Tag Archive for ‘Existing Home Sales’

May Buyers Rush Past Market Challenges

Existing home sales increased 1.1% in May, and 55% of homes sold last month were on the market less than a month as buyers overcame low inventory and higher prices. Although May inventory increased 2.1%, it remains 8.4% lower than a year ago and fell year-over-year for the 24th consecutive month. The National Association of Realtors (NAR) reported that at… Read More ›

April Buyers Chafe at Supply Constraints

Existing home sales declined 2.3% in April as inventory fell year-over-year for the 23rd consecutive month, while the velocity of sales increased to the highest level since the National Association of Realtors (NAR) began tracking the monthly sales timeframe.  At the current sales rate, the April unsold inventory represents a 4.2-month supply, up from the March 3.8-month supply, but down… Read More ›

March Sales Roar Like a Lion

Existing home sales, as reported by the National Association of Realtors (NAR), surged 4.4% in March to the highest pace in ten years. At the current sales rate, the March unsold inventory represents a 3.8-month supply, unchanged from February. March existing sales were up 5.9% from the same month a year ago, and reached a seasonally adjusted rate of 5.71… Read More ›

Existing Sales Hit Inventory Wall

Existing home sales, as reported by the National Association of Realtors (NAR), reversed a January gain and decreased 3.7% in February. At the current sales rate, the February unsold inventory represents a 3.8-month supply, compared to a 3.5-month supply in January. February existing sales were up 5.4% from the same month a year ago, and reached a seasonally adjusted rate… Read More ›

Existing Sales Fast Out of 2017 Gate

Existing home sales, as reported by the National Association of Realtors (NAR), increased 3.3% in January, reaching the fastest pace since February 2007. At the current sales rate, the January unsold inventory represents a 3.6-month supply, unchanged from December. January existing sales were up 3.8% from the same month a year ago, and advanced to a seasonally adjusted rate of… Read More ›

Pending Home Sales in December

The National Association of Realtors released its Pending Home Sales Index (PHSI) for December. The index tracks signed but not yet closed contracts for existing home sales. In December the index rose 1.6% to 109.0, from 107.3 in November. The PHSI is a leading indicator for existing home sales (closed sales contracts) in the following month or two, the typical… Read More ›

2016 Existing Sales Best Since 2006

Existing home sales, as reported by the National Association of Realtors (NAR), decreased 2.8% in December, but ended 2016 as the best year for existing sales since 2006. December sales were up a slight 0.7% from the same month a year ago. Total 2016 existing home sales reached 5.45 million, exceeding the 5.25 million in 2015. Total existing home sales… Read More ›

Conventional Mortgages Finance Most New Home Sales Since 2008

NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals that the share of mortgages financed through conventional products in the third quarter of 2016 rose to 74.1%–the highest level seen since 2008.  In contrast, cash sales accounted for the smallest portion they have since the second quarter of 2010.  The portions financed with FHA… Read More ›

Existing Sales Year-End Sprint

Existing home sales, as reported by the National Association of Realtors (NAR), increased 0.7% in November for a third consecutive monthly increase, and reached the highest pace since February 2007. November sales were up 15.4% from the same month a year ago. Total existing home sales in November increased to a seasonally adjusted rate of 5.61 million units combined for… Read More ›

Existing Sales Revival

Existing home sales, as reported by the National Association of Realtors (NAR), increased 2.0% in October and reached the highest pace since February 2007. In October sales increased for the second straight month, and were up 5.9% from the same month a year ago. Total existing home sales in October increased to a seasonally adjusted rate of 5.60 million units… Read More ›