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Tag Archives: Pending-Home Sales

October Pending Home Sales Reach 5-Year High

The Pending Home Sales Index (PHSI) rose 5.2 percent to 104.8 in October, its highest level since March 2007, the National Association of Realtors reported Thursday. Lawrence Yun, NAR chief economist, explained the jump by suggesting buyers are responding to favorable market conditions, noting "[w]e've had very good housing affordability conditions for quite some time, but we're seeing more impact now from steady job creation, and rising consumer confidence about home buying now that home prices have clearly turned positive."

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New Homes Sales Hit 30-Month High in September

New home sales jumped 5.7 percent in September to a seasonally adjusted average annualized rate of 389,000, the highest rate since April 2010, the Census Bureau and Department of Housing and Urban Development reported Wednesday. Economists surveyed by Bloomberg expected the report to show a sales pace of 385,000. The month-to-month sales improvement was the strongest since February, when sales improved 27,000, or 8.0 percent. While sales numbers improved, both the median and average sales price of a new home dropped.

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Florida Housing Market Continues Upswing in September

Florida

As national home sales and prices showed mixed results for September, Florida's market posted higher sales, higher pending sales, higher median prices, and a slightly down inventory for the month. Statewide closed sales of existing single-family homes totaled 15,643 in September, up 2 percent year-over-year. Meanwhile, pending sales rose 40.1 percent in the same period to 21,368. The statewide median sales price for single-family homes was $145,000 in September, up 7.4 percent from a year ago.

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Home Prices, Sales Experience Monthly Slump in September

The housing sector hit a speed bump in September as existing home sales dipped, the National Association of Realtors revealed Friday. The association reported existing home sales fell 1.7 percent to a seasonally adjusted annual rate of 4.75 million, the first decline in three months. The median price of an existing home dipped 0.5 percent or $1,000 from August to $183,900, but is up 11.3 percent ($18,600) from September 2011, the strongest year-over-year dollar increase since January 2006.

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August Pending Home Sales Show Surprising Decline

After reaching a two-year high in July, the Pending Home Sales Index (PHSI) fell in August to 99.2, the lowest level since April, according to the National Association of Realtors (NAR). Having previously predicted that the index would climb to 102.2, declining numbers in three of four census regions surprised analysts. The slippage in both the PHSI and new home sales dampens the outlook for home sales, but NAR emphasized that the August drop hadn't impacted longer-term trends, with the index up 10.7 percent in the last year.

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Pending-Home Sales Index Recovers in July: NAR

In another positive sign for the housing sector, the Pending Home Sales Index rose 2.4 percent in July to 101.7, its highest level since April 2010, the National Association of Realtors reported Wednesday. Economists had expected a 1.0 percent increase to 100.3. The July increase more than reversed an unexpected 1.4 percent drop to 99.3 in June. The only negatives in recent reports were a slight drop in housing starts in July and drops in the median price for existing and new homes in July.

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Price Appreciation Looms as Pending-Home Sales Rise in Miami

Following the recent month├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós change in the national Pending Home Sales Index from the National Association of Realtors, pending home sales declined month-over-month in June in Miami-Dade County, but went up year-over-year. While the national index moved down 1.4 percent from May to June, Miami's pending home sales declined 13 percent, according to the association and Miami├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Multiple Listing Services system. Miami├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós change in pending sales year-over-year was also more exaggerated than the change reported in the national index.

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Will Underwater Homeowners Lead to Higher Prices?

Underwater homeowners are contributing to a lower inventory of houses for sale on the market, but according to Capital Economics negative equity will not have a major impact on housing prices. Regardless of the impact of negative equity, both Capital Economics and the National Association of Realtors foresee rising prices in the near future. The percentage of underwater homeowners is falling but remains elevated. CoreLogic said that 11.4 million homeowners were underwater in the first quarter.

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Pending-Home Sales Make Strong Debut in May: NAR

The Pending Home Sales Index rose a strong 5.9 percent in May to 101.1, returning to its level of March, the National Association of Realtors said Wednesday. The index had slipped in April to 95.5 after reaching its highest level since April 2010. The index is up a solid 13.3 percent since May 2011. The report is another in a string of positive signs for the housing sector. Pending home sales are counted when sales contracts are signed, and are viewed as a leading indicator of existing home sales, according to NAR.

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