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Tag Archives: Pending-Home Sales

Pending Sales See Third Straight Monthly Drop

Responding again to higher mortgage rates, the Pending Home Sales Index (PHSI) slipped for the third straight month, dropping 1.6 percent in August to 107.7--the lowest level since April, the National Association of Realtors (NAR), which compiles the index, reported Thursday. NAR chief economist Lawrence Yun said the drop was expected as a consequence of buyers accelerating purchase decisions while mortgage rates were first increasing.

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New Home Sales Recover From July Plunge

Builders lowered prices and buyers responded in August, pushing new home sales up 7.9 percent to 421,000, reversing almost half of July's 64,000 drop in sales, the Census Bureau and HUD reported Wednesday. The report for August showed a slight shift away from higher-priced homes as houses priced at $500,000 or more accounted for 9 percent of August sales, down from 12 percent in July. Homes priced at $300,000 or less represented 63 percent of all August sales, unchanged from July.

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Higher Rates, Prices Push Pending Sales Down

Responding to higher mortgage rates and higher prices, the National Association of Realtors' (NAR) Pending Home Sales Index (PHSI) slipped 1.3 percent in July--the steepest decline this year--to 109.5, the group reported Wednesday. Economists had expected the index for July would drop to 109.8, which would have been a 1.0 percent decline from June's 110.9. Despite the month-over-month decline, July's PHSI is up 6.7 percent over the same month last year.

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July New Home Sales Plunge to 9-Month Low

The seasonally adjusted annual rate of new home sales dropped a stunning 13.4 percent to 394,000 in July. Economists surveyed by Bloomberg expected June sales to drop to 487,000 from June's originally reported 497,000. June sales were revised to 455,000. The report for July showed a slight shift to higher-priced homes as houses priced at $500,000 or more accounted for 11 percent of July sales, up from 9 percent in June. Homes priced at $300,000 or less represented 62 percent of all July sales, down from 64 percent in June.

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Pace of New Home Sales Climbs to Five-Year High

The seasonally adjusted annual rate of sales welled 8.3 percent in June to 497,000, according to a report from the Census Bureau and HUD. Economists surveyed by Bloomberg expected June sales to increase to 484,000 from May's originally reported 476,000. The median price of a new home fell 5.0 percent in June to $249,700, the third time the median price has dropped in the last four months. At the same time, May's median price was revised down to $262,800 from the originally reported $263,900.

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Home Price Boost Sends Sales Down in June

Existing-home sales fell 1.2 percent in June to an annual sales rate of 5.08 million as the price of a single-family home rose 13.5 percent from a year earlier--the strongest year-over-year gain since November 2005, the National Association of Realtors (NAR) reported Monday. The drop in sales came despite an increase in April in NAR├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Pending Home Sales Index, which tracks contracts for existing single-family homes. The index rose in April to 105.7 from 104.1 in March and fell in May.

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Existing-Home Sales, Prices Up in April, Activity Constrained

Existing-home sales rose a 0.6 percent in April to an annual sales rate of 4.97 million, the highest level since November 2009, the National Association of Realtors (NAR) reported Wednesday. Economists had expected a 1.6 percent increase to 5.0 million from March's original report of 4.92 million sales. The median price of an existing single-family home jumped $8,900 in the month to $192,800, the highest since August 2008.

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