All Cash Investor Sales Continue To DropAll-cash sales were 23% of transactions dropping for the second consecutive month from 29% the month before and representing the lowest overall share since December 2009 when it was 22%. Individual investors, who account for many cash sales, purchased 12% of homes down from 16% last month and 17% in August 2013. Sixty-four percent of investors paid cash last month.All Cash Investor Sales Continue To Drop Economists says a gradual decline in investor activity, many who pay in cash, is good for the market and creates more opportunity for buyers who rely on financing to purchase a home. The percent share of first-time buyers remained unchanged from the month before at 29%. First-time buyers have represented less than 30% of all buyers in 16 of the past 17 months. » [read more]

 

Home Builder Confidence Hits Highest Level Since 2005Hope for a stronger housing recovery is surging among the nation's home builders. A monthly index of sentiment in the industry rose for the fourth straight month in September to the highest reading since November 2005, jumping 4 points to 59. Anything above 50 is considered positive sentiment. The index had been as low as 45 just four months ago.Home Builder Confidence Hits Highest Level Since 2005 Since early summer, builders in many markets across the nation have been reporting that buyer interest and traffic have picked up, which is a positive sign that the housing market is moving in the right direction. Of the three components making up the housing market index, current sales conditions and traffic of prospective buyers each rose 5 points to 63 and 47, respectively. » [read more]

 

The median time on market for all homes was 48-days, up from 44-days last month; it was 42-days on market in July 2013. Short sales were on the market for a median of 93-days while foreclosures sold in 58-days and non-distressed homes typically took 45-days. Forty percent of homes sold were on the market for less than a month. Total housing inventory at the end of the month rose 3.5% to 2.37 million existing homes available for sale, which represents a 5.5-month supply at the current sales pace. Unsold inventory is 5.8% higher than a year ago, when there were 2.24 million existing homes available for sale. » [read more]

 

Autumn is historically the start of the slow season for home sales, but after a sluggish spring and summer, wrought with still-tight supply and higher costs, the stage may be set for a small rebound in U.S. housing this fall. More sellers are lowering their price expectations, because the number of homes that sold above list price in July was down nearly 26.00% from a year ago. That is the biggest drop of the year. Lower prices and still-lower mortgage rates as well as increasing supply could push sales higher. » [read more]

 

Properties Sold Faster For The Sixth Consecutive MonthTotal housing inventory rose 2.22% to 2.30 million existing homes available for sale, which represents a 5.5-month supply at the current sales pace, unchanged from the month before. Unsold inventory is 6.5% higher than a year ago, when there were 2.16 million existing homes available for sale.Properties Sold Faster For The Sixth Consecutive MonthProperties sold faster for the sixth consecutive month highlighting the fact that inventory is still lagging relative to demand. The median time on market for all homes was 44-days, down from 47-days a month ago; it was 37-days on market in June 2013.» [read more]