Items Tagged with 'Existing home sales'

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Existing home sales soar to highest pace in more than a decade

Homes flying off the market
Existing home sales increased in March to the highest pace in more than a decade and home were sold significantly faster than last month and last year. However, one factor continues to put pressure on home buyers and hold back home sales: inventory. NAR’s chief economist explains that unless the market sees new inventory soon, home price increases will continue to outpace incomes.
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Existing home sales come down off 10-year high

January still shows annual increase
Existing home sales slipped down off last month’s decade-high, but remained above last year’s levels. But considering January’s drop in pending home sales to the lowest level in a year, this decrease comes as no surprise.
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Ten-X predicts fall in February’s existing home sales

Limited inventory starts to take its toll
Existing home sales shot up in January, but don’t expect the following months to follow suite. At least, not according to Ten-X’s Nowcast prediction. And from the looks of January’s pending home sales, the report is on the right track. As one expert put it: you can’t buy a home that’s not for sale.
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Pending home sales hit lowest level in a year

Struggle with insufficient supply levels
Pending home sales dropped in January to its lowest level in a year as the lack of housing supply fought against the increasing buyer demand. While demand for homes is at its highest point since the Great Recession, affordability may force buyers into less expensive locations or smaller homes.
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Ten-X predicts increase in January existing home sales

But will struggle with low inventory
After December’s decrease in existing home sales, Ten-X predicts January will bring a fresh start with new increases. It also predicts a continued rise in home prices for the month. Here’s more on the company’s predictions, and how close those predictions were in December.
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