Stacie Hartman

The Mortgage Blog of Stacie Hartman

Stable Prices, Tax Credit Boost March Sales

With the national median existing-home price nearly unchanged from last year and time running out on the home-buyer tax credit, existing-home sales rose 6.8 percent in March, according to a report from The National Association of Realtors. Sales, up 16.1 percent from March 2009, have been above year-ago levels for nine straight months. Lawrence Yun, NAR’s chief economist, said price stabilization should lead to a revival in buying confidence, which will help the market rebound after the tax credit impact disappears. More here and here.

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Existing Home Sales, Median Price Drop In February

According to The National Association of Realtors, sales of previously owned homes fell .06 percent in February. Despite the third straight month of decline, sales were 7.0 percent higher than February 2009. Lawrence Yun, NAR’s chief economist, said year-over-year sales have been up for eight months but the key test for the housing recovery is what happens as the tax-credit deadline approaches. The national median existing-home price for all housing types was $165,100 in February, down 1.8 percent year-over-year. More here and here. A graph of monthly existing-home sales since 2005 below.

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Existing Home Sales Down in January

According to the National Association of Realtors, sales of existing homes dropped 7.2 percent in January. Lawrence Yun, NAR’s chief economist, said the delay between shopping and closing affected current sales, noting that most of the completed deals in January were based on contracts from November and December. Still, Yun said, the decline is not encouraging. Despite the discouraging numbers, compared to January 2009, existing-home sales were up 11.5 percent. More here.

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About Me:

Stacie Hartman is a wholesale mortgage Account Executive working with loan officers in Oregon and SW Washington. She has 18 years in the mortgage industry, an extensive knowledge of financing options, and a commitment to open communication and client service that make her stand out in her field. Her goals begin with uncompromising service and end with excellent results and repeat business.

Contact:

Stacie Hartman
360 Mortgage Group
Account Executive
Oregon and SW Washington
Phone: 503.757.9565
Email: shartman@360mortgagegroup.com
website: www.360mortgagegroup.com

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