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Sunday, January 24, 2010
Thursday, January 21, 2010
Interest rates
The 30-year fixed-rate mortgage averaged 4.99 percent for the week ending Jan. 21, down from last week when it was 5.06
Saturday, January 16, 2010
House under agrrement for December up
Pending Home Sales Up for Sixth Straight Month in December
1/5/2010
WALTHAM, Mass. – January 5, 2010 – The Massachusetts Association of REALTORS® (MAR) reported today that the number of single-family homes put under agreement in December was up 5 percent over the same time last year, while condominiums were up 26 percent. December marks the sixth straight month that the number of homes put under agreement had increased over the year before.
The tracking of signed purchase and sales agreements (also called “pending sales”) provide reliable information about where the real estate market is heading in coming months.
“It is a positive sign to see that pending sales went up each month in the second half of the year as the real estate market is showing signs of improvement,” said 2010 MAR President Kevin Sears, broker/co-owner of Sears Real Estate in Springfield. “Now with the extension and expansion of the homebuyer tax credit until April 30, we should see this trend continue over the winter months, a traditionally slower time for home sales.”
The number of single-family homes put under agreement in December was up 5 percent compared to the same time last year (2,615 homes in 2008 to 2,743 homes in 2009). On a month-to-month basis, single-family homes put under agreement were down 19 percent from 3,387 homes in November.
The number of condos put under agreement in December was up 26 percent compared to December 2008 (922 units in 2008 to 1,248 units in 2009). On a month-to-month basis, condos put under agreement were down 9.4 percent from 1,379 units in October.
About Pending Sales:
A pending sale or a sale “under agreement” is when the buyer and seller agree on the terms of the sale of a home and have a signed purchase and sale agreement, but have yet to close and be recorded as such. MAR is the only organization which compiles this statewide information from Multiple Listing Services each month.
1/5/2010
WALTHAM, Mass. – January 5, 2010 – The Massachusetts Association of REALTORS® (MAR) reported today that the number of single-family homes put under agreement in December was up 5 percent over the same time last year, while condominiums were up 26 percent. December marks the sixth straight month that the number of homes put under agreement had increased over the year before.
The tracking of signed purchase and sales agreements (also called “pending sales”) provide reliable information about where the real estate market is heading in coming months.
“It is a positive sign to see that pending sales went up each month in the second half of the year as the real estate market is showing signs of improvement,” said 2010 MAR President Kevin Sears, broker/co-owner of Sears Real Estate in Springfield. “Now with the extension and expansion of the homebuyer tax credit until April 30, we should see this trend continue over the winter months, a traditionally slower time for home sales.”
The number of single-family homes put under agreement in December was up 5 percent compared to the same time last year (2,615 homes in 2008 to 2,743 homes in 2009). On a month-to-month basis, single-family homes put under agreement were down 19 percent from 3,387 homes in November.
The number of condos put under agreement in December was up 26 percent compared to December 2008 (922 units in 2008 to 1,248 units in 2009). On a month-to-month basis, condos put under agreement were down 9.4 percent from 1,379 units in October.
About Pending Sales:
A pending sale or a sale “under agreement” is when the buyer and seller agree on the terms of the sale of a home and have a signed purchase and sale agreement, but have yet to close and be recorded as such. MAR is the only organization which compiles this statewide information from Multiple Listing Services each month.
Spending index down but near high since 2004
RISMEDIA, January 16, 2010—The Deloitte Consumer Spending Index dipped slightly in December 2009, primarily due to a decline in real wages, but it remains near its highest level since 2004. The Index attempts to track consumer cash flow as an indicator of future consumer spending.
“The most notable shift in the Index results from inflation, primarily due to rising energy prices, which is undermining the gains in real hourly earnings,” said Carl Steidtmann, chief economist with Deloitte Research, a subsidiary of Deloitte Services LP, and author of the monthly Index. “This increase in prices is offsetting the improvement in other components of the Index that boost consumer purchasing power, including a steadily falling tax burden, a sustained drop in initial unemployment claims over the past several months and signs of stabilization in the housing market.”
The Index, comprising four components- tax burden, initial unemployment claims, real wages and real home prices- slipped to 4.63%, from an upwardly revised gain of 4.66% a month ago.
“Inflation can significantly change the pricing environment for retailers, particularly at a time when consumers are already closely monitoring their spending levels,” said Stacy Janiak, vice chairman and Deloitte’s U.S. Retail leader. “Retailers that have been focused on lowering product costs and preserving margins should keep their foot on the pedal to maintain and accelerate those efforts given the prospect for continued inflationary pressure. Efforts to seek out less costly product and supply alternatives, grow private label offerings and identify greater supply chain efficiencies should remain high on retailers’ lists of resolutions for the new year.”
Highlights of the Index include
Tax Burden: The tax burden, after stabilizing, is again moving lower. The average tax burden is at its lowest level in more than 40 years due to the effects of the stimulus bill passed in February 2009.
Initial Unemployment Claims: Initial claims have come down sharply over the past six months, which historically has been a reliable signal of economic recovery. Claims are down more than 200,000 from their recession peak and are down from a year ago.
Real Wages: Real wage growth, which had been the biggest contributor to the Index in recent months, is beginning to slip as energy prices are pushing up the price level and hurting the real purchasing power of modest wage growth.
Real Home Prices: The pace of decline in home prices continues to slow on a year-over-year basis. Government efforts to forestall foreclosures, coupled with the extension and expansion of the tax credit for home buyers have brought some stability to home prices. The decline in home prices has made home buying much more affordable.
For more information, visit www.deloitte.com [1].
“The most notable shift in the Index results from inflation, primarily due to rising energy prices, which is undermining the gains in real hourly earnings,” said Carl Steidtmann, chief economist with Deloitte Research, a subsidiary of Deloitte Services LP, and author of the monthly Index. “This increase in prices is offsetting the improvement in other components of the Index that boost consumer purchasing power, including a steadily falling tax burden, a sustained drop in initial unemployment claims over the past several months and signs of stabilization in the housing market.”
The Index, comprising four components- tax burden, initial unemployment claims, real wages and real home prices- slipped to 4.63%, from an upwardly revised gain of 4.66% a month ago.
“Inflation can significantly change the pricing environment for retailers, particularly at a time when consumers are already closely monitoring their spending levels,” said Stacy Janiak, vice chairman and Deloitte’s U.S. Retail leader. “Retailers that have been focused on lowering product costs and preserving margins should keep their foot on the pedal to maintain and accelerate those efforts given the prospect for continued inflationary pressure. Efforts to seek out less costly product and supply alternatives, grow private label offerings and identify greater supply chain efficiencies should remain high on retailers’ lists of resolutions for the new year.”
Highlights of the Index include
Tax Burden: The tax burden, after stabilizing, is again moving lower. The average tax burden is at its lowest level in more than 40 years due to the effects of the stimulus bill passed in February 2009.
Initial Unemployment Claims: Initial claims have come down sharply over the past six months, which historically has been a reliable signal of economic recovery. Claims are down more than 200,000 from their recession peak and are down from a year ago.
Real Wages: Real wage growth, which had been the biggest contributor to the Index in recent months, is beginning to slip as energy prices are pushing up the price level and hurting the real purchasing power of modest wage growth.
Real Home Prices: The pace of decline in home prices continues to slow on a year-over-year basis. Government efforts to forestall foreclosures, coupled with the extension and expansion of the tax credit for home buyers have brought some stability to home prices. The decline in home prices has made home buying much more affordable.
For more information, visit www.deloitte.com [1].
Sunday, January 10, 2010
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