Tag Archives: Pending-Home Sales

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?

Buyers that signed contracts to buy existing homes are being stopped by one major problem in the housing market—fewer options in the housing market.

NAR Chief Economist Lawrence Yun believes pending home sales have been restrained in the fall season as "buyers struggle to overcome a scant number of available homes for sale and prices that are rising too fast in some markets."

Pending home sales loss more momentum in September 2015 for the second consecutive month due to scarce housing inventory, the National Association of Realtors announced Thursday.

The National Association of Realtors found pending home sales fell in August as contract signings modestly declined, but they still project healthy supply and demand and price growth.

Pending home sales increased slightly in July for the sixth time in seven months, according to the National Association of Realtors. The Pending Home Sales Index increased 0.5 percent to 110.9 in July from an upwardly revised 110.4 in June.

For the first time in 2015, pending home sales declined in June, slowing momentum in the height of the homebuying summer season.

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.

The Pending Home Sales Index rose 3.1 percent to 106.9 in February from a slight downward revision of 103.7 in January and is 12 percent about the February 2014 number of 95.4. The index is at its highest level since June 2013 and has increased year-over-year for six consecutive months and is above 100, considered an average level of activity, for the tenth consecutive month.

The National Association of Realtors (NAR) said Thursday that its Pending Home Sales Index (PHSI) declined 3.7 percent last month to a reading of 100.7. Economists expected a 0.9 percent gain. Lawrence Yun, chief economist for NAR, blamed the monthly downswing on a drop in for-sale homes and an acceleration in price growth.