Eye On Housing
Author Archives
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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 ›
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Pending Home Sales Climbed in March
Pending home sales bounced back in March, after a minor slip in February. 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 3.8% from 101.9 in February to 105.8 in March, but was still 1.2% below the level one year ago, marking the fifteen… Read More ›
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Existing Home Sales Declined in March
After a strong gain in February, existing home sales, released by the National Association of Realtors, fell back in March despite lower interest rates and a strong labor market. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, declined 4.9% to a seasonally adjusted annual rate of 5.21 million in March. On a year-over-year basis, sales were 5.4%… Read More ›
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Pending Home Sales Down Slightly in February
Pending home sales fell slightly in February, after a solid gain in January. 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 declined 1.0% from 102.9 in January to 101.9 in February, and was 4.9% below the level one year ago, marking the fourteenth straight… Read More ›
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Consumer Confidence Slips in March
After rebounding from the effects of the partial government shutdown in February, consumer confidence unexpectedly dropped in March. This is the fourth time decline in the past five months. The Consumer Confidence Index, reported by the Conference Board, fell by 5.6% from 131.4 to 124.1 in March, driven mainly by the sharp decline in the Present Situation Index, which fell… Read More ›
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Existing Home Sales Jumped in February
After three consecutive months of decline, existing home sales, released by the National Association of Realtors, rebounded strongly in February. This is the largest monthly gain since December 2015. Total Existing home sales, including single-family homes, townhomes, condominiums and co-ops, rose 11.8% to a seasonally adjusted annual rate of 5.51 million in February, the highest level in the past eleven… Read More ›