Eye On Housing
Author Archives
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Pending Home Sales Reach 3-Year High Before Virus Outbreak
Following an 5.3% increase in January, pending home sales continued to trend higher in February, supported by low mortgage rates. The Pending Home Sales Index (PHSI), reported by the National Association of Realtors (NAR), is a forward-looking indicator based on signed contracts. The PHSI grew 2.4% from 108.9 in January to 111.5 in February, the highest reading in three years…. Read More ›
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Existing Home Sales Hits 13-Year High in February
Supported by historically low interest rates and rising demand, existing home sales, as reported by the National Association of Realtors (NAR), surged to 13-year high in February after a slight decline in January. Unfortunately, this will mark the high water mark for some time due to virus concerns. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, rose 6.5%… Read More ›
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Pending Home Sales Rebound in January
Following a 4.3% slump in December, pending home sales saw a strong monthly gain in January, supported by solid job growth and low mortgage rates. The Pending Home Sales Index (PHSI), reported by the National Association of Realtors (NAR), is a forward-looking indicator based on signed contracts. The PHSI grew 5.2% from 103.4 in December to 108.8 in January, the… Read More ›
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Existing Home Sales Slip But Remain Solid
After hitting a near two-year high in December, existing home sales, as reported by the National Association of Realtors (NAR), dropped in January amid tight inventory and rising prices. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, fell 1.3% to a seasonally adjusted annual rate of 5.46 million in January. However, on a year-over-year basis, sales were 9.6%… Read More ›
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Pending Home Sales Tumble in December
Pending home sales unexpectedly dropped in December as housing shortage has offset the benefit of lower mortgage rates. The Pending Home Sales Index (PHSI), reported by the National Association of Realtors (NAR), is a forward-looking indicator based on signed contracts. The PHSI fell 4.9% from 108.5 in November to 103.2 in December, the lowest reading since March 2019. However, sales… Read More ›
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Existing Home Sales End Year with Solid Gain
After a slight decline last month, existing home sales, released by the National Association of Realtors (NAR), surged to near two-year high in December. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, rose 3.6% to a seasonally adjusted annual rate of 5.54 million in December, the highest level since February 2018. On a year-over-year basis, sales were 10.8%… Read More ›
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Two-Story Foyer Less Common in 2018
Information obtained from the US Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB, shows that the share of new homes with a two-story foyer declined nationally and regionally except the West. According to the Census, a two-story foyer is defined as the entranceway inside the front door of the house and has a ceiling that is at the… Read More ›
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Consumer Confidence Decreases Marginally in December
Consumer confidence fell in December, following a slight improvement last month. This is the fourth decline in five months. The Consumer Confidence Index, reported by the Conference Board, slipped 0.3 points from 126.8 to 126.5 in December, as households are less optimistic about future employment and income. The Present Situation Index rose 3.4 points from 166.6 to 170.0, while the… Read More ›
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Pending Home Sales Rebound in November
Pending home sales in November bounced back from last month’s decline, led by gains in the West. The Pending Home Sales Index (PHSI), reported by the National Association of Realtors (NAR), is a forward-looking indicator based on signed contracts. The PHSI rose 1.2% from 107.2 in October to 108.5 in November. Sales were 7.4% higher than a year ago, the… Read More ›
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Existing Home Sales Decline in November
After downward revisions made to October data, existing home sales, released by the National Association of Realtors (NAR), declined more than expected in November. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, fell 1.7% to a seasonally adjusted annual rate of 5.35 million in November. On a year-over-year basis, sales were 2.7% higher than a year ago, fifth… Read More ›