Eye On Housing
Author Archives
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Pending Home Sales Dip in November
After reaching a record high in August, pending home sales slid for the third consecutive month, as fast-rising home prices and low inventory started to impede the housing market. Higher interest rates this week will present an additional challenge in future data. The Pending Home Sales Index (PHSI), reported by the National Association of Realtors (NAR), is a forward-looking indicator… Read More ›
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Consumer Confidence Falls to 4-month Low in December
After a strong rebound in September, consumer confidence fell for the second consecutive month in December, as job growth continued to slow and more states re-imposed restrictions on business due to resurgence of COVID-19. The Consumer Confidence Index, reported by the Conference Board, dropped 4.3 points from 92.9 to 88.6 in December, the lowest level since August 2020. The Present… Read More ›
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Existing Home Sales Fall After Five Months of Gains
After reaching almost 15-year high last month, existing home sales, as reported by the National Association of Realtors (NAR), declined for the first time in six months amid inventory shortage and surging prices. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, fell 2.5% to a seasonally adjusted annual rate of 6.69 million in November. On a year-over-year… Read More ›
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Two-Story Foyer Continues Downward Trend in 2019
Information obtained from the US Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB, shows that the share of new homes with a two-story foyer continued to decline nationally and regionally except the Northeast. According to the Census, a two-story foyer is defined as the entranceway inside the front door of the house and has a ceiling that is… Read More ›
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Pending Home Sales Fall in October
After reaching a record high in August, pending home sales slid for a second month, as rising home prices and low inventory started to impede the housing market. 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 1.1% from 130.3 in September to 128.9… Read More ›
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Existing Home Sales Continue Upward Trend
Fueled by record-low mortgage rates and strong demand, existing home sales, as reported by the National Association of Realtors (NAR), rose for a fifth consecutive month in October and reached its highest level in almost 15 years. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, rose 4.3% to a seasonally adjusted annual rate of 6.85 million in… Read More ›
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Air Conditioning and Heating Systems in New Homes
The Census Bureau’s Survey of Construction (SOC) provides valuable information on the characteristics of new homes started construction, such as air conditioning and heating system installations. In 2019, 95 percent of new single-family homes started had a central AC system, higher than 93.7 percent in 2018. The trend, going back to 2000, shows a steady rise in the share of new homes… Read More ›
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Pending Home Sales Retreat in September
After reaching a record high last month, pending home sales cooled in September, ending four straight months of gains. 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 2.2% from 132.9 in August to 130.0 in September, the second highest level on record. However,… Read More ›
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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 ›