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Tag Archives: Pending-Home Sales

Pending Home Sales Crawl Up After Long Sleep

Following months of stagnancy, the National Association of Realtors’ (NAR) measure of pending home sales rose in March, the group reported. According to the latest release, NAR’s Pending Home Sales Index (PHSI) rose to 97.4 last month, up 3.4 percent from February’s upwardly revised 94.2. It was the first real pickup in the last nine months, the association said. NAR’s chief economist said the increase was expected with the end of last season’s severe weather.

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Pending Home Sales Down to Lowest Level Since 2011

The National Association of Realtors (NAR) reported yet another monthly decline in its measure of pending home sales, indicating continued softness in future sales figures. According to the latest monthly report, the group’s Pending Home Sales Index (PHSI)—a metric based on contract signings—dipped 0.8 percent in February to a reading of 93.9, its lowest point since October 2011. It was the eighth decline in as many months.

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Fannie Mae Undeterred by Housing Cold Snap

Fannie Mae released its latest economic forecast, which acknowledged that atypically harsh winter weather in much of the United States has slowed new home construction and sales in Q1 2014. But the report also reaffirms Fannie Mae's position that the economy and housing markets will improve on 2013 growth by the end of the year's fourth quarter.

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January Pending Sales Essentially Flat

The National Association of Realtors' Pending Home Sales Index, a forward-looking indicator based on contract signings, edged up 0.1 percent to an even 95 last month as regional gains and declines offset each other. While it was hardly a banner report, January’s gain at least turned around the prior month’s originally reported 8.7 percent decline to 92.4, the lowest reading since November 2011.

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Another Week, Another Drop in Mortgage Rates

In its weekly published Primary Mortgage Market Survey, Freddie Mac put the average 30-year fixed mortgage rate at 4.23 percent (0.7 point) for the week ending February 6, down from 4.32 percent previously. Frank Nothaft, VP and chief economist for Freddie Mac, once again pointed to weaker housing data as a factor in this week's rate changes, noting declines in December pending home sales and a negative contribution to GDP from fixed residential investment.

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December Pending Home Sales Weakest Since 2011

The National Association of Realtors' (NAR) Pending Home Sales Index (PHSI) fell in December to its lowest level in more than two years, with declines reported in all four of the country's major regions. The index, a forward-looking sales indicator based on contract signings, dropped 8.7 percent to 92.4 from a downwardly revised reading of 101.2 in November. December's index was at its lowest measure since October 2011, when it read 92.2.

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Interest Rates Rise to Open New Year

Mortgage rates began 2014 with a round of increases, kicking off a trend many experts believe will continue through the rest of the year. Freddie Mac's weekly Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) averaging 4.53 percent (0.8 point) for the week ending January 2, up from the last week of 2013, when it averaged 4.48 percent. Meanwhile, Bankrate.com reported the 30-year fixed at 4.69 percent, a gain of 6 basis points.

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Pending Home Sales Maintain Holding Pattern

Pending home sales remained essentially flat in November, with regional shifts more or less offsetting each other, the National Association of Realtors (NAR) reported. The group's Pending Home Sales Index (PHSI), used as an indicator for expected home sales, bumped up slightly to 101.7 in November from October's downwardly revised 101.5. Compared to last November, the latest index was down 1.6 percent. NAR chief economist Lawrence Yun said the data indicates a flattening market.

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October Pending Home Sales Down 0.6%

The National Association of Realtors' (NAR) Pending Home Sales Index (PHSI), a forward-looking sales indicator based on contract signings, was 102.1 in October, a drop of 0.6 percent from September's revised level of 102.7. It was the fifth consecutive monthly decline. "The government shutdown in the first half of last month sidelined some potential buyers," said NAR chief economist Lawrence Yun. "In a survey, 17 percent of Realtors reported delays in October, mostly from waiting for IRS income verification for mortgage approval."

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September Pending Home Sales Indicate Flat Fourth Quarter

The National Association of Realtors' (NAR) Pending Home Sales Index (PHSI) for September indicates home sales will stumble in the year's final quarter as buyers struggle with declining home affordability. "This tells us to expect lower home sales for the fourth quarter, with a flat trend going into 2014. Even so, ongoing inventory shortages will continue to lift home prices, though at a slower single-digit growth rate next year," said NAR chief economist Lawrence Yun.

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