HomeRun Homes Rent to Own Homes Blog

My photo

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
Showing posts with label declined mortgage applications. Show all posts
Showing posts with label declined mortgage applications. Show all posts

November 21, 2011

Higher Home Sales and Lower Housing Inventory

Hi Folks,
   Hope everyone is doing well.

   The National Association of Realtors, or NAR, just released their figures for Existing Home Sales in October, and some the highlights were:

   * Existing-home sales rose 13.5% from October 2010 to October 2011.
   * Regionally, the Midwest had the highest increase (19.6%)
   * Over the September - October period, contract failures soared 18% to 33%
   * Unsold Housing Inventory is on the decline.

   With the solid 12-month figures, the shorter term figures were not as impressive, and as Lawrence Yun, NAR chief economist, said; "Many people who are attempting to buy homes are thwarted in the process”.

   One of the major factors was the spike in contract failures, which can happen for any number of reasons, including declined mortgage applications, appraised value below the negotiated price, etc.

   One glimmer of hope, as I see it, is the drop in foreclosure inventory. If we see that inventory devoured, things will look even more promising, since there is a heck of a lot of it out there !

   What is your interpretation of this data?

Would You Like Our Blog Posts Sent Directly to your E-mail? Here's How:
1. Locate the "Follow this Blog by Email" box on the Right Side of your Screen.
2. Type your E-mail address in the box, and click "Submit"
3. Check Your E-mail and Confirm Your Subscription...it's That Simple !

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

TAGS: #ExistingHomeSales #UnsoldHousingInventory #contractfailures #declinedmortgageapplications #appraisedvalue #foreclosureinventory #NAR