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Pending home sales recede in January: NAR

Housing Wire

month over month in January, 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. ” Lower mortgage rates buoyed buyer demand in early 2024, but rates started to inch back up toward 7% in February.

Contracts 372
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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. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates.

Contracts 446
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Pending home sales are down 31% from last year

Housing Wire

according to data released Friday by the National Association of Realtors. An index of 100 is equal to the level of contract activity in 2001. The Federal Reserve has had to drastically raise interest rates to quell inflation, which has resulted in far fewer buyers and even fewer sellers.”. in September. All four major U.S.

Contracts 509
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Home inventory is climbing even faster than this time a year ago

Housing Wire

This is a demand-driven slowdown, because new listings supply is still running 9% to 10% fewer homes for sale each week than this time last year. We’re seeing fewer new sellers each week, but inventory is building as homebuyers wait to see if mortgage rates will come down to make purchases more affordable. from last week.

Inventory 482
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Existing-home sales have nowhere to go but up in 2024? 

Housing Wire

million, according to the N ational Association of Realtors. Homes typically go under contract a month or two before the closing, which means the October data largely reflects purchase decisions made in August and September. Existing-home sales dropped 4.1% Compared to October 2022, existing home sales slumped 14.6%, down from 4.44

Inventory 379
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Rising insurance costs, ample inventory create a unique market in Southwest Florida

Housing Wire

“I think one of the major trends we are seeing is that our overall inventory is up 60% year over year compared to 2023,” said PJ Smith, president of the Naples Area Board of Realtors and the broker-owner of Naples Golf to Gulf Real Estate. “We Smith attributes the uptick in inventory to a bump in new listings.

Insurance 365
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Insatiable demand drives July pending home sales up 15% annually

Housing Wire

The seasonally-adjusted index measuring signed contracts was up 15.5% year over year, largely on the back of pent-up demand from buyers who were unable to strike deals during the spring, said Lawrence Yun, chief economist of the National Association of Realtors. “We pending home sales rose 5.9% million, a 1.1%

Contracts 477