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BUSINESS
August 22, 1999
Sales of existing homes reached record levels in the second quarter of this year, the National Association of Realtors reports.Total sales increased in 39 states, including Maryland, compared with sales in the second quarter of last year. Ten states and Washington had declines from the year-earlier period. Montana reported no change.The seasonally adjusted annual rate of existing single-family, apartment and cooperative home sales was up 7.8 percent, to 5.97 million from 5.54 million this time last year, setting the highest annual pace since NAR started tracking existing home sales in 1981.
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NEWS
By Mary Gail Hare, The Baltimore Sun | June 27, 2010
A new Baltimore County property tax credit rewards homeowners for making costly efficiency upgrades designed to save cash over time. The credit, which could save homeowners $1,800 over three years, covers improvements to heat and air conditioning systems, as well as upgrades to windows, insulation and roofing. The county council unanimously approved the credit in early June, and it took effect last week. The measure is intended to encourage improvements to existing homes by offering efficiency incentives similar to those for new construction.
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BUSINESS
August 16, 1998
As sales of existing homes continue to rise, the same can be said for median home prices across the country.According to second-quarter statistics released last week by the National Association of Realtors, the median price for an existing home was $131,000, up 6 percent from the second quarter for 1997.The median is the midpoint in the price range. Half the homes sell for more, half for less.The metropolitan area with the highest median price was San Francisco, at $329,400.Regionally, the Midwest recorded the largest increase in median home prices in the second quarter; they rose 7.9 percent, to $114,000.
BUSINESS
By Los Angeles Times | December 23, 2009
Sales of previously owned homes soared 7.4 percent in the traditionally slow month of November as buyers looked to take advantage of a tax credit for first-time purchases, an industry group said Tuesday. Sales of single-family houses, townhouses, condominiums and co-ops rose to a seasonally adjusted annual rate of 6.54 million units in November, the National Association of Realtors in Washington said. That is 44.1 percent above the 4.54 million sales pace of November 2008.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,Sun Staff Writer | November 5, 1994
Rising mortgage interest rates continued to batter the housing market in metropolitan Baltimore last month, as sales of existing homes took a 10 percent dive for the second consecutive month.The number of homes in the sales pipeline also fell last month as contracts signed plunged 26 percent, indicating the downturn would likely continue for months. Sales contracts, which typically take two months to close, were down 27 percent in September."Fall is the second-busiest time of the year, and most agents and brokers look forward to it, but it's not happening now the way it normally is," said Henry A. Strohminger, an agent with Prudential Preferred Properties.
BUSINESS
April 19, 1998
The vigorous market for existing-home sales apparently isn't showing any signs of slowing, causing the experts at the National Association of Realtors to change their forecast.NAR last week revised its estimate for this year's sales, saying it expects an increase of 3.2 percent to a total of 4.35 million units, which would be a record."Over the last year we have been making upward revisions in our forecast to the point where we now expect to set another record this year," said Fred Flick, vice president of economics and research for NAR.After two straight record-setting years, Flick expected a cool down this year.
BUSINESS
By BLOOMBERG NEWS | December 30, 2004
WASHINGTON - U.S. sales of previously owned homes rose 2.7 percent to a record in November, making 2004 the best year ever for housing. Existing homes sold at a 6.94 million annual rate, up from a 6.76 million pace in October, the National Association of Realtors said yesterday. A record 6.14 million existing homes have been sold this year, surpassing the 6.1 million in 2003. Sales rose 6.5 percent in the West to an annual rate of 1.97 million, 1.8 percent in the South to 2.83 million, and 0.7 percent in the Midwest to 1.39 million.
BUSINESS
By BLOOMBERG NEWS | December 30, 2005
WASHINGTON -- Sales of existing homes fell to an eight-month low in November, leaving the number of houses on the market at the highest since 1986 and suggesting one pillar of the U.S. economy will weaken next year. Home sales dropped 1.7 percent to a 6.97 million annual rate, the National Association of Realtors said yesterday in Washington. Mortgage rates are higher than a year ago, and the report showed the median price rose 13.2 percent since November 2004 to $215,000, making homes less affordable.
BUSINESS
By Robert Nusgart and Robert Nusgart,SUN STAFF | August 12, 1999
Home sales in the Baltimore metropolitan area are going through the roof.Sales of existing homes for the region in July rose 20.9 percent over the comparable period last year as 3,509 homes changed hands -- the highest one-month total in more than three years."
BUSINESS
By Robert Nusgart and Robert Nusgart,SUN STAFF | May 10, 2000
Sales of existing homes in April suffered the biggest monthly drop in almost three years in the Baltimore metropolitan area, falling 10.15 percent, a report showed yesterday. Pending sales - an indication of future activity - were 2.78 percent higher than April last year, leading industry leaders to remain optimistic that home sales will continue to be one of the economy's growth sectors. It was the second consecutive month of higher pending sales, according to statistics released by the Metropolitan Regional Information Systems Inc. The decline in sales was the most since a 12 percent decline in May 1997.
BUSINESS
By From Baltimore Sun news services | January 27, 2009
Sales of existing homes posted an unexpected increase last month as consumers snapped up bargain-basement foreclosures in California and Florida, closing out the worst year for the U.S. real estate market in more than a decade. Analysts, however, cautioned that prices are likely to keep falling through this year, and they said the outlook for home sales is highly uncertain, despite a boost from low mortgage rates. "I don't think we're close to a bottom yet," said Michelle Meyer, a Barclays Capital economist who sees nationwide prices falling another 15 percent this year.
BUSINESS
By ILYCE GLINK | January 4, 2009
By the time the dust settles, one thing will be clear: 2008 will be a year most homesellers, homeowners and lenders will want to forget. At the end of 2006, home prices had dropped 3.5 percent. At the end of 2007, home prices dipped again. As we move into 2009, home prices in 2008 had dropped by double-digits in parts of the country, according to the National Association of Realtors. If that weren't bad enough, November sales of existing homes plummeted 8.6 percent, to an annualized figure of about 4.5 million.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,lorraine.mirabella@baltsun.com | November 7, 2008
The nation's financial meltdown dealt a setback to a housing market that was showing glimmers of recovery in Maryland, and local builders said yesterday that they are bracing for another tough year. During a real estate and construction forecast conference, area builders said they are struggling through a period of slow sales and limited financing that has forced housing companies to lay off workers, put projects on hold or rethink the type of homes they can sell. The housing slowdown began about two years ago. Experts at the annual conference in Woodlawn, sponsored by the Home Builders Association of Maryland, said the bloated inventory of new and existing homes was starting to come into balance as new housing starts dropped sharply this year.
BUSINESS
By Bloomberg News | July 4, 2007
WASHINGTON -- Factory orders fell less than predicted in May, reinforcing forecasts that manufacturing will help overcome the housing slump. Orders placed with U.S. factories fell 0.5 percent after a 0.5 percent gain in April, the Commerce Department reported. The National Association of Realtors said separately that Americans signed fewer contracts to buy previously owned homes, with its index unexpectedly dropping to a five-year low. Demand for computers, electronics and fuel helped make up for a decline in aircraft bookings in May, the Commerce Department reported.
NEWS
By LAURA BARNHARDT and LAURA BARNHARDT,SUN REPORTER | June 27, 2006
With a hearing on a proposal to develop houses on the Country Club of Maryland's golf course set for next month, a Baltimore County councilman says it is a "horse race" to get a community plan for the nearby Idlewylde neighborhood approved in time to limit the housing project. The county's planning board decided to table the Idlewylde plan until its July 20 meeting, which means the earliest that the County Council could vote on it would be Aug. 7. The public hearing on the country club development is scheduled for 9 a.m. July 7 and if necessary will continue at 9 a.m. July 14. The Idlewylde community plan calls for creating additional buffers between existing houses and new developments, including the one proposed by the club.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | March 24, 2006
Sales of existing homes in the United States unexpectedly surged in February after falling for five months in a row, the National Association of Realtors reported yesterday, reflecting a lift related to unseasonably warm weather and signaling that the housing market is healthier than some experts had suggested. Sales climbed 5.2 percent last month, to an annual pace of 6.91 million homes, after falling 8.9 percent in the previous five months. The nationwide median price -- the point at which half the homes sold for more and half for less -- climbed 10.6 percent from a year earlier, to $209,000.
BUSINESS
By Robert Nusgart and Robert Nusgart,SUN STAFF | February 14, 2001
Undeterred by fears of a softening economy or wintry weather, homebuyers in the Baltimore area continued their frenzied pace last month, delivering a record January for sales of existing homes. Sales soared 29.49 percent compared with sales in January last year, according to statistics released yesterday by the Metropolitan Regional Information Systems Inc, the multiple-list and computer database used by real estate brokers. The increase was the largest since a 24 percent gain in January 1998, when the Baltimore market was beginning its boom.
BUSINESS
By BLOOMBERG NEWS | December 30, 2005
WASHINGTON -- Sales of existing homes fell to an eight-month low in November, leaving the number of houses on the market at the highest since 1986 and suggesting one pillar of the U.S. economy will weaken next year. Home sales dropped 1.7 percent to a 6.97 million annual rate, the National Association of Realtors said yesterday in Washington. Mortgage rates are higher than a year ago, and the report showed the median price rose 13.2 percent since November 2004 to $215,000, making homes less affordable.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | August 24, 2005
The nation's long housing boom appears to be losing steam. Sales of existing homes fell more than expected in July and prices were virtually flat compared with the previous month, the National Association of Realtors reported yesterday. Perhaps most significant, the price of condominiums, which have recently attracted a growing number of speculators looking to cash in on the boom, fell for the second straight month, while the number of condos on the market rose sharply. "We could very much be close to the peak at this time," said Lynn Reaser, chief economist at Bank of America's capital markets group.
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