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Existing-home sales take a sleigh ride to the sky with highest jump since 2021

Housing Wire

The National Association of Realtors (NAR) reported that existing-home sales in November rose to a seasonally adjusted annual rate of 4.15 The jump in sales gives the market momentum heading into 2025, which is expected to outperform 2024. The growth also bucks the historic trend of sales dropping between October and November.

Sales 459
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Surging for-sale inventory turns Florida into a buyer’s market

Housing Wire

According to a report from Redfin, for-sale inventory at the end of January in Florida was up 22.7% Active listings landed at 212,437 at the end of January, a staggering 19.4% With this many houses for sale, a home basically needs to look like its out of a magazineand be priced fairlyto get multiple offers. year over year.

Sales 387
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How a luxury real estate agent fell for a listing scam

Housing Wire

Why listing scams are on the rise Unlike home sales, land transactions often skip in-person meetings or property access, which makes it easier for scammers to impersonate legitimate owners without detection. Watch for these red flags Repeated use of the same property Scammers often recycle the same land listings. Use a service.

Agents 361
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Land sales volume remains high, but slower than pandemic peak

Housing Wire

Land sales volume continued to exceed the five-year average of $650 million in gross sales during the first six months of 2023, but gross sales are off from the record-setting pace of 2021 and 2022, according to Farmers National Company mid-year land values report , released Tuesday.

Land 370
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The Federal Reserve’s housing recession dilemma

Housing Wire

The existing home sales market does not align with their dual mandate of ensuring stable personal consumption expenditures (PCE) or consumer price index (CPI) prices, as these measures account for rent. Instead, the existing home sales market is more about transferring commissions rather than causing significant job losses in the economy.

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Why title insurance is essential to the U.S. system of property rights

Housing Wire

By contrast, many European countries have a centralized, government-managed land registration system, which requires government review before property transfers are effective. Once the parties have closed, it is only then that we place the transfer document (deed) in the government land records. Nor are the land records authoritative.

Title 418
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Here’s why we won’t build millions of new homes

Housing Wire

We should note that existing home sales are in the third consecutive year of the lowest sales on record when you adjust to the workforce size. When it comes down to it, the supply and demand model works and new home sales currently today are still below levels we saw during the tech recession in 2001.