Eye On Housing
The Pending Home Sales Index decreased in July for the fourth time in five months, and now has decreased year-over-year in three of the past four months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased 0.8% to 109.1 in July from a downwardly revised 110.0 in… Read More ›
Despite gains in the West and South, existing home sales fell for a second consecutive month, declining 1.3 % in July, but remained 2.1% above the pace a year ago. Some 51% of homes sold last month were on the market less than a month as buyers overcame low inventory and higher prices. July inventory declined 1.0%, and is now… Read More ›
The Pending Home Sales Index increased for the first time since February and investors retreated, giving first-time buyers a better chance to enter the market. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 110.2 in June, up 1.5% from an upwardly revised 108.6 in May,… Read More ›
Existing home sales decreased 1.8 % in June, but remain 0.7% above the pace a year ago. Some 54% of homes sold last month were on the market less than a month as buyers overcame low inventory and higher prices. June inventory declined 0.5%, and remains 7.1% lower than a year ago, having fallen year-over-year for the 25th consecutive month…. Read More ›
Using the Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics (BLS), NAHB Economics research shows that a home purchase triggers additional spending on appliances, furnishings, and remodeling. NAHB’s most recent estimates are based on the 2012-2014 data and show that during the first two years after closing on the house, a typical buyer of a newly-built single-family… Read More ›
The Pending Home Sales Index decreased for the third month in a row, and annually for the second year in a row. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased to 108.5 in May, down 0.8% from a downwardly revised 109.4 in April, and down 1.7%… Read More ›
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 ›
NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $522.2 billion in April, 0.7% lower than upwardly revised March estimates. The private residential construction spending slowed down after a strong start this year. However, it was still 16.7% higher than a year ago. The monthly declines… Read More ›
May is National Home Remodeling Month, and Eye on Housing recognized the occasion with a series of posts related to the topic. As the month draws to a close, below is a summary list of those posts for anyone who may have missed them: Remodeling in 2016: Kitchens Reclaim Top Spot from Baths May 5, 2017 Desire for New Amenities:… Read More ›
The Pending Home Sales Index decreased 1.3% in April for a second consecutive monthly decline, and fell 3.3% below its level a year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased to 109.8 in April, down from a revised 111.3 in March. The PHSI decreased… Read More ›