Pending sales sank to their lowest level on record due to high rates and severe weather. NAR’s Pending Home Sales Index decreased 4.6% from December to a reading of 70.6. An index of 100 equals the level of contract activity in 2001 when NAR began tracking this data. The decrease is much larger than expected…
Existing home sales declined for the month but saw an annual spike in January. Sales fell 4.9% to a seasonally adjusted annual rate of 4.08 million, adding to December’s 2.2% decline, according to the National Association of Realtors. They were up 2% from the year prior, however, the fourth consecutive YOY gain. All major regions experienced declines…
Existing home sales continued rising in December, seeing a massive annual increase. Sales increased 2.2% to a seasonally adjusted annual rate of 4.15 million, down from November’s 4.8% spike but still moving, according to the National Association of Realtors. They were up 9.6% from the year prior, the largest year-over-year gain since June 2021. All…
By PATRICK LAVERY Experts and analysts had been predicting it for weeks, so the first shoe to drop Wednesday afternoon was expected: The Federal Open Market Committee voted to cut its key interest rate by another quarter-point, its third consecutive cut after more than a year of inaction, and a resultant reduction of 100 basis…
Pending home sales rode the low-rate wave in September, continuing an upward trend. NAR’s Pending Home Sales Index increased 7.4% month-over-month to a reading of 75.8, besting a 0.6% bump in August to reach its highest level since March. An index of 100 is equal to the level of contract activity in 2001, when NAR…
Pending home sales ticked up in August, reversing a downturn. NAR’s Pending Home Sales Index increased by 0.6% month-over-month to a reading of 70.6, recovering somewhat after falling to its lowest level on record in July. An index of 100 is equal to the level of contract activity in 2001, when NAR began tracking this…
By KIMBERLEY HAAS After months of anticipation, the Federal Reserve cut interest rates by half a percentage point at its meeting this week. This move is expected to boost consumer confidence and bring potential home sellers and buyers off the sidelines and into the housing market. In a statement, officials said members of the Federal…
Pending home sales slipped last month, overriding a surprise June uptick. NAR’s Pending Home Sales Index fell by 5.5% month-over-month to a reading of 70.2 in July, its lowest level on record. An index of 100 is equal to the level of contract activity in 2001, when NAR began tracking this data. Year-over-year, sales were…
Pending home sales recovered from an unexpected downturn in June, besting economists’ estimates. NAR’s Pending Home Sales Index rose by 4.8% month-over-month to a reading of 74.3 last month, jumping after May’s slip to its lowest level on record. An index of 100 is equal to the level of contract activity in 2001. This is…
New home sales tanked last month, falling to their slowest pace since November. That’s according to data from the U.S. Census Bureau and the Department of Housing and Urban Development, which reported sales plunging by 11.3% to a seasonally adjusted annual rate of 619,000 in May, down from the month priors’ revised rate of 698,000….
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