Existing-home sales were down in May as temporary factors and financing problems weighed on the market.
Pending home sales fell in April with regional variations following increases in February and March, with unusual weather and economic softness adding to ongoing problems that are hobbling a recovery.
WASHINGTON (May 24, 2011) - The improving economy and job creation mean growing demand for commercial real estate, according to the National Association of Realtors®.
Existing-home sales slipped in April, although the market has managed six gains in the past nine months.
Realtors® have been focusing more on training to help them better meet the needs of clients in a housing market with unique challenges, according to the 2011 National Association of Realtors® Member Profile.
The commercial real estate market continues a slow pace toward recovery with occupancy rates rising in the office and industrial properties in most major cities across the U.S. supported by rising employment and restocking of wholesale inventory.
Home sales are expected to stay on an uptrend through 2012, although the performance will be uneven with mortgage constraints weighing on the market, according to experts at a residential real estate forum today at the Realtors® Midyear Legislative Meetings & Trade Expo here.
Reforms to America’s housing finance market must ensure a reliable source of affordable mortgage lending for creditworthy consumers.
Existing-home sales continued to recover in the first quarter with gains recorded in 49 states and the District of Columbia, while 22 percent of the available metropolitan areas saw prices rise from a year ago, according to the latest survey by the National Association of Realtors®.
March saw another increase in pending home sales, with contract activity rising unevenly in six of the past nine months.