Whether you want to believe it or not, more indicators pop up each week that point to improvements in the housing market. Either we're at the bottom now, or we will be soon.

Of course, I just bought my first ever home in September of 2009 (a short-sale in Montgomery County, Md.) so perhaps I'm biased. But even in the worst markets there are signs of life in housing that should encourage investors and homebuyers alike.

Here are three top signs that the housing market has bottomed out.

Continue reading Three Signs Housing Has Bottomed

Three Signs Housing Has Bottomed originally appeared on BloggingStocks on Thu, 13 May 2010 12:40:00 EST. Please see our terms for use of feeds.

The race is on for first-time home buyers to close their contracts before April 30. That is when the $8,000 first-time home buyers credit ends. Buyers who are selling a home and buying a new home are eligible for $6,500.

This last minute rush has bumped up the National Association of Realtor's Pending Home Sales Index 8.2% to 97.6, from 90.2 in January. The index is 17.3% higher than February 2009.

Continue reading Pending Home Sales Index Surges 8.2%

Pending Home Sales Index Surges 8.2% originally appeared on BloggingStocks on Mon, 05 Apr 2010 13:00:00 EST. Please see our terms for use of feeds.

The so-called cruelest month has begun. And this coming week's economic calendar for the U.S. starts off with the ISM nonmanufacturer's survey results for April and NAR's pending home sales for February on Monday morning. This glimpse at the service and housing sectors will be followed by March's consumer credit numbers Monday afternoon. Then things are pretty quiet until Friday's release of factory orders and wholesale trade numbers for February.

Between the Monday and Friday economic numbers will come the release on Tuesday of the minutes of the March 16 FOMC meeting, a record of the Fed's most recent thinking on monetary policy.

Continue reading The Week in Preview: A Quiet Start to the Cruelest Month

The Week in Preview: A Quiet Start to the Cruelest Month originally appeared on BloggingStocks on Sun, 04 Apr 2010 12:30:00 EST. Please see our terms for use of feeds.

According to the National Association of Realtors (NAR), resales of U.S. homes and condominiums slipped 7.2% during January. This drop brought the seasonally adjusted annual rate to 5.05 million, which was the lowest in seven months. January's drop marks the second-straight month of drops, following up December's record plunge of 16.2%.

A spokesman for NAR noted that this is "not good news. ... There is rising concern about the strength of the housing recovery." The group is holding out hope that the Spring will be better, as the latest tax break will expire and potential job growth could help push home sales higher. The good news is that the pace of sales in January outpaced those from a year earlier by 11.5%. The current inventory of unsold homes stands at a nearly 8-month supply at the current sales pace.

Continue reading Existing Home Sales Drop to a Seven-Month Low

Existing Home Sales Drop to a Seven-Month Low originally appeared on BloggingStocks on Fri, 26 Feb 2010 12:00:00 EST. Please see our terms for use of feeds.

Continue reading Under the Radar: NAR Economist Sees Healthy Rise in Existing Home Sales in 2010

Under the Radar: NAR Economist Sees Healthy Rise in Existing Home Sales in 2010 originally appeared on BloggingStocks on Tue, 02 Feb 2010 14:00:00 EST. Please see our terms for use of feeds.

Continue reading National Association of Realtors asks Greenspan to speak at event

National Association of Realtors asks Greenspan to speak at event originally appeared on BloggingStocks on Thu, 14 May 2009 15:40:00 EST. Please see our terms for use of feeds.

Continue reading Home prices continue to drop, but is it really a bad thing?

Home prices continue to drop, but is it really a bad thing? originally appeared on BloggingStocks on Thu, 12 Feb 2009 17:04:00 EST. Please see our terms for use of feeds.

Continue reading Are U.S. homes undervalued?

Are U.S. homes undervalued? originally appeared on BloggingStocks on Fri, 05 Dec 2008 14:56:00 EST. Please see our terms for use of feeds.

People buying a home for the first time are usually young. They are probably at the beginning of their careers, which means that they do not have much money. In a recession, they would seem to be poor credit risks. For these people, getting a home mortgage should be nearly impossible.

But, a recession does strange things and turns some assumptions on their heads. It turns out the the lower end of the real estate market is getting so cheap that buyers can pick and choose an incredibly large inventory which, in many cases, sellers have to dump at any price.

According to the AP, "First-time buyers are much more flexible in entering the market because they aren't concerned about selling an existing home," National Association of Realtors Chief Economist Lawrence Yun said in a statement. Good point. Most people can't sell their current homes. They won't be in the market for a new one at all. Because of that, dynamic first-time buyers represented 41% of all real estate transactions in 2007.

There is a bit of hidden good news in the NAR analysis. First-time home buyers have a "plentiful" supply of unusually inexpensive homes and an unprecedented opportunity to negotiate on price. As the "retail value" mid-priced and higher-priced homes continues to drop, buyers will come back into those markets as well. Some of the opportunities will just be too good to resist.

Douglas A. McIntyre is an editor at 247wallst.com.

A myth about first-time home buyers originally appeared on BloggingStocks on Sun, 09 Nov 2008 11:40:00 EST. Please see our terms for use of feeds.

Realtors expect further housing slump originally appeared on BloggingStocks on Tue, 11 Sep 2007 18:15:00 EST. Please see our terms for use of feeds.

Continue reading Lower home sales lead to falling prices - not necessarily a bad thing

Lower home sales lead to falling prices - not necessarily a bad thing originally appeared on BloggingStocks on Wed, 15 Aug 2007 17:00:00 EST. Please see our terms for use of feeds.

Some economists, including ones cited in a recent story by the New York Times and the authors of "Freakonomics," don't have much use for realtors.

Research cited by the Times showed that people who sold their homes through realtors didn't get a higher price than those who sold it themselves, although agents sold homes faster. Though the researchers caution against extrapolating their data to a nationwide trend, it's likely going to happen. Of course, the National Association of Realtors has its own studies showing the exact opposite conclusion.

The growth of sale-by-owner homes would seem to be an inevitable consequence of the housing slump since people are going to try and squeeze every last dollar of profit from the sale of what is likely their most valuable asset. But realtors don't seem to be suffering.

In fact, they are making higher commissions, according to writer Kenneth Hamey of the Washington Post Writers Group, writing for Realtors Magazine Online.

Properties simply need more marketing muscle to sell, which means that real estate practitioners must work harder and spend more money in order to help the sellers get top dollar," he writes. "Some agents also are adding services, such as staging or professional photography, to get the listings noticed in markets where inventory is supple."

Maybe there are different methodologies in the studies done by economists and the industry. Regardless, I don't think the job of the realtor will ever go away completely. Buying a home is pretty scary, particularly if it's your first time, and it can be comforting to have someone guide you through the process. Plus, there are thousands of details that are too much bother for many people.

Even so, I'll sell my home myself if my wife and I ever decide to move. The economics are just too compelling to ignore.

Who needs realtors? originally appeared on BloggingStocks on Mon, 11 Jun 2007 16:45:00 EST. Please see our terms for use of feeds.

More weakness in the housing market originally appeared on BloggingStocks on Fri, 25 May 2007 12:15:00 EST. Please see our terms for use of feeds.