MARCH 2009 Newsletter
Housing Trends eNewsletter is filled with U.S. Census Bureau key market indicators, consumer videos, blogs, a real estate glossary, mortgage rates and calculators, consumer articles, real estate radio, REALTOR.com local community reports and local and national real estate sales and price activity provided by local MLSs and the National Association of REALTORS®.
What's Happening in Local Markets?
Local Market Reports for 150 Metropolitan Housing Markets *Local Prices & State Sales
*Prepared by National Association of REALTORS®
**Prepared by Clarus MarketMetrics
Penny Michael Messages
Buying is now cheaper than renting in 74 percent of the nation’s largest cities. Low home prices and “rock-bottom” interest rates as well as tax advantages of homeownership are the reasons why it’s now cheaper to BUY a 2-bdrm home than to rent one. Check out this CNN Money article with the details. more...
Home Ownership matters…to people, to communities, and to America. Why? • For every two homes sold, one job is created in the U.S. • Each purchase generates as much as $60,000 in economic activity over time. more...
Disclaimer:The views, opinions, statements and/or ideas expressed in this Message Section do not reflect the ideas, policy, position, views or opinion of eFrogPond,Inc.
Community Reports on REALTOR.com
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Compare Community Statistics
* Shopping and Groceries
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* Income
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* Net Worth
* Cost of Living
* Climate
Source: REALTOR.com
National Real Estate Market Update
Housing Stimulus and Stabilization Will Help Economic Recovery
WASHINGTON, February 12, 2009 - The following is a statement by National Association of Realtors® President Charles McMillan:
"The American Recovery and Reinvestment Act is important for the U.S. economy and contains some important housing provisions. Eliminating the repayment provision in the $7,500 first-time home buyer tax credit will help bring buyers to the market and reduce housing inventory. More...
4th Quarter Metro Area Home Prices Down as Buyers Purchase Distressed Property
WASHINGTON, February 12, 2009 - Most metropolitan area median home prices, impacted by distressed sales, trended down in the fourth quarter from a year earlier. At the same time, existing-home sales rose in only six states from the fourth quarter of 2007, according to the latest survey by the National Association of Realtors. More...
January Existing-Home Sales Fall, Inventory Down
WASHINGTON, February 25, 2009 - Existing-home sales declined in January with some buyers waiting to see how details of the economic stimulus package would affect them, according to the National Association of Realtors®. At the same time, inventories fell to a two-year low. More...
National Real Estate Market Articles
Source:NATIONAL ASSOCIATION OF REALTORS®.
February 2009 Existing Home Statistics
Source: NATIONAL ASSOCIATION OF REALTORS®.
Metropolitan Prices & State Sales
View Prices / % Changes for 159 Cities & Metropolitan Areas
Economists' Commentaries provide an in-depth look at trends and current news related to housing and the real estate market.
Click here
Contact Me for all of your Real Estate needs Penny Michael Coldwell Banker United, Realtors - Cy-Fair
Consumer Tips & Cool Properties
Take the Stress out of Buying a Home
Which emotion surges higher when buying a home excitement or anxiety? Either or both can take significant hold during the homebuying process. Imagining the possibilities of your new house can bring great joy, while the financial implications of making such a purchase create worries for most people. You can take steps to reduce the stress, though, and focus on the enjoyable aspects of buying a new home. More...
Shop Around for Lower Insurance Rates
Does it surprise you that Texas homeowners pay more for homeowners insurance than residents of any other state in the U.S.? You may wonder why residents of Florida with all of its hurricanes and California with earthquakes, mudslides, and wildfires don’t pay more. Average Texas rates easily surpass those states, though, according to information from the National Association of Insurance Commissioners. More...
Rental Property Owned by Celebrity
$28,000 buys you a week in Steve Martin's villa on the Caribbean island of St. Barthelemy. More...
Take Another Look at the Housing Market- This Might be Best Time to Buy
First-time Homebuyers are big winners. They're in a unique position to take advantage of the declines in housing prices and move right in. Being a buyer's market for the first time in many years, renter's impossible dream of homeownership are coming true. More...
Mortgage Rates
Mortgage Calculator
National
Housing Indicators
Existing Home Sales (January) 4.49 million units*
Existing Home Median Price (January) $170,300
Housing Starts (January) 466,000 units*
New Home Sales (January) 309,000 units*
*seasonally adjusted annual rate SourceNATIONAL ASSOCIATION OF REALTORS®.
National
Economic Indicators
Homeownership Rate
4th Qtr 08
4th Qtr 07
67.5%
67.8%
The homeownership rate in the fourth quarter 2008 (67.5%) was not statistically different from the fourth quarter 2007 rate (67.8%). No region showed a significant change from corresponding rates in the fourth quarter 2007.
New Home Sales
Jan 09
Dec 08
-10.2%
-9.5%
Sales of new one-family houses in January 2009 were at a seasonally adjusted annual rate of 309,000. This is 10.2% below the revised December 2008 estimate of 344,000.
Information contained in this eNewsletter is compiled from a variety of sources. The accuracy and authenticity has not been verified by eFrogPond, Inc., is subject to change, is provided "as is" and is not guaranteed. The views expressed herein do not necessarily reflect those of eFrogPond, Inc.
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Buying is now cheaper than renting in 74 percent of the nation’s largest cities. Low home prices and “rock-bottom” interest rates as well as tax advantages of homeownership are the reasons why it’s now cheaper to BUY a 2-bdrm home than to rent one. Check out this CNN Money article with the details. more...
Metropolitan Prices & State Sales
National Home Sales
-5.3%
