Sales
Existing Home Sales Post Third Monthly Loss in April
Existing home sales posted their third monthly loss in April, falling 2.7 percent compared to sales in March. The National Association of Realtors® (NAR) said seasonally adjusted sales of single-family homes, townhouses, condominiums, and cooperative apartments were at a rate of 5.85 million units compared to 6.01 million the prior month. The annual rate has […]
Pending Home Sales Rise Less Than Expected as Inventory Remains Ultra Tight; Rates Recover After Bumpy Start; Digital Lending Speeds Things Up
While the degree to which is happened was somewhat disappointing, pending home sales did snap out of a two-month slump in March . The National Association of Realtors’® (NAR’s) Pending Home Sales Index (PHSI) rose 1.9 percent to 111.3 in March and is now up 23.3 percent compared to March 2020. However, NAR points out […]
Disconnect Between Home Sales, Prices, and Rates
Posted To: Mortgage Rate Watch This week’s New Home Sales report (for the month of March) stole the show, coming in over 1 million for the first time since 2006. But although sales are up 66% year-over-year, prices have fallen in recent months and are now basically unchanged from last year. What’s up with that? […]
Existing Home Price Appreciation Hits All-Time High and New Home Sales Bounce Back
Economic and Housing Weekly Note – April 23, 2021…(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Around The Web
Housing Market Update: Home Prices Increased a Record 17%, Pending Sales Up 19% From a Year Earlier
The average sale-to-list price ratio passed 100% for the first time as home prices surge….(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Around The Web
South Carolina Real Estate in February: Sales Up 13% YoY, Inventory Down 46% YoY
Note: I’m posting data for many local markets around the U.S. The story is the same everywhere … inventory is at record lows. From the South Carolina Realtors for the entire state: Closed sales in February 2021 were 7,127, up 13.4% from 6,284 in February 2020. Active Listings in February 2021 were 14,253, down 46.3% […]
Pending Home Sales Retreat 2.8% in January, but Climb From Last Year
Pending Home Sales Retreat 2.8% in January Pending home sales took a step backward in January as inventory constraints continue to hold back prospective buyers. Media Contact: Quintin Simmons 202-383-1178
Existing Sales Rise, But Inventory is a Drag; Rates Surging, How Bad Could it Get?
There’s no precedent for the winning streak enjoyed by mortgage rates in the 2nd half of 2020. We’ve never seen so many new record lows in the same year, and we never spent as much time at those lows (not even close). All of the above makes it easy to get lulled into a false […]
Pending Home Sales Inch Back 0.3% in December
Pending Home Sales Inch Back 0.3% in December Despite dropping slightly in the last month of 2020, the latest pending home sales registered as the highest ever recorded in the month of December. Media Contact: Quintin Simmons 202-383-1178
Homebuilder Comments in Mid-May: “Reducing Sales, Limiting Sales”
Some twitter comments from Rick Palacios Jr. , Director of Research at John Burns Real Estate Consulting Here’s May mid-month home builder channel check I hinted at earlier. Builders are pushing prices w/little pushback, though some starting. Some builders are using price escalators & highest/best offer. Many limiting pre-sales, shifting to spec, & pricing home […]