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Opinion: Here’s the latest data on what Realtors are witnessing in the housing market

Housing Wire

However, there are a number of attention-grabbing headlines, which unfortunately only compare today’s housing market to the very recent history of the last two years. It is always good to know where we are with the real estate market, but it is essential to keep all data in historical perspective. . Historically 2.5

Realtors 392
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Pending home sales rise for the first time since May 2022

Housing Wire

Pending home sales ended 2022 on a positive note. according to data released Friday by the National Association of Realtors (NAR). Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.” month over month in December to a reading of 76.9,

Contracts 414
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Pending home sales fell 7.1% in August

Housing Wire

in August, according to data released Thursday by the National Association of Realtors (NAR). below the August 2022 level. An index of 100 is equal to the level of contract activity in 2001. Pending home sales, like new home sales, are based on contract signings. All four regions of the U.S.

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Pending home sales up slightly in September: NAR

Housing Wire

in September despite significant affordability hurdles weighing on the market, according to data released Thursday by the National Association of Realtors (NAR). Compared to 2022, NAR expects the sale of new homes to grow by 4.5% Lastly, they predict that housing starts will drop by 10.4% in September.

Inventory 393
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February pending home sales disappoint, but maybe we’re turning a corner?

Housing Wire

Pending home sales rose for the third month in a row in February, but at 0.8%, the uptick over January was less than is typically seen in the run-up to the spring housing market. Month-over-month, contract signings increased in three U.S. regions, but declined in the West, according to the National Association of Realtors.

Contracts 300
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Pending home sales were flat in April, but the South is a bright spot

Housing Wire

After falling for the first time since November 2022 in March , pending home sales remained unchanged in April, according to data released Thursday by the National Association of Realtors (NAR). An index of 100 is equal to the level of contract activity in 2001. annual drop recorded in March.

Inventory 375
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Fed’s interest rate hike to create less competition in the housing market 

Housing Wire

Mortgage rates leading up to June’s Fed rate hike surpassed the 6% level as higher-than-expected inflation data triggered volatility in the market, which led to turbulence in mortgage rates. through the rest of 2022. Census and the Department of Housing and Urban Development. I think it’s already priced in the market.”.