Tag Archive for ‘pending home sales index’

Existing Home Sales Slowed in March

After reversing a 12-month slide last month, existing home sales retreated in March as mortgage rates began to increase again in February, according to the National Association of Realtors (NAR). With inflation continuing to ease and rent growth expected to slow, existing home sales will rebound, despite the slight drop in March. Total existing home sales, including single-family homes, townhomes,… Read More ›

Existing Home Sales Surged in February

A brief drop in mortgage rates and a pullback in home prices boosted existing home sales in February, according to the National Association of Realtors (NAR). The 30-year mortgage rates averaged less than 6.3% in February per Freddie Mac and the median sales price in February posted the first decline since February 2012.  The monthly increase in sales ended a… Read More ›

Existing Home Sales Continue to Fall in January

As elevated mortgage rates and tight inventory continue to weaken housing demand, the volume of existing home sales declined for a twelfth consecutive month as of January, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999. While mortgage rates have stabilized in January, they are likely to see a rise in the… Read More ›

Existing Home Sales End 2022 with Weakest Year Since 2014

As elevated mortgage rates and tight inventory continue to weaken housing demand, the volume of existing home sales declined for an eleventh consecutive month as of December, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999. While mortgage rates have retreated in recent weeks due to recession concerns, they are likely to… Read More ›

Existing Home Sales Decline Further in November

As rapid rising mortgage rates continue to weaken housing demand, the volume of existing home sales has declined for ten consecutive months as of November, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999. While mortgage rates have retreated in recent weeks due to recession concerns, they are likely to see another… Read More ›

Existing Home Sales Fall to Near Two-Year Low

As rising mortgage rates and higher home prices continued to price out first-time and young homebuyers and reduce affordability, existing home sales dropped to the lowest level since June 2020, according to the National Association of Realtors (NAR). However, the trend in home price appreciation continued as supply remained tight. Total existing home sales, including single-family homes, townhomes, condominiums and… Read More ›

Existing Home Sales Fall in February

As rising mortgage rates and home prices continued to price out homebuyers and reduce affordability, existing home sales dropped to a six-month low in February, according to the National Association of Realtors (NAR). Furthermore, home price appreciation is expected to slow in the coming quarters as demand cools and supply improves. Total existing home sales, including single-family homes, townhomes, condominiums… Read More ›

Existing Home Sales Rebound Amid Record-Low Inventory and Higher Prices

Despite record-low inventory and higher prices, existing home sales jumped in January as buyers expected further rate increases and locked in current low rates, according to the National Association of Realtors (NAR). However, investors with all-cash offers were squeezing out first-time and young homebuyers. More supply especially at lower-end market is needed in order to improve housing affordability. Total existing… Read More ›