Articles Tagged with ''Pending Home Sales''

NAR: Pending home sales rise for 3rd straight month, but there’s trouble on the horizon

Realtors wary of tax reform impact on home sales
Pending home sales rose in December for the third straight month, providing further evidence that 2017 was a positive year for housing, but the National Association of Realtors doesn’t expect the good times to keep rolling. But combine continually low housing inventory and the Republican tax plan and you have a recipe for a slowdown, according to NAR Chief Economist Lawrence Yun.
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Existing home sales set to end the year at highest point since 2006

Home prices to slow in 2018
Pending home sales inched up slightly in November, indicating home sales may rise to their highest point since 2006. But even as home sales increase at the end of this year, headed into 2018, NAR forecasts existing home sales and home price growth will slow primarily due to the altered tax benefits of homeownership in some high cost areas.
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Pending home sales suddenly rebound in October

Remain below last year’s levels
Pending home sales rebounded in October, reaching its highest point since June after three months of declines. The increase was driven by a sudden jump in the South, which is recovering from recent hurricane activity. However, as experts expected, pending home sales remain below last year’s levels.
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Home sales predicted to continue downward track in August

Home prices predicted to fall
Ten-X predicts existing home sales will continue to fall, dropping slightly in August. However, it predicted home prices could see a slight drop from July. The combination of falling inventory and rising prices is proving to be a difficult hurdle for the market to overcome.
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Pending home sales decrease slightly in July

Marks fourth decrease in five months
Pending home sales decreased slightly in July, marking the fourth monthly decrease in the past five months and the third annual decrease in the past four months. But the National Association of Realtors explained this drop is not due to the lack of housing demand.
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Pending home sales reverse 3-month downward trend

Increase 1.5% in June
Pending home sales reversed course in June with an increase after months of reported declines. In fact, the report even upwardly adjusted May’s sales to reflect a slight increase. Despite the increasing sales, homebuyers continue to struggle with record-low levels of housing inventory.
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Pending home sales see largest drop since 2014

Drop for second consecutive month
Pending home sales dropped for the second consecutive month as low inventory levels continue to hold back property purchases. April’s drop represents the first annual decrease since December and the largest decrease since 2014. As for the forecast – inventory levels won’t be increasing anytime soon.
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