This was the fourth week in a row of declines, leaving prospective buyers hopeful for sustained low rates throughout spring homebuying season.
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Category: Lawrence Yun
Optimism for spring selling season grows with third monthly rise in pending sales
The National Association of REALTORS® Pending Home Sales Index rose for the third month in a row, suggesting the housing market’s contraction could be “coming to an end.”
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NAR: Existing-home sales jump in February, ending a year of declines
The annual rate of 4.58 million sales was up 14.5% from January but down 22.6% from the February 2022 rate of 5.92 million.
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NAR: Pending-home sales jump in January
The 8.1% month-over-month increase in the National Association of REALTORS® Pending Home Sales Index was the largest gain since June 2020.
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NAR: Existing-home sales post 12th monthly decline in January, as prices rise again
The 30-year fixed-rate mortgage averaged 6.32% as of Feb. 16, up from 6.12% a week before and 3.92% a year earlier.
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NAR: Existing-home sales dip 1.5% in December
House prices, however, continued to rise, marking the 130th consecutive month for price gains, the longest streak on record, the National Association of REALTORS® said.
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NAR Chief Economist Lawrence Yun on the state of the market
Downward-trending mortgage rates and a strong job market will bring homebuyers back to the table, according to NAR Chief Economist Lawrence Yun.
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NAR: Pending-home sales slide for sixth month in a row in November
Regionally, the pending-sales index fell 7.9% month over month in the Northeast, 6.6% in the Midwest, 2.3% in the South and 0.9% in the West.
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NAR: Existing-home sales fall 7.7% in November
The month-over-month decline in sales came as prices rose for the 129th consecutive month, the National Association of REALTORS® said.
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NAR names Atlanta the top real estate market to watch in 2023
NAR’s other predictions for 2023 include a 5.7% mortgage rate.
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