With consumers growing increasingly concerned about the economy and home prices increasing more, pending home sales slumped at the end of 2018, according to new data from the National Association of Realtors. The NAR’s Pending Home Sales Index is said to be a key forward-looking indicator of real estate market activity, based on contract signings.
Home sales hit hard by low housing inventory supply
Last month saw the number of new contract signings slump quite dramatically, as the industry suffers from an acute shortage of available housing inventory, the National Association of Realtors said on Thursday. The NAR’s Pending Home Sales Index, which is a forward-looking indicator based on contract signings, found that the only U.S. region to see
Pending home sales hit 2nd-highest level since May 2006
There was good news for housing markets in the last month as pending home sales bounced back to their highest level in almost one year, and second-highest level in over a decade, last month.
Home values up by 7% in 2016
The last month of 2016 saw big gains in the housing market, with home values rising by 6.8 percent compared to one year before.
Home values rise by 5% in the last year, Zillow says
U.S. home values have risen 5 percent over the past year, reaching a Zillow Home Value Index (ZHVI) of $188,100