ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL – 09/19/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL – 09/19/2012

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

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Sales of existing homes were up 7.8 percent from July to August to a seasonally adjusted annual rate of 4.82 million,  the National Association of Realtors said today.

 

Looking back a year, home sales increased 9.3 percent in August. At $187,400, the national median price for all housing types including single-family homes, townhomes, condominiums and co-ops was up 9.5 percent from a year ago was up 9.5%

NAR is now forecasting that despite tight credit conditions, 2012 home sales will be up 8 to 10 percent from last year. If most qualified buyers could obtain financing, NAR projects home sales would be about 10 to 15 percent stronger.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

NAR estimated there were 2.47 million existing homes listed for sale at the end of August, a 6.1-month supply at the current sales pace. That’s down from a 6.4-month supply in July, and an 18.2 percent decline from the 8.2-month supply on the market a year ago.

Many analysts view a six-month supply of housing as an even balance between buyer and seller demand.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

First-time buyers accounted for 31 percent of purchasers in August, down from 34 percent in July. Distressed homes sold for 19 percent below market value, on average, and accounted for 22 percent of August’s sales.Yet, All-cash deals accounted for 27 percent of August’s sales — the same as July and down two percentage points from last August.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

All U.S. regions saw existing-home sales and prices swell in August from a year ago — except the West, where sales were even — with the Midwest leading the way with a 17.9 percent year-over-year increase to 1.12 million units. The median price in the Midwest also rose in August from a year ago, up 7.8 percent to $152,400.

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