ExistingHome Sales Improve 24 in December

first_img January 23, 2015 515 Views Share in Daily Dose, Data, Featured, News Existing-home sales finished out 2014 at a brisk pace, even as the stock of available homes fell.The National Association of Realtors (NAR) said Friday that sales of pre-owned homes rose 2.4 percent month-over-month in December to a seasonally adjusted annual rate of 5.04 million. It was the sixth time in the past seven months in which existing-home sales topped an annual rate of 5 million.The group estimates existing-home sales totaled 4.93 million for all of 2014, a 3.1 percent decline from the year prior. Much of that decline can be traced to the year’s early months, when transactions came in sluggish.”Home sales improved over the summer once inventory increased, prices moderated and economic growth accelerated,” said NAR Chief Economist Lawrence Yun. “Sales were measurably better in the second half—up 8 percent compared to the first six months of the year.”One area that worsened in December was the supply of available homes for sale, which fell 11.1 percent to an estimated 1.85 million, NAR said. At the current sales pace, December’s inventory would last about 4.4 months, well below the six-month balance NAR says is normal.Yun says December’s decline inventory “raises some affordability concerns” for the coming months, limiting buyers’ options and pushing price appreciation further.”Housing costs—both rents and home prices—continue to outpace wages and are burdensome for potential buyers trying to save for a downpayment while looking for available homes in their price range,” he said.The national median existing-home price in December was $209,500, NAR reported, an increase of 6 percent year-on-year.Higher costs would be especially burdensome for would-be first-time homebuyers, who accounted for only 29 percent of December transactions, NAR said. A separate survey released last year showed that the annual share of first-time buyers was recently down to its lowest in nearly three decades. However, other reports put that figure at closer to 50 percent.No matter the current number, NAR hopes to see first-time buyer share improve this year as lenders start to offer lower down payment options and the Federal Housing Administration (FHA) reduces annual insurance premiums.”NAR is a strong support of the FHA and its vital role in the mortgage marketplace for homebuyers,” said NAR President Chris Polychron. “Realtors support responsible lending to qualified borrowers and the move to lower premiums will enable more buyers to enter the market while continuing to protect taxpayers from the risky lending practices that led to the housing crash.”Existing-home sales improved in the country’s more active housing regions, rising 3.8 percent to a rate of 2.17 million in the South and 9.8 percent to a rate of 1.12 million in the West.The Northeast and Midwest weakened, meanwhile, posting monthly declines of 2.9 percent (to a rate of 660,000) and 3.5 percent (to a level of 1.09 million), respectively.center_img Existing-Home Sales For-Sale Homes Housing Affordability National Association of Realtors 2015-01-23 Tory Barringer Existing-Home Sales Improve 2.4% in Decemberlast_img read more

The team could really go in any direction which i

first_imgThe team could really go in any direction, which is not a bad thing considering that at pick number 20, a lot is going to happen before they have a chance to make a selection. But that’s where having a list like the Cardinals do — that goes to 120 but has at least 20 players they are really high on — comes in handy. There won’t be any reason to panic into moving up to nab a guy or worry that their target will be taken. If it happens, just move on to the next one on the list.“You’ve just got to be patient and trust your board,” Keim said. “I think if you trust the way that you have the players ranked, you know that at the end of the day we’re going to get one of those players ranked one through 20, and we feel good about every one of those guys.” Comments   Share   “We went to the board with about 591 players and just this morning we finished up with 120 players on our draft board, so we’ll draft off that board that has 120 players.”Go ahead and adjust your mock draft accordingly.As of now, the Cardinals have just six picks in the draft, with their first selection being the 20th overall. The second-year GM said there are at least 20 players they like in this draft, guys who would fit with their roster and make an impact in 2014. What position they play, though, is still a mystery. That’s a good thing.Coming off a 10-6 season, the Cardinals don’t really have any obvious needs. Yes, they could afford to improve along the offensive line. They probably wouldn’t mind adding a pass rushing linebacker or a safety, either. And according to many analysts, the team may be after its quarterback of the future next week. “The guy that has the most passion, the best football player available because we really don’t have a glaring need,” Arians said of what he’s looking for at 20. “And a guy that would play for free; a guy that loves to play the game. “You’re going to pay him anyway, but he’d play for free. He brings that kind of passion and excitement to your building.” Top Stories The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo TEMPE, Ariz. — Arizona Cardinals general manager Steve Keim and head coach Bruce Arians were not ready to divulge who they would like to draft next week when they spoke to the media Thursday at their Tempe training facility.They did, however, narrow the list down a bit.“We started this process last May with our college scouts who went on the road and looked at 13,000 names across college campuses, seniors and draft eligible juniors,” Keim said. “And whittled that number down to a little less than 2,000 NFL prospects for us. Former Cardinals kicker Phil Dawson retires Derrick Hall satisfied with D-backs’ buying and selling Grace expects Greinke trade to have emotional impactlast_img read more