Archive for the 'Market Statistics' Category
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November 4th, 2009
Categories: Home Buying, Home Selling, Investing, Living in Annapolis, Market Statistics, Renting
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Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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Annapolis Real Estate Market Statistics September 2009
September 23rd, 2009
Categories: Home Buying, Home Selling, Investing, Market Statistics
For the first time in five years, existing home sales have increased for four months in a row, according to an August report by the The National Association of Realtors® (NAR). Existing home sales – including single-family, townhomes, condominiums, and co-ops – increased 7.2 percent in July, which is the largest monthly sales gain recorded since 1999. Analysts are projecting an increase in 2009 of existing home sales to a seasonally adjusted annual rate of 5.24 million units, which is 5 percent above the 4.99 million-unit pace set in July 2008.
“The housing market has decisively turned for the better,” said Lawrence Yun, chief NAR economist. “A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales.”
Anne Arundel County figures for August 2009 are shown below.
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Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
Information is deemed reliable, but is not guaranteed.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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Anne Arundel County Real Estate Market Trends August 2009
August 14th, 2009
Categories: Home Buying, Home Selling, Investing, Market Statistics
Major US cities are reporting their first gains in monthly home prices in nearly three years, according to a recent report from the Wall Street Journal. Home prices in 15 of the 20 metropolitan areas studied were up, or remained stable, suggesting evidence that the slowdown could be easing.
The National Association of REALTORS® (NAR) also reported increased sales of new and existing homes through the month of June. Existing home sales – including single-family, townhomes, condominiums, and co-ops – increased 3.6 percent in June. Analysts are projecting an increase in 2009 existing home sales to a seasonally adjusted annual rate of 4.89 million units.
“The increase in existing-home sales occurred in all major regions of the country,” said Lawrence Yun, chief NAR economist. “We expect a gradual uptrend in sales to continue due to tax credit incentives and historically high affordability conditions.”
Anne Arundel County figures for July 2009 are shown below.
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Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
Information is deemed reliable, but is not guaranteed.
If you would like specific information on what is happening with home sales in your neighborhood, I’ll be happy to help. Call for a free, no-obligation consultation. Get the information you need to help you enjoy your the home of your dreams.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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Anne Arundel County Real Estate Market Trends July 2009
July 17th, 2009
Categories: Home Buying, Home Selling, Investing, Market Statistics
For the first time in over three years, existing home sales continued to grow for back-to-back months. According to the National Association of REALTORS® (NAR), May’s 2.4 percent gain can be attributed to greater housing affordability throughout the country, and the first-time buyer tax credit. The last such consecutive monthly increase occurred in September 2005. Housing analysts have revised their forecast and are predicting existing home sales volume of 4.77 million units for 2009, up from the 4.66 million units projected in April.
NAR chief economist Lawrence Yun has been predicting the improvement. “Historically low mortgage interest rates clearly drew buyers into the market, and housing remains very affordable even with a recent uptick in rates,” he said. “First-time buyers also are being drawn off the sidelines by the $8,000 tax credit, which is helping to absorb inventory. However, the increase in sales is less than expected because poor appraisals are stalling transactions. Pending home sales indicated much stronger activity, but some contracts are falling through from faulty valuations that keep buyers from getting a loan.”
A NAR survey reports that first-time home buyers accounted for 29 percent of transactions during the month of May. Buyer activity is up across the board, too, as the number of home buyers in May was 10 percent higher than at the same point a year ago. “This is the time of year when we see large increases in the number of repeat buyers, who are benefitting from sales to entry-level buyers,” Yun said. “Investors appear less active, but are more prevalent in areas with large price corrections.”
Freddie Mac reported that the average commitment rate for a 30-year, conventional, fixed-rate mortgage is at 4.86 percent for the month of May; the rate is down from 6.08 percent in May 2008.
Anne Arundel County figures for June 2009 are shown below.
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Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
Information is deemed reliable, but is not guaranteed.
If you would like specific information on what is happening with home sales in your neighborhood, I’ll be happy to help. Call for a free, no-obligation consultation. Get the information you need to help you enjoy your the home of your dreams.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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Anne Arundel County Maryland Real Estate Market Statistics – November 2008
November 10th, 2008
Categories: Home Buying, Home Selling, Investing, Market Statistics
The National Association of REALTORS (NAR) reported in October that existing home sales increased over 5 and a half percent — a sign of improved housing affordability. The estimated annual volume has been revised upwards from of 4.91 million to 5.18 million units for 2008, representing a 1.4 percent increase over the previous year. The combination of lower prices, higher inventory and low mortgage rates have all contributed to the increase in sales.
“This is the first time since November 2005 that home sales have been above year-ago levels,” said NAR president, Richard Gaylord. “Credit tightened at the end of September, but the improvement demonstrates that buyers who have been on the sidelines want to get into the market to make a long-term investment in their future.”
Freddie Mac is reporting a recent drop in interest rates for the 30-year, conventional, fixed rate mortgage, averaging 6.04 percent in September, down from 6.48 percent in August. Despite the lower rates, speculative investors have not yet returned to the market, according to Lawrence Yun, NAR chief economist. Yun reports, “80 percent of current buyers are purchasing a primary residence, which is a bit higher than historic norms.”
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Total housing inventories were down 1.6 percent for the month of September, marking two consecutive monthly declines since inventory levels peaked in July.
Anne Arundel County figures for October 2008 are shown below.
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Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
Information is deemed reliable, but is not guaranteed.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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Anne Arundel Real Estate Market Statistics – October 2008
October 10th, 2008
Categories: Home Buying, Home Selling, Investing, Market Statistics
The National Association of REALTORS reported in late September that recent sales for existing homes declined slightly, to an estimated annual volume of 4.91 million units for 2008. Recent tightening in mortgage lending has created challenges for some of today’s home buyers. According to Freddie Mac, the thirty year fixed rate mortgage hovered around 6.5 percent during the month of August, up slightly from the month before.
Officials are hoping that recent actions taken by the Federal government will create stability in the housing market. Lawrence Yun, chief economist for the National Association of REALTORS, says, “With higher loan limits and a beefing up of the FHA program, all the mechanisms have been falling into place to increase mortgage availability.”
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Statistics from the National Association of REALTORS®
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Anne Arundel County figures for September 2008 are shown below.
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Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
Copyright 2008 – Information deemed reliable, but is not guaranteed.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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Intentional Investors Buying Maryland Real Estate
August 19th, 2008
Categories: Home Buying, Home Selling, Investing, Living in Annapolis, Market Statistics
How’s the real estate market? Everyone is asking me these days. Recent headlines in The Capital, our local Annapolis newspaper, include:
Rumor has it that some of the new upscale chain restaurants in Park Place near Murray Hill may be closing. What will happen with Morton’s and Fado? Today’s Wall Street Journal reports:
Things are looking pretty bleak, one might say. Of course, it all depends on your perspective.
Here are some other facts from our local multiple listing service:
For those who are intentional about building wealth through real estate investing, this market is outstanding. Remember “Buy Low, Sell High”? Now is the time to find motivated sellers and acquire properties at great prices with excellent financing.
We are increasing our services to investors, so if you want to buy more rental property in Maryland, and you want to work with someone who understands your vision, let us know.
We’re building a new web site at http://www.IntentionalInvestor.com
Check it out and let us know your thoughts and suggestions.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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Anne Arundel County Maryland Real Estate Market Statistics – August 2008
August 19th, 2008
Categories: Home Buying, Home Selling, Market Statistics
Despite the decrease, REALTORS® are reporting activity in all regions across the country. NAR president Richard F. Gaylord explains, “Timing the market can be very tricky, which is why home buyers should always have a long-term view to build wealth.”
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To stimulate market activity, the Federal Housing Administration has increased loan limit guarantees for 2008. FHA programs are available with a modest 3 percent down payment, and allow borrowers more buying options when purchasing a home. The national median existing home price was reported at $215,100 in June, down from a year ago when the median price was $229,000 for all housing types.
Anne Arundel County figures for July 2008 are shown below.
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Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
Copyright 2008 – Information deemed reliable, but is not guaranteed.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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Anne Arundel County Maryland Real Estate Market Statistics – July 2008
July 29th, 2008
Categories: Home Buying, Home Selling, Market Statistics
The national median home price was reported at $208,600 in May. According to NAR President Richard Gaylord, “Home buyers are starting to get off the fence and into the market, drawn by drops in home prices in many areas and armed with greater access to affordable mortgages,” he said. “Today’s buyer plans to stay in a home for 10 years, which is a good strategy for building long-term wealth.”
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Freddie Mac reported the national average 30-year, conventional, fixed-rate mortgage rose to 6.04 percent in May, up from 5.92 percent in April. Despite the recent increase, overall mortgage rates are down from 6.27 percent, available May 2007.
Existing home inventory is reported at 4.49 million units. According to Lawrence Yun, chief NAR economist, “The large supply of homes on the market clearly favors buyers, and it should take several months to draw the inventory down. Stabilization in home prices can only occur with buyers returning to the market, so we are encouraged by rising home sales, particularly in distressed markets.”
A number of areas nationally are experiencing increased activity over May 2007, including Sacramento, the San Fernando Valley and Monterey County in California; Sarasota, Florida, and Battle Creek, Michigan.
Anne Arundel County figures for June 2008 are shown below.
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Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
Copyright 2008 – Information deemed reliable, but is not guaranteed.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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