Tag Archive for ‘NAR’

Existing Home Sales Surge in September while First-time Buyers are Priced Out

As inventory improved in recent months, existing home sales surged to 8-month high in September, according to the National Association of Realtors (NAR). Though housing demand remains strong as buyers want to take advantage of low mortgage rates before rates rise further, higher home prices are pricing out first-time and young buyers. Total existing home sales, including single-family homes, townhomes,… Read More ›

Existing Home Sales Fall in August

As tight inventory continued to push up prices, existing home sales fell in August but remain above pre-pandemic levels, according to the National Association of Realtors (NAR). Though the median existing home prices has increased 34% since January 2020, housing demand remains strong thanks to low mortgage rates and buyers are waiting for more inventory. Total existing home sales, including… Read More ›

Existing Home Sales Fall Again Amid Soaring Home Prices

As low inventory continues to push home prices higher and squeeze out some buyers, existing home sales dropped to a eleven-month low in May, according to the National Association of Realtors (NAR). The median existing home price in May surged to an all-time high; the largest annual pace on record. Total existing home sales, including single-family homes, townhomes, condominiums and… Read More ›

Existing Home Sales Fall for the Third Straight Month

After reaching a record high in October, existing home sales, as reported by the National Association of Realtors (NAR), dropped to a ten-month low in April, as tight inventory continues to limit sales and fuel home price growth. The median existing home price in April surged to an all-time high and was the largest annual pace on record. Total existing… Read More ›

Pending Home Sales Dip Again in January

After reaching a record high in August, pending home sales slid for the fifth consecutive month, as surging home prices and low inventory constrain buyers. 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 2.8% from 126.4 in December to 122.8 in January, a… Read More ›

Existing Home Sales Continue to Rise in January

Fueled by low mortgage interest rates and strong demand, existing home sales, as reported by the National Association of Realtors (NAR), increased to three-month high in January. But surging house prices and inventory shortages could limit demand and slow the market. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, rose 0.6% to a seasonally adjusted annual rate… Read More ›

Pending Home Sales Continue to Fall Amid Low Inventory and Higher Prices

After reaching a record high in August, pending home sales slid for the fourth consecutive month, as surging 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 0.3% from 125.9 in November to… Read More ›

Existing Home Sales Reached 14-year High in 2020

As demand continues to be driven by low mortgage rates and a suburban shift for home-buying preference, existing home sales, as reported by the National Association of Realtors (NAR), ticked up in December and the annual sales tally reached the highest level since 2006. But surging house prices and inventory shortage could limit demand and slow the market. Total existing… Read More ›

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 ›