Articles Tagged with ''Pending Home Sales''

Improving economy can’t push home sales higher

Pending home sales see third consecutive annual decline
Pending home sales decreased annually in March, and are showing no signs of improvement as housing inventory fails to keep up with homebuyer demand. NAR explained healthy economic conditions are creating considerable demand for purchasing a home, but not all buyers are able to sign contracts because of the lack of choices in inventory.
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Spring home buying season begins: pending home sales rise

Low inventory levels still restricting market
The spring home buying season is already beginning as pending home sales reversed course and increased in much of the country in February. NAR explained the expanding economy and healthy job market are generating sizable homebuyer demand, but the minuscule number of listings on the market and its adverse effect on affordability are squeezing buyers and suppressing overall activity.
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Pending home sales dip to lowest level in 3 years

Housing inventory hits all-time low for January
Pending home sales dropped suddenly in January, falling to the lowest level in more than three years. In addition to new home construction making progress closer to its historical annual average of 1.5 million starts, NAR explained two other factors must start occurring to alleviate the excruciatingly low supply levels that are slowing sales.
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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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