From our friends at Realtor.com
Propelled by the first-time homebuyers tax credit, nearly half of home sales are now being made by first-time purchasers, according to an industry report released Friday. In fact, 47 percent of all Americans who purchased homes this year had not owned one during the previous three years, according to a press release Friday from the National Association of Realtors (NAR). (more…)

From our friends at Realtor.com
The economic and political challenges the United States faces are unprecedented but former Secretary of State Condoleeza Rice offered a generous serving of optimism with a helping of patriotism to the thousands of REALTORS® gathered Saturday at the 2009 Conference & Expo general session. (more…)

From our friends at Realtor.com
Most states continued to experience rising existing-home sales in the third quarter, with prices moderating in many metro areas, according to the latest survey by the NATIONAL ASSOCIATION OF REALTORS®.

Total state existing-home sales, including single-family and condo, increased 11.4 percent to a seasonally adjusted annual rate of 5.30 million units in the third quarter from 4.76 million units in the second quarter, and are now 5.9 percent above the 5.01 million-unit pace in the third quarter of 2008. (more…)

Tags: Real Estate News

From our friends at Realtor.com
Expected to contribute approximately $22 billion to the economy, Congress overwhelmingly passed a bipartisan measure this week extending the $8,000 home buyer tax credit to April 30, 2010. (more…)

From our friends at Realtor.com
An important reason that the housing market is stabilizing is the reduction in inventory. Current sales and inventories suggest that supply will decline below the pre-2006 levels by the end of 2009. (more…)

From our friends at Realtor.com
Loan applications rose 8.2 percent last week on a seasonally adjusted basis compared to the previous week, according to the Mortgage Bankers Association weekly survey. (more…)

Tags: Real Estate News