract signings for purchases of previously owned homes, fell 1.8% from July to 104.2 in August. This is a more significant decline than some economists predicted.

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New Home Sales Rise Despite Higher Costs

home builder on frame of house

More new homes are selling throughout the United States, even as affordability concerns persist. Sales of newly built, single-family homes rose 3.5 percent in August to a seasonally adjusted annual rate of 629,000 units after downwardly revised reports from June and July, according to recent data from the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. According to a press release from the National Association of Home Builders (NAHB), these downwardly revised reports suggest softness in new home sales activity this summer. Nevertheless, on a year-to-date basis, new home sales are 6.9 percent above where

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