NAR Chief Economist Lawrence Yun gives the statistics for December 2012 existing-home sales and explains what they mean in the context of recent years.
Existing-home sales eased in December but are well above a year ago, while limited inventory maintained the upward momentum in home prices, according to the National Association of Realtors®. Total sales in 2012 were the highest in five years, while the annual price rose the most since 2005.
Google and NAR have collaborated to uncover trends and insights around digital media usage among home shoppers, whether they were looking for an existing home, a newly constructed home, or an apartment. Together, Google and NAR's individual research results tell a cohesive story about today's uber-connected home shopper.
The activity is "one of the many indicators showing that the worst of the recession is probably over and we're starting to inch back," says a demographer on the increase in moves between counties.
With 11 months of data reported, 2012 will clearly go down as a record year for favorable housing affordability conditions, and a great year for buyers who could get a mortgage, according to the National Association of Realtors®.
The U.S. Census Bureau and HUD recently released their biennual comprehensive national housing survey, which provides data on housing inventories, demographics, home improvements, mortgages, and more.
Wealthy home owners who were trying to beat the fiscal cliff helped send luxury home sales soaring at the end of 2012.
NAR and Google have released a joint report that examines the connection between consumer Internet use and online home search and shopping patterns. The study leverages NAR's custom research and Google's proprietary and third-party research.
Based on responses to the November 2012 REALTORS® Confidence Index Survey, all states are expected to see home price increases in the next 12 months.
Pending home sales increased in November for the third straight month and reached the highest level in two-and-a-half years.