Eye On Housing
Author Archives
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Existing Home Sales Continue to Strengthen in August
Boosted by low mortgage rates, existing home sales, released by the National Association of Realtors (NAR), rose to 17-month high in August. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, climbed 1.3% to a seasonally adjusted annual rate of 5.49 million in August, the largest gain since March 2018. On a year-over-year basis, sales were 2.6% up than… Read More ›
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Pending Home Sales Fall Despite Lower Mortgage Rates
After two straight monthly gains, pending home sales unexpectedly dropped 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 fell 2.5% from 108.3 in June to 105.6 in July, largest monthly drop since March 2018. On a year-over-year basis, sales were 0.3% lower… Read More ›
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Existing Home Sales See First Year-Over-Year Gain in a Year, Boosted by Lower Mortgage Rates
After a minor decline in June, existing home sales, released by the National Association of Realtors (NAR), rebounded in July. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, climbed 2.5% to a seasonally adjusted annual rate of 5.42 million in July. On a year-over-year basis, sales were 0.6% up than a year ago, the first year-over-year gain in… Read More ›
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Pending Home Sales Post First Year-over-Year Gain in More than a Year
With the help of lower mortgage rates, pending home sales continued to grow in June. 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 2.8% from 105.4 in May to 108.3 in June. On a year-over-year basis, sales were 1.6% higher than a year… Read More ›
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Existing Home Sales Weaken in June
After gains in May, existing home sales, released by the National Association of Realtors (NAR), fell more than expected in June. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, dropped 1.7% to a seasonally adjusted annual rate of 5.27 million in June. On a year-over-year basis, sales were 2.2% lower than a year ago, marking the sixteenth straight… Read More ›
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Pending Home Sales Rebound in May
After a minor dip in April, pending home sales rebounded in May, mainly driven by the lower 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 rose 1.1% from 104.3 in April to 105.4 in May, but was still 0.7% below the level… Read More ›
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Consumer Confidence Drops to Near Two-Year Low
After three consecutive months of gains, consumer confidence fell to its lowest level since September 2017. The Consumer Confidence Index, reported by the Conference Board, fell by 7.5% from 131.3 in May to 121.5 in June, as households are less optimistic about short-term economy and labor market amid trade tensions with China and Mexico. The Present Situation Index decreased 8.1… Read More ›
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Existing Home Sales Bounced Back in May
Boosted by lower mortgage rates, existing home sales, released by the National Association of Realtors (NAR), rebounded in May. This is the first gain in two months. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, climbed 2.5% to a seasonally adjusted annual rate of 5.34 million in May. On a year-over-year basis, sales were 1.1% lower than a… Read More ›
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Pending Home Sales Slide in April
After a large gain in March, pending home sales slightly dropped in April. 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 1.5% from 105.9 in March to 104.3 in April, and was still 2.0% below the level of one year ago, marking the… Read More ›
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Existing Home Sales Slightly Down in April
Following a sharp decline in March, existing home sales, released by the National Association of Realtors (NAR), continued to fell in April despite lower interest rates and a strong labor market. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, declined 0.4% to a seasonally adjusted annual rate of 5.19 million in April. On a year-over-year basis, sales were… Read More ›