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Pending home sales dropped 20% last month as more buyers find themselves priced out

By Mike Wheatley | July 29, 2022
Pending sales of existing homes dropped 20% in June compared with the same month a year ago, the National Association of Realtors said Wednesday. That is the slowest pace since September 2011, with the exception of the first two months of the coronavirus pandemic lockdowns, when sales plunged briefly and then rebounded sharply. On a […]
Housing, News

Existing home sales fell in May as rising rents and low supply weigh on affordability

By Mike Wheatley | June 22, 2022
Existing home sales declined again in May, falling by 3.4% to a seasonally adjusted annualized rate of 5.41 million units, according to new data from the National Association of Realtors. On a yearly basis, existing home sales were down 8.6% compared to May 2021. The NAR said the market is now at its weakest reading […]
home sold
Home Sales

Existing home sales rose 7% in September

By Mike Wheatley | October 25, 2021
Sales of existing homes jumped 7% in September to a seasonally adjusted annualized rate of 6.29 million units following a decline in August. However, sales are still down 2.3% from where it was a year ago, according to new data from the National Association of Realtors. At the same time, the available inventory of existing […]
Housing

Existing home sales rise in June as inventory improves

By Mike Wheatley | July 23, 2021
Existing home sales rose by 1.4% in June to a seasonally adjusted rate of 5.86 million units, following four months of declining sales. The sales numbers are based on transactions closed in the month, so they could be contracts signed in April or May, the National Association of Realtors reported. Sales are still up massively […]
Home Sales

Existing home sales fall in May, boosting housing inventory

By Mike Wheatley | June 25, 2021
Strong buyer demand coupled with limited housing inventories saw sales of existing-homes fall for the four month in a row in May. Existing home sales were down 0.9% compared to the month before, though they will still up 44% on a year over year basis, according to the National Association of Realtors in its latest […]
Home Sales, US Real Estate

Low inventories led to home sales decline last month, the NAR says

By Mike Wheatley | March 23, 2021
Existing home sales surprisingly reversed course in February, falling by 6.6% compared to the previous month, following several sharp monthly gains. That’s according to the National Association of Realtors, which said in a report that the sales dip is primarily due to low inventories of existing homes for sale in the U.S. However, the NAR’s […]
Featured News, Home Builders/Developer's, Home Sales, US Real Estate

Existing home sales explode, up 27% from last year

By Mike Wheatley | November 20, 2020
Existing home sales have risen for the fifth consecutive month as the housing industry continues to show its resilience in the face of the COVID-19 pandemic. The National Association of Realtors reported Thursday that homes sales are up an astonishing 27% from the same time one year ago. In addition, it was reported this week […]
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