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….
Photo courtesy of NAREE. By KIMBERLEY HAAS Economists tracking the housing market say it’s still a game of wait and see as mortgage rates and other affordability factors weigh heavily on potential buyers and sellers. Lawrence Yun, chief economist at the National Association of Realtors, said he thought the housing market would recover this year,…
Pending home sales dropped to a four-year low in April, reversing an uptick in March. NAR’s Pending Home Sales Index fell by 7.7% month-over-month to a reading of 72.3 last month, its lowest point since April 2020 and far lower than analyst expectations. An index of 100 is equal to the level of contract activity…
Pending home sales improved in March but low inventory remains a challenge to affordability. NAR’s Pending Home Sales Index rose by 3.4% month-over-month to a reading of 78.2 last month. An index of 100 is equal to the level of contract activity in 2001. Year-over-year, they were up a modest 0.1%, with the Midwest and…
Pending home sales increased in February as inventory loosened up and buyers became accustomed to the high-rate environment. NAR’s Pending Home Sales Index rose by 1.6% month-over-month to a reading of 75.6 last month. An index of 100 is equal to the level of contract activity in 2001. Year-over-year, they were down 7%. “While modest…
Mortgage applications are down for a second week even as rates fell slightly. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — decreased by 0.7%, following the week prior’s 1.6% slip. Adjusted purchase applications slipped by 0.2%, while the unadjusted index was…
New home sales declined in February as existing sales surged, showing buyers still prefer affordable, older stock over new when it becomes available. That’s according to data from the U.S. Census Bureau and the Department of Housing and Urban Development, which reported sales down by 0.3% to a seasonally adjusted annual rate of 662,000, slipping…
Existing-home sales rebounded from a December plummet in January, increasing month-over-month, but not annually. Sales increased by 3.1% to a seasonally adjusted annual rate of 4.00 million, according to the latest data from the National Association of Realtors. They were down 1.7% from the same time last year, however. The Midwest, West, and South all…
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