Despite last month’s slight retreat, existing-home sales jumped back up to their highest annual pace of the year. And on top of that, all major regions except for the Midwest experienced gains in September.
With cash-paying investors in a full retreat, existing home sales dropped 1.8% in August, according to the National Association of Realtors. "On the positive side, first-time buyers have a better chance of purchasing a home now that bidding wars are receding and supply constraints have significantly eased in many parts of the country,” said Lawrence Yun, NAR chief economist.
Existing home sales increased in July to their highest annual pace of the year, but are down 4.3% year over year, and the ongoing decline in distressed sales reached an important milestone, according to the National Association of Realtors.
Existing home sales declined 2.3% in June 2014 from June 2013, reaching an annual pace of 5 million sales for the first time since October 2013, while rising inventory continues to push overall supply towards a more balanced market, according to the National Association of Realtors.
According to newly released data from the National Association of Realtors, May’s existing home sales rose by nearly 5% over April’s numbers. May’s month-over-month gain of 4.9% was the highest monthly rise since August 2011.
The 4.9% increase in sales from April to May that’s making the dutifully exuberant headlines in the mainstream financial press isn’t the story. These four charts explain why they're putting lipstick on a pig.
In what was the most competitive awards program to date, HousingWire is proud to recognize the professional accomplishments of 30 women -- spanning every sector of the U.S. housing economy. Read the stories of our 2014 honorees, and be inspired..
If fair housing bluster were an Olympic event, the podium would be crowded with politicians and corporate mouthpieces. The injustice that once provoked marches and protests now evokes photo-ops and press releases. But have things truly changed? Read More
The sweeping CFPB TILA-RESPA integrated disclosures roll-out will affect almost every residential mortgage loan application that is submitted to a creditor on or after this date. Here, industry expert Jerry Halbrook dives into a breakdown of the wide-ranging impact of the new rule. Read More