Tag Archives: Pending-Home Sales

Pending home sales in July swelled to their second-highest numbers in more than a decade, in the face of the tight inventory. What drove the increase?

Tight inventory, affordability constraints, and uneven regional numbers had an adverse effect on pending home sales in June. The industry will find out how pending home sales fared in July when NAR publishes its report on Wednesday, August 31.

A number of factors hampered what was supposed to have been a boost to mortgage activity in June, leaving pending home sales up slightly but essentially flat for the month.

NAR chief economist Lawrence Yun said the strong demand that has been frustrating buyers and the spring’s swift sales “took a dent out of what was available for sale in May and ultimately dragged down contract activity.”

In April, pending home sales reached their highest point in a decade, contributing toward making 2016 the best spring homebuying season in a decade. Can they maintain that level in May?

For the third consecutive month in April, pending home sales rose to reach their highest level since February 2006, showing strong promise of more buyers entering the market.

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

Despite the rough start to the year, pending home sales recently rose to their highest level in seven months and are still higher than a year ago.

While winter months typically provide an expected seasonal cooling of the housing market, there are two other pressing factors in the equation that are keep buyers out of the market.

Recent reports have shown that increasing demand and low inventory levels are fueling home prices and are likely the driving factor of the recent uptick in construction spending, but will the U.S. Census Bureau deliver more promising news for an industry in need this week?