Monthly Archives: August 2015

REALTORS® and the New Closing Process Survey

In October of 2015, the new TRID rules will go into effect changing the way closings are performed. NAR Research surveyed members about their awareness and preparation for the changes.

Highlights:

  • More than 80% of respondents had taken some form of training on TRID
  • In preparation, more than half of respondents will alter their purchase agreements to include a longer time horizon.
  • Over the 12‐month period ending in August, 9.1% of closings were delayed due to an issue in the lending process, while only 1.2% were canceled.
  • 71.2%… Read More
    Source: National Association of Realtors(R) Education

Pending Home Sales Inch Forward in July

WASHINGTON (August 27, 2015) — Pending home sales were mostly unchanged in July, but rose modestly for the sixth time in seven months, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, marginally increased 0.5 percent to 110.9 in July from an upwardly revised 110.4 in June and is now 7.4 percent above July 2014 (103.3). The index has increased year-over-year for 11 consecutive months and is the third highest… Read More
Source: National Association of Realtors(R) Education

Existing-Home Sales Data by State

NAR provides existing-home sales data for the four major regions and for the nation.

Most state and local associations of Realtors® provide data for their service areas. This information is typically raw counts of sales from local multiple listing services (MLSs) though availability and format of the data varies. The following list of state data providers, which includes association and non-association providers, is given as a courtesy reference. Contact the state or local Realtor® association in your area for more information.


Source: National Association of Realtors(R) Education

Existing-Home Sales Maintain Solid Growth in July

WASHINGTON (August 20, 2015) — Existing-home sales steadily increased for the third consecutive month in July, while stubbornly low inventory levels and rising prices are likely to blame for sales to first-time buyers falling to their lowest share since January, according to the National Association of Realtors®.

Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 2.0 percent to a seasonally… Read More
Source: National Association of Realtors(R) Education

REALTORS® Confidence Index

Highlights

  • The confidence indices for current conditions and the six-month outlook for single-family, townhome, and condominium properties all declined slightly —indicative of a slowing market.
  • The indices are, however, well above the levels of a year ago.
  • Responses indicate tight supply across many local markets.
  • Properties stayed on the market longer at a median of 42 days nationally. -First-time home buyers accounted for 28 percent of sales. Cash
    sales made up 23 percent of sales.
  • Respondents noted… Read More
    Source: National Association of Realtors(R) Education
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