Sales of major properties (over $2M) advanced 24 percent on a yearly basis during the first half of this year, totaling $145.3 billion, based on Real Capital Analytics (RCA) data. Most property types registered double-digit growth rates, signaling strong investor interest in commercial assets.
Affordability has a strong impact on homeownership. Not surprisingly, four of five states with the lowest homeownership rates in the US are characterized by markets with high prices.
NAR Chief Economist Lawrence Yun discusses the reasons for the slip in pending home sales in July 2013.
In July, single-family new-home sales dropped to their lowest level in nine months. Economists blame the recent surge in mortgage rates.
Pending home sales were down in July, with higher mortgage interest rates slowing the market.
NAR's quarterly commercial real estate forecast shows vacancy rates tightening in commercial real estate sectors with modest rent growth.
The strongest improvements in median sale prices over the four-quarter period ending in June of 2013 were dominated by markets from the Sun Belt and Atlanta.
NAR Chief Economist Lawrence Yun discusses the strong rise in existing-home sales in July 2013, and the factors that caused the rise.
The housing recovery rolls on with some markets seeing bigger progress than others.
Existing-home sales rose strongly in July, with the median price maintaining double-digit year-over-year increases.