Eye On Housing
While the COVID-19 pandemic has triggered many social and economic disruptions, it has also changed working arrangements and has accelerated the shift to work from home (WFH). During the COVID-19 outbreak in the early of 2020, many businesses across the United States closed and millions of workers experienced the work from home trend out of necessity. This sudden and massive… Read More ›
Tag Archive for ‘Housing Market’
Pending Home Sales Down Again in December
Following a decline in November, pending home sales decreased in December to its lowest level since early 2014. The decline occurred despite hopes for stabilization with lower 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 decreased 2.2% from 101.2 in November to 99.0… Read More ›
Existing Home Sales Decline Sharply in December
Total existing-home sales, released by the National Association of Realtors, decreased 6.4% to a seasonally adjusted rate of 4.99 million in December, after two consecutive months of increase. Compared with a year ago, sales decreased 10.3% in December, the lowest level since November 2015. Total existing home sales include single-family homes, townhomes, condominiums and co-ops. The first-time buyer share slightly… Read More ›
Pending Home Sales Fall in November
Pending home sales declined slightly in November on an annualized basis for the eleventh straight month. The Pending Home Sales Index decreased by 0.7% from 102.1 in October to 101.4 in November, and was 7.7% below the level one year ago. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the National Association… Read More ›
Existing Home Sales Increase in November
Total existing-home sales, released by the National Association of Realtors, increased 1.9% from October to a seasonally adjusted rate of 5.32 million in November. Despite the monthly rise, sales decreased 7.0% from a year ago in November, the biggest drop since May 2011, indicating the housing market continued to sputter due to the rising mortgage rate and tight inventory. Total… Read More ›