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…
The $418 million settlement that has rocked the real estate industry since it was announced by the National Association of Realtors continues to be a hot topic, and as the dust begins to settle, industry professionals are creating a strategy for what to do once the changes go into effect. Writer Nicole Murray sat down…
Existing-home sales continued to their downward spiral in June as buyers take a “wait and see” approach to cooling rates. Existing sales plummeted by 5.4% last month to a seasonally adjusted annual rate of 3.89 million, according to the National Association of Realtors. They were down the same amount YOY. The slump came as the…
Housing was barely mentioned in last week’s presidential debate and addressed only by President Joe Biden, not Donald Trump. Biden pushed recent housing actions as proof that his administration is tackling the affordability crisis, an issue that strikes home for millions of Americans. U.S. Secretary of the Treasury Janet Yellen recently announced new efforts by…
Pending home sales unexpectedly fell in May, hitting an all-time low. NAR’s Pending Home Sales Index fell by 2.1% month-over-month to a reading of 70.8 last month, its lowest level on record. An index of 100 is equal to the level of contract activity in 2001. Year-over-year, sales were down 6.6%. The drop came as…
Existing-home sales dipped again in May as the median sales price hit a record high. Existing sales fell by 0.7% last month to a seasonally adjusted annual rate of 4.11 million, according to the National Association of Realtors. They were down 2.8% YOY. This was the worst May data since 2020 but in line with…
Realtor.com is expanding its ad campaign championing homebuyer representation to focus in on underrepresented and marginalized groups. The campaign, launched in April, seeks to empower buyers’ agents in the wake of the National Association of Realtors (NAR) settlement, which undoes NAR’s typical commission structure and puts buyers in the driver’s seat when it comes to…
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…
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