Eye On Housing
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 ›
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 ›
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 ›
Of the 848,000 single-family homes started in the U.S. in 2017, roughly 79,000 were nonmetropolitan—that is, they were built outside one of the officially-defined metropolitan areas—as reported in a recent NAHB study, At 79,000, nonmetropolitan single-family starts were up 40 percent from the trough in 2011, compared to a 97 percent for single-family starts overall. The NAHB study is based on territory… Read More ›