Tag Archives: Existing-Home Sales

According to Mark Fleming, chief economist at First American, the biggest takeaway is that the housing market, particularly the existing homes sector, is drastically underperforming. The impetus for this underperformance, he said, is an overall lack of buyer equity throughout the nation.

Sales are 4.7 percent higher than a year ago and above year-over-year totals for the fifth consecutive month. The median existing home price for all housing types in February was $202, 600. That is 7.5 percent above the February 2014 price. This marks the 36th consecutive month of year-over-year price gains since last year.

There’s good news and bad news for January’s existing-home sales, according to the National Association of Realtors. On the one hand, sales in January, for the fourth straight month, were ahead of the pace of sales a year ago. On the other hand, existing-home sales in all major regions declined last month to their lowest rate in nine months, with the West and Northeast getting the worst of it.

The National Association of Realtors (NAR) said Thursday that its Pending Home Sales Index (PHSI) declined 3.7 percent last month to a reading of 100.7. Economists expected a 0.9 percent gain. Lawrence Yun, chief economist for NAR, blamed the monthly downswing on a drop in for-sale homes and an acceleration in price growth.

Based on company transactional data and Google search activity, Auction.com predicted Monday that existing-home sales in January will come in at a seasonally adjusted annual rate of 5.06 million, just slightly above the National Association of Realtors' (NAR) December estimate of 5.04 million.

The National Association of Realtors (NAR) said Friday that sales of pre-owned homes rose 2.4 percent month-over-month in December to a seasonally adjusted annual rate of 5.04 million. It was the sixth time in the past seven months in which existing-home sales topped an annual rate of 5 million.

Three of the five indicators in Trulia's quarterly housing barometer—existing-home sales, excluding distressed sales; home price level; and delinquency plus foreclosure rate—are all more than three-quarters of the way "back to normal" as of the end of 2014, according to the company.

The National Association of Realtors (NAR) reported a 0.8 percent month-over-month increase in its Pending Home Sales Index to a reading of 104.8 in November. With the most recent increase, the index has now posted annual gains for three straight months, lining up with recent improvements in existing-home sales activity.

In its latest Nowcast projections, online real estate auction company Auction.com calls for pre-owned home sales to fall between seasonally adjusted annual rates of 4.79 and 5.18 million for December, with a targeted number of 4.98 million.

Sales of newly built single-family properties fell 1.6 percent month-over-month to a seasonally adjusted annual rate of 438,000 in November, according to a report from the Commerce Department. October's sales rate was revised down to 445,000, meaning the month actually saw a decrease as opposed to the slight increase that was originally recorded.