"The real estate market continues to trundle along, now that the homebuyers tax credit has expired and with it, the rush to sign a contract and qualify for $8,000 of free money. On June 22, the National Association of Realtors announced that existing home sales completed in May were down 2.2% compared with April, confirming expectations that the housing recovery will slowed down once the government’s incentives expire. (There was some good news, though: compared with the same period in 2009, sales were up 19.2%.)
"Looking back at the housing boom is a painful exercise for many homeowners – particularly those who bought at the peak of the real estate market. Who needs another reminder of what was possibly one of the worst financial decisions they ever made?
"Housing sales have been on the rise thus far in 2009 as confidence in the real estate market rebounds. Though September saw a decline in the median sales price to $174,900 for a single family home, the number of homes sold each month has been steadily increasing. With consumers once again shopping for homes, we look at what the “average” home looks like around the country."
"We don’t recommend you try to time the housing market but, if you’re in the market for a new home, it helps to pay attention to its cyclical nature. When times are hard, prices drop and the market becomes more attractive. When more people get in, prices naturally rise. While there are still deals to be had, this map shows that some of the regions that were hit hardest by the housing crisis in 2007 and 2008 have begun to bounce back in early 2009 with increased sales numbers.
"It's been a tough few years for those looking to buy or sell real estate. We thought it would be interesting to look at the numbers to see how the US was doing. Below have a look at the top 10 real estate markets for 2010."
Shown below is a great informational graphic from mint.com showing the early signs of the real estate recovery:
“The government will tell you that we are coming out of recession and economic recovery is right around the corner. Since the mortgage meltdown could be considered the root cause of the economic downturn, it’s helpful to look at the current housing market to get a sense of whether the recovery is hitting close to home. As prices have continued to drop in cities across the nation, the number of home sales has been increasing in many areas. Especially profound was the dramatic percentage increase year-over-year between Q3 and Q4 in total properties sold. Our latest map may not be able to tell you when to buy and when to sell but it will give you some strong data with which to make an informed decision.”
For a mere £110,000, you could be the owner of the world's smallest house. Dubbed "The Little House" of Toronto, Canada this tiny home measures only 7ft wide and 47ft long. This 312 square-foot home is one of the smallest functioning homes in the world with a surprising list of amenities:
