Rob Drakeley

DRAKELEY REO's

PO BOX 1200
Southbury, CT 06488


Cell: 203-605-0747   
Phone: 203-605-0747 

Housing Trends

July 2018

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National market update

Existing-Home Sales Slide 2.5 Percent in April

WASHINGTON (June 20, 2018) – Existing-home sales fell back for the second straight month in May, as only the Northeast region saw an uptick in activity, according to the National Association of Realtors®.





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Home-Buying Frenzy Sets a Record as California Loses Its Grip on Hottest Markets

Summer, thank you for finally getting here! (Actually, according to astronomy, we just passed the height of summer, but that seems unfair to those locations where the warm season has only just begun in earnest.) Between days of lazing on the beach, gorging at backyard barbecues, and escaping to vacations, house hunters are getting serious. After all, there isn't much time left to close on a home before school starts for the kids.





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National housing indicators

Existing home sales (May)

5.44 millions units*

Existing home median price (May)

$264,800

Housing Starts (May)

1.350 millions units*

New home sales (April)

0.662 millions units*

*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

4th Quarter 2017

64.2%

1st Quarter 2018

64.2%

The homeownership rate of 64.2 percent was not statistically different from the rate in the first quarter 2017 (63.6 percent) and virtually unchanged from the rate in the fourth quarter 2017 (64.2 percent).

New home sales

April 2018

-1.5%

May 2018

+6.7%

Sales of new single-family houses in May 2018 were at a seasonally adjusted annual rate of 689,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.7 percent (±14.1 percent)* above the revised April rate of 646,000 and is 14.1 percent (±19.9 percent)* above the May 2017 estimate of 604,000.

Source: U.S. CENSUS BUREAU

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Regional market updates

View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 178 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

Drakeley REO's service the REO industry exclusively! We guide first time home buyers through the process of purchasing a bank owned home or REO. With 21 years in the Real Estate retail industry & recent years as a Mortgage Loan Consultant, we are here to help, and service the public when it comes to purchasing or selling a bank owned asset. Read more

Our New Exclusive REO Real Estate Company. Selling Bank Owned Homes throughout Connecticut Exclusively for the Banks and Asset Managers Read more

Rob's a resident of Southbury & member of Sacred Heart Church w/an active role @ Pomperaug Elementary as Class Dad & PTO. RE Broker since 1997 & loan originator since 2012, NMLS#336022. Certified Distressed Property Expert. Member of Woodbury & Southbury Business Associations. Council of Residential Specialists. University of Miami class of 1995. Read more

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Surf’s Up: America’s Most Affordable Beach Towns

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‘I Backed Out of Buying My Dream Home’—Here’s Why

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7 Outdoor Improvement Projects You Can Start—and Finish—This Weekend

You can wrap up these simple outdoor projects before Monday, leaving more time for fun in the sun.



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Existing Home Statistics

View statistics based on national data, regional data and data gathered from 159 cities & metropolitan areas.