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Tag Archives: Existing-Home Sales

Pending Home Sales Recover After June Drop

The National Association of Realtors (NAR) reported Thursday a 3.3 percent monthly increase in its Pending Home Sales Index for July, putting the index at 105.9. With July's increase, the index has now risen for four of the last five readings, seeing a slight retreat in June. NAR Chief Economist Lawrence Yun said sales activity benefited from increasingly favorable conditions for buyers in the housing market.

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Existing-Home Sales Hit 2014 High

The National Association of Realtors (NAR) reported on Thursday that sales of existing homes (including single-family houses, townhomes, condominiums, and co-ops) hit a seasonally adjusted annual pace of 5.15 million last month, up 2.4 percent from a downwardly revised June. Looking only at single-family homes, July sales improved 2.7 percent month-over-month to a seasonally adjusted pace of 4.45 million but still fell 4.2 percent short of last year.

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Pending Home Sales Wane in June

NAR's Pending Home Sales Index, an indicator of future home sales based on contract signings, fell to 102.7 last month, down 1.1 percent from May and 7.3 percent from June 2013. NAR chief economist Lawrence Yun said that while the housing market is stabilizing, ongoing challenges are holding sales back from their full potential.

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June Existing-Home Sales Reach Eight-Month High

The National Association of Realtors (NAR) reported a 2.6 percent month-over-month rise in existing-home sales last month to a seasonally adjusted annual rate of 5.04 million. May sales were revised slightly upward to a rate of 4.91 million. June sales were at their highest pace since October 2013, though they remain 2.3 percent down from the 5.16 million pace set a year ago.

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May Existing-Home Sales Up 4.9%

Existing-home sales rose in May at their highest monthly growth rate in years as inventory continued to expand, the National Association of Realtors (NAR) reported Monday. According to NAR, total existing-home sales jumped 4.9 percent last month to a seasonally adjusted annual rate of 4.89 million. It was the biggest month-over-month boost since August 2011, when sales picked up 5.5 percent, the group reported.

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Pending Home Sales Rise 0.4% in April

The National Association of Realtors' (NAR) recorded a 0.4 percent gain in Pending Home Sales Index (PHSI) for April, bringing it up to 97.8. A measure of contract signings, the index serves as a forward-looking indicator for future sales activity. "Higher inventory levels are giving buyers more choices, and a slight decline in mortgage interest rates this spring is raising prospective buyers' confidence," said Lawrence Yun, chief economist at NAR.

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Existing-Home Sales Up for First Time in 2014

According to the National Association of Realtors (NAR), total existing-home sales rose 1.3 percent to a seasonally adjusted annual rate of 4.65 million in April. "Some growth was inevitable after sub-par housing activity in the first quarter, but improved inventory is expanding choices and sales should generally trend upward from this point," said Lawrence Yun, NAR chief economist.

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Fannie Trims Growth Forecast in Wake of Q1 Disappointment

To its credit, Fannie Mae did not expect soaring growth in the 2014 housing market in the first place. But even its hopes for modest growth have cooled as the lingering effects of a harsh winter and a combination of reduced affordability and consumer reticence regarding mortgages weigh down the national housing market.

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Report: Recovery Testing Normal Economic Assumptions

The continued—and oddly sluggish—recovery cycle the U.S is currently experiencing in not, according to a new report by Fitch Ratings and Oxford Analytica, on course to run the typical peaks-and-valleys cycle of the five major economic expansion periods the U.S. has experienced since the early 1970s.

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Pending Home Sales Crawl Up After Long Sleep

Following months of stagnancy, the National Association of Realtors’ (NAR) measure of pending home sales rose in March, the group reported. According to the latest release, NAR’s Pending Home Sales Index (PHSI) rose to 97.4 last month, up 3.4 percent from February’s upwardly revised 94.2. It was the first real pickup in the last nine months, the association said. NAR’s chief economist said the increase was expected with the end of last season’s severe weather.

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