Housing Wire
JANUARY 26, 2024
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. The Northeast was the only region to see a decline in contract signings, with a drop of 3% month over month and 3.9%
Housing Wire
JANUARY 3, 2023
“Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates , which climbed at one of the fastest paces on record this year, drastically cut into the number of contract signings to buy a home,” Lawrence Yun, NAR’s chief economist, said in a statement. On a month over month basis, all four of the major U.S.
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Housing Wire
JUNE 29, 2023
An index of 100 is equal to the level of contract activity in 2001. Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing,” Lawrence Yun , the chief economist of NAR, said in a statement. annual drop recorded in April.
Housing Wire
APRIL 27, 2023
An index of 100 is equal to the level of contract activity in 2001. In the new construction sector , NAR predicts sales to increase 4.5% For the first time since November 2022, pending home sales fell in March, posting a 5.2% The monthly drop resulted in the Pending Home Sales Index recording a reading of 78.9, year over year.
Housing Wire
JULY 27, 2023
An index of 100 is equal to the level of contract activity in 2001. Increased homebuilding will tame price growth, while limited construction will lead to home price appreciation outpacing income growth.” On the flip side, newly constructed home sales are forecast to increase 12.3% in 2023, to 720,000.
Housing Wire
FEBRUARY 27, 2023
An index of 100 is equal to the level of contract activity in 2001. The NAR attributes this to the rising costs of land and construction materials. “In “Buyers responded to better affordability from falling mortgage rates in December and January,” Lawrence Yun, NAR’s chief economist, said in a statement. compared to a year ago.
Housing Wire
APRIL 29, 2021
The trade group reported that pending home sales – that is homes where a buyer signed a contract, but the sale has not closed – rose 1.9 % index points to 111.3 Though homes in contract are not always closed, the index figure is a strong indication that home sales will rebound in the coming months after an inventory-induced decline.
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