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National Association of Realtors 2012 Market Trend Report and it is GOOD!
Now this is the kind of POSITIVE NEWS well worthy of spreading.
Thank you so much for taking the time to share this news with us and I am so glad to share this with my many subscribers and website visitors that need to hear this wonderful news.
 
The existing home sales data for January was released earlier in the day.  In brief, sales were up, inventory down to nearly 7-year lows, while the median transacted price was still lower than one year ago. In separate data news, the weekly mortgage applications for home purchases declined in the past week, this time by 3 percent, according to the Mortgage Bankers Association.  Even with the decline, the movements in this data have been mostly sideways (neither a consistent rise nor fall) over the past 18 months. One has to be mindful that home sales closings and mortgage applications can diverge, because there is no data on actual approvals of those mortgage applications.  In addition, there has been a big increase in all-cash deals in the past 3 years.  A good one-third of home sale transactions have been all-cash, thereby completely bypassing the mortgage process.  Contrary to the sideways movement in mortgage ... more

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