Items Tagged with 'Pending Home Sales'

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Lack of housing supply slows pending home sales in March

Numbers still indicate strong home-buying season
Pending home sales dipped slightly in March as low levels of housing inventory created a strain on the market. Low inventory levels are not only holding back home prices, but also creating more competition and increasing home prices. The National Association of Realtors forecasts the rate of home sales for 2017.
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Northwest sees new listings soar by 50%

Market prepares for frenzied spring
New listings flooded the market in March, but pending home sales increased even more, leaving the region to struggle with its low inventory levels. Experts from the Washington state area give the latest update on the market and predict a frenzied spring homebuying season.
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Pending home sales rebound to highest level in a year

Hit second highest level this decade
Pending home sales rebounded from January’s decrease, hitting the highest level in almost a year and the second-highest level in a decade. NAR’s chief economist commented that buyers came back in force last month as a modest, seasonal uptick in listings was enough to fuel an increase in contract signings throughout the country.
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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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Pending home sales close out 2016 on a high note

NAR explains what to watch for in 2017
Pending home sales finished the year out strong with an increase in December. However, sales were still weighed down by low inventory levels. The National Association of Realtors’ chief economist explains why that burden could start to lessen in 2017.
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Rising interest rates already slowing home sales

Pending home sales fall to lowest level since January
Recent reports showed the impact of the post-election rise in mortgage interest rates on borrowers looking to refinance, with higher interest rates shrinking the pool of borrowers who have incentive to refinance. Now, the housing industry is getting its first look at how higher interest rates may also affect the purchase market, as a new report from the National Association of Realtors shows that pending home sales slowed in November to the lowest level since January.
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Pending home sales hit highest level since July

Existing home sales for 2016 expected to be at highest pace since 2006
Pending home sales increased slightly in October, by enough to hit the highest level since July. In fact, the National Association of Realtors' chief economist believes that, at this pace, this year could close out with the highest pace in existing home sales since 2006.
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