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October 13, 2009

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Home Sellers in U.S. Cut Prices by $28.4 Billion (Oct 9) Daniel Taub, Bloomberg Oct. 8 (Bloomberg) -- U.S. home sellers cut their asking prices by a total of $28.4 billion to attract buyers as the real estate recovery stalled, Trulia Inc. said. The average discount was 10 percent as of Oct. 1, the San Francisco-based real estate data provider said today. Homes listed for more than $2 million were cut the most, with owners taking an average of 14 percent off the original price. Luxury homes accounted for 25 percent of all of the reductions. Sales of existing U.S. homes unexpected... Read More

July 19, 2010

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Remember Jumbo Mortgages - They're Back! (CNBC) Diana Olick, CNBC Amid all the double-dip discussions in the housing market is an odd ray of hope on the high end. With little to no fanfare, it appears jumbo loans are not only getting cheaper, they're getting easier to obtain. After several years of stagnation in high-end housing, thanks to the disappearance of the jumbo market, things are moving yet again. A quick check on Bankrate.com shows the 30-year fixed jumbo at around 5.50 percent, and Citibank last week reported applications for jumbos up 30 percent just over the last 6... Read More

September 2, 2010

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Pending Home Sales Post Surprise Jump in July (CNBC) Reuters Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming. Stockbyte | Getty Images The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in July, increased 5.2 percent to 79.4 from June. June contracts were revised to show a slightly bigger 2.8 percent decline instead of the previously reported 2.6 percent fall. Compared to the July last year,... Read More

September 22, 2010

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Home Prices Worse Than Expected Diana Olick Home Prices Worse Than Expected Published: Wednesday, 22 Sep 2010 | 12:37 PM ET Text Size By: Diana Olick CNBC Real Estate Reporter Buzz Facebook Twitter More Share Prices lag sales. Say it again. Chant it if you will. On the way up and on the way down, that's the way it works. We were therefore expecting to see a big drop in home prices a few months after the expiration of the home buyer tax credit, not now. Well they're here now. Today the FHFA, overseer of Fannie and Freddie, released its monthly home price report which... Read More

September 23, 2010

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Existing-Home Sales Move Up in August NAR Existing-Home Sales Move Up in August Washington, September 23, 2010 Existing-home sales rose in August following a big correction in July, according to the National Association of Realtors®. Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual rate of 4.13 million in August from an upwardly revised 3.84 million in July, but remain 19.0 percent below the 5.10 million-unit pace in August 2009. Lawrence Yun, NAR chief ec... Read More