Existing-Home Sales Jump to Highest Annual Rate in 18 Months

March Home Sales Surge

The spring selling season gets off to a sunny start in March with the sale pace reaching an 18-month high. Also, NAR President Chris Polychron urges the Senate Banking Committee to take action on overly tight mortgage credit. Other stories: Hard-hit buyers are returning to the market seven years after the downturn and the Rural Housing Service joins NAR to talk about the advantages of Sec. 502 direct loans for households that otherwise wouldn’t be able to get mortgage financing.

Featured segments:

  • March existing-home sales hit 18-month high
  • NAR testifies before Congress on credit access
  • Hard-hit buyers return after the downturn
  • Sec. 502 direct loans can help low-income rural buyers

Get more on all the topics covered in this video:

The Facebook Effect (On Real Estate Prices)

The Facebook Effect (On Real Estate Prices)

The Facebook Effect (On Real Estate Prices)

Four years ago, Facebook announced that they were decamping to Menlo Park from their longstanding home of Palo Alto. Just last month, the company finally cut the ribbons on a beautiful 430,000-square foot building designed by Frank Gehry that is basically one giant, open-air room with an enormous park on top.The effect on the prices of surrounding real estate has been profound.If you look at the chart below, published last week in the Almanac and Palo Alto Weekly, the price increases are mainly concentrated in Menlo Park and the neighboring city of East Palo Alto.