Tag Archives: Lawrence Yun

NAR reports that pending home sales rose in October, with buyers fearing a spike in rates took advantage of the limited supply available.

A slight month-over-month uptick of 0.8% in October continued the trend of a second straight month of gains for this metric.

Continued shortages in building materials, labor, and land contributed to a monthly decline in October new housing starts.

Overall mortgage application and refi volume fell week-over-week, as well as dropping 31% year-over-year.

Buying homes at an auction is becoming more mainstream, as consumers explore new purchase options in a market of high prices and tight inventory.

Home sales may be at their highest levels in 15 years, but a number of factors may force the market to cool next year.

For the first time in over a month, mortgage rates have dropped below the 3% mark, signaling a strong finish for the purchase and refi markets to close out 2021.

NAR reports that in all regions, contract signings decreased from the prior month, and from one year ago, as some potential buyers momentarily pause their home search heading into Q4.

After two months of declines, pending home sales found their way onto the path to recovery at the end of Q3 2021.

This week, NAR releases its pending home sales report for August, gauging how Q3 2021 concluded in a red-hot year for the housing market.