Tag Archive for ‘inventory’

Pending Home Sales Dip in November

After reaching a record high in August, pending home sales slid for the third consecutive month, as fast-rising home prices and low inventory started to impede the housing market. Higher interest rates this week will present an additional challenge in future data. The Pending Home Sales Index (PHSI), reported by the National Association of Realtors (NAR), is a forward-looking indicator… Read More ›

Existing Home Sales Fall After Five Months of Gains

After reaching almost 15-year high last month, existing home sales, as reported by the National Association of Realtors (NAR), declined for the first time in six months amid inventory shortage and surging prices. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, fell 2.5% to a seasonally adjusted annual rate of 6.69 million in November. On a year-over-year… Read More ›

Existing Home Sales Continue Upward Trend

Fueled by record-low mortgage rates and strong demand, existing home sales, as reported by the National Association of Realtors (NAR), rose for a fifth consecutive month in October and reached its highest level in almost 15 years. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, rose 4.3% to a seasonally adjusted annual rate of 6.85 million in… Read More ›

Pending Home Sales Retreat in September

After reaching a record high last month, pending home sales cooled in September, ending four straight months of gains. 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 2.2% from 132.9 in August to 130.0 in September, the second highest level on record. However,… Read More ›

Upper End of Mortgage Market in Full Swing

The Mortgage Bankers Association’s latest Weekly Application Survey shows that, for the week ending October 23, 2020, mortgage application activity increased by 1.7% from the prior week on a seasonally adjusted basis, as indicated by its Market Composite Index. Its two constituent indexes, the Purchasing Index and the Refinance Index, increased by 1.7% and 0.2%, respectively. The MBA’s tracked 30-year… Read More ›

Existing Home Sales Surge Despite Record-Low Supply

Boosted by historically low mortgage rates, existing home sales, as reported by the National Association of Realtors (NAR), rose for a fourth consecutive month in September and reached its highest level in more than 14 ½ years. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, increased 9.4% to a seasonally adjusted annual rate of 6.54 million in… Read More ›

Existing Home Sales Reach 14-year High in August

As the housing market continued its rebound from the pandemic, existing home sales, as reported by the National Association of Realtors (NAR), reached its highest level in nearly 14 years in August. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, rose 2.4% to a seasonally adjusted annual rate of 6.00 million in August, the highest level since… Read More ›

Existing Home Sales Continue Record Rebound in July

Boosted by historically low mortgage rates, existing home sales, as reported by the National Association of Realtors (NAR), posted another record increase in July and surpassed pre-pandemic levels. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, soared 24.7% to a seasonally adjusted annual rate of 5.86 million in July, the largest monthly gain on record and the… Read More ›

Amid Record Low Rates, Refinancing Flourishes

Over the last two weeks, the Mortgage Bankers Association’s tracked 30-year fixed-rate mortgage average rate fell by 14 basis points to 3.06%, a new record low in the series. At the same time, the results from its Weekly Application Survey show both weekly and year-over-year percentage increases in purchasing and refinancing activities. On a seasonally adjusted basis, purchasing activity increased… Read More ›

Existing Home Sales Post Record Rebound in June

Boosted by historically low mortgage rates, existing home sales, as reported by the National Association of Realtors (NAR), rebounded sharply in June, showing a strong sign of a market turnaround after three months of decline. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, jumped 20.7% to a seasonally adjusted annual rate of 4.72 million in June, the… Read More ›