Robert Johnson

Pending Home Sales Saw No Change In April

Posted on by TMN Editor
April brought no change in pending home sales, according to the National Association of Realtors. NAR’s Pending Home Sales Index remained at 78.9 in April, the same reading as in March. An index of 100 is equal to the level of contract activity in 2001. Year-over-year, pending sales dropped by 20.3%. “Not all buying interests are being completed due to limited inventory,” said NAR Chief Economist Lawrence Yun. “Affordability challenges certainly remain and continue to hold back contract signings, but a sizeable increase in housing inventory will be critical to get more Americans moving.” Analysts differ on when inventory will be correct. ATTOM Data’s Rick Sharga told Bankrate not to expect a big inventory boost anytime soon. But Robert Johnson,…

Leaders: There Are Still Potential Buyers Despite The Odds

Posted on by TMN Editor
By CHUCK GREEN Despite a plethora of obstacles, there are prospective buyers chomping at the bit to purchase a home, according to experts. On Wednesday, Zillow Home Loans Senior Economist Matthew Speakman released a statement on mortgage rates dropping after a report on inflation showed that price pressures may finally be easing. “The arrival of weaker-than-expected October Consumer Price Index data was just the sign investors had been waiting for, and markets viewed it as a signal that the Federal Reserve may finally take its foot off the brakes as it determines the path forward for monetary policy,” Speakman said. “Bond yields tumbled as a result and mortgage rates – which had spent the last few weeks oscillating at or…