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Pending home sales surged in December: NAR

Housing Wire

month over month in December, according to the newest data from the National Association of Realtors (NAR). For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. The trade group also predicts that rent growth will ease due to sizable growth in apartment construction over the past three years.

Contracts 445
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Will Springer Realtor - Untitled Article

Will Springer Realtor

Builders are trying to catch up and, according to federal officials , there are more housing units under construction today than at any time in the last 50 years. An annual survey released this month by the Federal Reserve Bank of New York said renters put the probability of ever owning a home at 40%, down from 44% last year.

HOA 36
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IN DIRE NEED OF GENERATIONAL RESPONSE TO HOUSING SHORTFALL

Will Springer Realtor

million housing units since 2001. There is a strong desire for homeownership across this country, but the lack of supply is preventing too many Americans from achieving that dream,” said Lawrence Yun, chief economist for the National Association of Realtors® (NAR). A surprising 3% used the time to build a new house.

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PREDICTIONS, PARKING, POLLUTED PIPES

Will Springer Realtor

Just for Fun: In December 2022, the National Association of Realtors® projected mortgage interest rates would be 5.7% >> A survey of the largest 50 cities determined Redmond is the 10 th -most active for new apartment construction. List: $33.9M ($3291/sq. at this time in 2023 (quite optimistic!). San Jose, Calif.,