C21AGVoices

Home resales rose 4 percent last month, according to the March Existing Home Sales report. A total of 5.1 million homes were sold on an annualized, seasonally-adjusted basis.

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According to the Census Bureau, seasonally-adjusted, single-family Housing Starts rebounded in March, increasing 8 percent over February’s 2-year low.

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According to the National Association of Homebuilders, the Housing Market Index slipped one point to 16 in April. It’s the 5th time in 6 months that the index read 16 — a figure exactly in line with the 1-year average, but still considered “poor”.

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According to foreclosure-tracking firm RealtyTrac, the number of national foreclosure filings plunged 35 percent in March 2011 as compared to March 2010, a statistic that reflects a more healthy housing market and more robust outlook for 2011.

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According to the January Case-Schiller Index, values are down 3.1% from last year, retreating to the same levels from Summer 2003. As a buyer or seller in today’s market, though, don’t read too much into it. The Case-Shiller Index is far too flawed to be the final word in housing.

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February’s Pending Home Sales Index rebound breaks a 2-month losing streak, and reverses recent downward momentum in housing.

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Sales of newly-built homes plunged 17 percent to an seasonally-adjusted, annualized 250,000 units in February, and the supply of new homes rose to 8.9 months in February — a 1.5 month jump from January. But there’s more to the story.

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Existing Home Sales fell 10 percent last month, according to a report from the National Association of REALTORS®.

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Home prices are based on supply and demand and overall home supply looks headed for a fall. Sellers are poised to regain negotiation leverage.

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According to the monthly Housing Market Index as published by the National Association of Homebuilders, after 4 straight months of reading 16, March homebuilder confidence ticked 1 point higher to 17. It’s the highest confidence reading in 10 months.

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