Tag Archives: NAR

Existing-homes sales have been up against unfavorable odds including inventory shortages, soaring home price appreciation, and stagnant household income growth. However, they defied those odds and came out on top for the second consecutive month.

Although the market may be facing challenges such constrained inventory and home price appreciation outpacing wage growth, existing-home sales have a bright future ahead, according to industry economists. Where will existing-home sales land this week?

An uptick in home sales coupled scarce supply levels kept home prices on the rising path in the majority of metro areas during the first quarter of the year.

Pending home sales returned with a vengeance in March to the highest reading since May 2015, despite inventory deficiencies and rising home prices.

Homebuyers overcame one of the housing market's biggest obstacles—an imbalance in supply and demand— in March with a rebound in home sales.

The continuous imbalance of extremely low inventory levels and soaring demand is creating a gap in the housing market. Existing-home sales have been in limbo since the start of the year mostly due to the lack of available housing options in market. Where will they fall this week?

The index, an indicator of sales based on contract signings, was released this morning. It showed a 1.1 percent increase in pending sales for March and an 11.1 percent increase over the same time last year. This marks the third month in a row the sales have risen and the seventh year that pending sales numbers have improved.

Approximately 350,000 borrowers eligible for re-purchase are currently unable to do so due to tight financial markets, and as many as 260,000 borrowers may never return to homeownership at all, the report says, because their former loans were backed by loose lenders.

Co-hosted by the National Association of Realtors (NAR), The Asian Real Estate Association of America, and the National Association of Hispanic Real Estate Professionals, the event included two roundtable discussions and a keynote address from Castro. Realtors within these organizations believe in safe access to mortgage credit for borrower who can show they are able to own a home and keep up with payments. However, due to restrictive lending many of the qualified borrowers are not able to enter the housing market, according to NAR President Chris Polychron.

Based on the latest Google Trends data and updated housing market data tracked by Auction.com – which together indicate a shift in March home sales – the adjusted Auction.com Nowcast projections are slightly higher than those released on March 24. The original nowcast called for a range between 4.83 and 5.12 million, with a targeted number of 4.97 million.