Eye On Housing
August existing sales declined for the fourth time in five months, and only some of that decline was attributed to Hurricane Harvey. Despite gains in the Northeast and Midwest, existing home sales fell 1.7% in August, and remained only 0.2% above the level a year ago. Some 51% of homes sold last month were on the market less than a… Read More ›
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 ›