Eye On Housing
Author Archives
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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 ›
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Pending Home Sales Reach Record High in August
As record-low mortgage rates continue to fuel housing demand, pending home sales increased for a fourth straight month in August. 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 8.8% from 122.1 in July to 132.8 in August, the highest level on record. On… Read More ›
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Consumer Confidence Rebounds Strongly in September
After hitting a 6-year low last month, consumer confidence bounced back in September, as consumers were more upbeat on outlook for economy and the job market. The Consumer Confidence Index, reported by the Conference Board, rose 15.5 points from 86.3 to 101.8 in September, the highest level since March 2020 and the largest monthly gain since April 2003. The Present… Read More ›
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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 ›
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Single-Story Home Construction Continued to Increase in 2019
Information obtained from the US Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB, shows that the share of two or more stories homes started is greater than one story homes in 2019, although the share of two-story homes decreased slightly in 2019. The greatest concentrations of two-or- more story homes were in divisions along the coasts of the… Read More ›
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Pending Home Sales Up 5.9% in July
As record-low mortgage rates continue to fuel housing demand, pending home sales increased for a third straight month in July. 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 5.9% from 115.3 in June to 122.1 in July. On a year-over-year basis, sales were… Read More ›
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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 ›
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Business Application Shows Growth in Q2 2020
Housing creates jobs, and housing in turn follows job growth from business activity. Thus, tracking the growth of enterprise provides a guide to future home building. The Census Bureau recently released its Second Quarter 2020 Business Formation Statistics Report (BFS). The report provides timely and high-frequency data on business applications and employer business formations measured by applications for an Employer… Read More ›
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Pending Home Sales Edge Up in June
After the biggest monthly gain on record last month , pending home sales surged back to pre-pandemic levels, as homebuyers rushed back to the market, taking advantage of record-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 climbed 16.6% from 99.6 in… Read More ›
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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 ›