Eye On Housing
Author Archives
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Pending Home Sales Hit 21-month High in September
Benefitting from lower mortgage rates, pending home sales increased for the second straight month in September. 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 1.5% from 107.1 in August to 108.7 in September, highest level since December 2017. On a year-over-year basis, sales… Read More ›
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Existing Home Sales Disappoint in September
After reaching 17-month high last month, existing home sales, released by the National Association of Realtors (NAR), fell more than expected in September despite low mortgage rates. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, dropped 2.2% to a seasonally adjusted annual rate of 5.38 million in September. However, sales were still 3.9% higher than a year ago…. Read More ›
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Single-Story Home Construction Increased in 2018
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 2018, but the two-story share decreased compared to 2017. The greatest concentration of two or more story homes was in divisions along the coasts of the country…. Read More ›
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Pending Home Sales Rebound in August
After an unexpected decline in previous month, pending home sales rebounded in August, largely led by gains in the West. 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 1.6% from 105.6 in July to 107.3 in August, the second-highest level since 2018. On… Read More ›
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Consumer Confidence Falls to 3-Month Low
After modest decline in August, consumer confidence continued to fall in September, marking the biggest monthly decline this year. The Consumer Confidence Index, reported by the Conference Board, slipped 9.1 points from 134.2 in August to 125.1 in September, as households are less optimistic about short-term economic outlook and recent escalation in trade tensions. The Present Situation Index decreased 7.0… Read More ›
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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 ›