The Campbell/Inside Mortgage Finance HousingPulse Tracking Survey for August shows a decline in short sales transactions involving first-time buyers to a record low of 39.7 percent from a high of 54.1 percent in November 2009. First-time buyers had flocked to short sale properties because they cost 27 percent less on average than their non-distressed counterparts, but they have backed away from the transactions now that the average time-on-market is holding steady at 16.6 weeks. Most of the delay can be attributed to a lengthier period of waiting for the short sale to be approved. Short sales made up 17.1 percent of all home purchases in August, followed by move-in ready REO at 15.6 percent and damaged REO at 13.2 percent. | Read More
Recent Posts
- The New Raw Uses 3D Printing To Create Sculptural, Multifunctional Furniture
- Knowing the Ropes Explores the Textile Through a New Lens
- The Woodio Block Takes the Throne as World’s First 100% Wood Composite Toilet
- The New PK4™ Lounge Chair + Upholstered Ant™ Chair Come Home to Fritz Hansen
- How To Save Energy in Your Home With Smart Plugs
Archives
Categories
- Decor (2,042)
- Energy Saving Tips (15)
- Green Design (22)
- Greening Tips (1,122)
- Home Improvement (1,674)
- Home Remodeling (16)
- Home Security (10)
- Homeowners News (1,265)
- Homeowners News;Top Story (3)
- Housing and Mortgage Trends (713)
- Insurance (1)
- Maintenance and Repair (10)
- Safety (4)
- Smart Home Tech (1,162)
- Top Story (106)