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Economist warns of 'inevitable' slowdown in home price appreciation

By Mike Wheatley | June 2, 2022
A top economist has warned sellers that a slowdown in home price appreciation is all but inevitable as the economy falters. In an interview with CNBC, National Association of Realtors’ chief economist Lawrence Yun said that the housing market is already showing signs of slowing down, with rising mortgage rates adding to already high prices […]
Home Sales

NAR: Pending home sales fall in November

By Mike Wheatley | December 31, 2021
Overall pending home sales in the U.S. fell in November as multiple markets struggle with record low inventories of homes for sale. Even so, economists say they’re optimistic that buyers will have more opportunities to buy a home next year. The National Association of Realtors reported that its Pending Home Sales Index dropped 2.2% in […]
Housing

Winter home sales will be hot, economists believe

By Mike Wheatley | November 28, 2021
Real estate experts believe the housing market could be unseasonably hot this winter, with above-normal levels of home buying activity. Lawrence Yun, chief economist of the National Association of Realtors, said he fully expects sales activity this winter to be stronger than compared to past years. “This winter there will be more sales compared to […]
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 […]
Home Sales, US Real Estate

NAR says contract signings fell 16% in March

By Mike Wheatley | May 1, 2020
The National Association of Realtors said that contract signings fell significantly in March as many housing markets paused due to the coronavirus pandemic. The new figures came in the NAR’s latest Pending Home Sales Index, which is a forward-looking indicator based on contract signings. It said the Index fell by 20.8% in March compared to […]
Home Builders/Developer's, US Real Estate

Future housing permits at their highest level in 13 years

By Mike Wheatley | February 25, 2020
January saw total housing starts fall by 3.6%, but economists were more focused on home building permits, which are a gauge of future house building. And what they saw left them upbeat about what could be coming, as housing permits rose to their highest level since March 2007. Even so, the dip in housing starts […]
Home Builders/Developer's

New home sales hit 12-year high

By Mike Wheatley | December 27, 2019
New home sales enjoyed their best three-month performance since 2007 after seeing a big uptick in November, according to U.S. Commerce Department data published Monday. Economists say low mortgage rates and unemployment combined with strong sales growth led to the boost in sales. All told, sales of new single-family homes jumped 1.3% in November to […]
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