Tuesday, September 29, 2009

Number Crunching Home Sales

This article compares the Year-to-Date home sales from 2008 and 2009.
It is a “sneak peek” of sales in the Albuquerque and surrounding area market from January 1 to August 31. Click here to read his findings.

Tuesday, September 15, 2009

Home Sales on Record Roll

Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, NAR says. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008. "The recovery is broad-based across many parts of the country," says NAR Chief Economist Lawrence Yun. "Housing affordability has been at record highs this year with the added stimulus of the first-time buyer tax credit."


Click here for the current reports.

Friday, September 11, 2009

Stabilization and Recovery in Commercial Markets

"Back from the Brink… But What Next?" a new report issued by CB Richard Ellis sees some stabilization and recovery for the much of the worlds' commercial real estate markets at the mid-point 2009, with one notable exception: The U.S. The report notes the obvious indicators of weak market conditions but also identifies some positive developments, including initial signs of regional recovery. Highlights include an uptick in investment sales volume in Asia where the market has adjusted quickly and pricing may have hit bottom in some cities; stabilization of property markets in the Pacific region after 18 months of turmoil; and activity in the EMEA (Europe, Middle East and Africa) investment market inching up to €13 billion, from €11.6 billion in Q1 2009, with some expectation for further improvement in Q4 '09. Unfortunately, the CBRE report sites no signs of recovery for the U.S., where vacancy rates in the office, industrial and retail property markets continued to rise in Q2 2009. Read more details in the CBRE press release or download full report.

Thursday, September 10, 2009

A Bright Real Estate Outlook

The stock market may be jumping around and jittery, but housing numbers are headed in just one direction, and at least for the time being, that's better and better. Pending home sales jumped again. They were up by 3.2 percent for the month of July, according to the National Association of Realtors. That's the sixth straight month of increases. The pending sales index is now at its highest level since June of 2007, and is 12 percent above a year ago...
Continue reading "Real Estate Outlook: A Bright Market"

August 2009 Market Report for Albuquerque and Rio Rancho

Monthly Highlights
• Pending sales for single-family, detached homes are up 12.69% from the previous month and increased 36.38% from the previous year.
• Single-family, detached homes sales for Albuquerque show an increase of 0.7% from the previous year.
• Single-family, detached home sales for Rio Rancho are up 8.33% from the previous year.
• Home sales for condos/townhomes in the Southwest MLS market areas are up 34.38% from the previous year...
Continue reading "August 2009 Market Report"

Tuesday, September 1, 2009

Strong Gain in Home Sales

For the first time in five years, existing-home sales have increased for four months in a row, NAR says. The monthly increase in July is the largest in 23 years, rising 7.2 percent to an annual rate of 5.24 million units.