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HomeRun Homes is a centralized marketplace which helps people Find or Sell a Rent to Own Home, both Nationwide and Globally to the thriving Rent to Own Market. http://www.lease2buy.com

December 27, 2010

Bring a Shovel...It's Getting Deep Out Here !

Good Morning,

   Welcome back, my friends ! Hope you had a joyous Christmas, if you celebrated the Holiday this past weekend. By the way, does anyone have a shovel? We are looking at about 2 feet of snow here in Metro NY...Ho Ho Ho !

   Since this tends to be one of the quietest weeks of the year, I hope you have time to reflect on the past year. Let's reflect today on some housing numbers that came out last week, and I think a visual breakdown will help you see where we've been and possibly where we are headed.

   Last week, the numbers were released for NAR Existing Home Sales, New Residential Sales, and FHFA Monthly House Price Index. Here is how things shaped up:

                                            Change From 10/10           Change From 11/09
NAR Existing Home Sales               +5.6%                                    -27.9%
New Residential Sales                     +5.5%                                    -21.2%

   The National Association of Realtors' Existing-Home Sales index (completed transactions including single-family, town homes, condominiums and co-ops) was up in November after bottoming out in July, and New Residential Sales (sales of new single-family houses) reflected similar numbers. Finally, the FHFA Monthly House Price Index (Federal Housing Finance Agency’s monthly House Price Index) showed that U.S. house prices rose almost 3/4 of a percent from September to October.

   We are certainly making strides, as 2010 draws to a close, but we are still well below where we were in 2009. It's going to take considerably more time to get things back up to a speed that is more comforting to the market, however, I think we're off to a good start.

Have a Great Week, and Happy Rent-to-Owning !
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

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