Existing home sales data: A bad sign for housing market?

Housing Wire

According to the National Association of Realtors, existing home sales for April’s housing market came in at 5,8500,000. This was a miss from estimates and the third straight month of declines in sales. This sales trend looks very normal to me.

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2021 housing market forecast: What will fuel home sales?

Housing Wire

We already saw much of this movement in 2020, as home sales surged over 20% this fall, but many homeowners were nervous about listing during the pandemic and will be ready to sell in droves next year. This will send home sales to highs not seen since before the Great Recession of 2008.

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Home sale prices reach record highs — again

Housing Wire

The effects of low housing inventory continue to cause significant ripples in the housing market, as a recent Redfin report shows home sale prices across the country have reached an average of $344,625 — an all-time high, and an 18% increase year over year.

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New home sales battled scorching prices in April

Housing Wire

Adjusting to seasonal effects, MBA estimates that new home sales in April rebounded from a two-month slump, increasing 8 percent to an annualized pace of 770,000 units,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

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New home sales juggernaut continues

Housing Wire

Sales of new homes rose to an annualized rate of 999,000 in October – 0.3% With October’s data in, new home sales have had the strongest three-month stretch since mid-2006, with each month falling just short of 1 million. months at the current sales rate.

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Existing home sales are still too hot

Housing Wire

The National Association of Realtors reported that existing home sales for January were at 6,669,000, which beat estimates. The median sales price also jumped 14.1% We should all be jumping for joy as the bond market shows the American bears that America is back.

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Existing home sales fall for third month in April

Housing Wire

April’s existing home sales painted a familiar picture of a market still grappling with low supply as sales dropped for the third month in a row, down 2.7% “Last month, existing home sales recorded their best bottom line in any April since 2006,” Speakman said.

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Pending home sales rebound in March

Housing Wire

The National Association of Realtors released encouraging news Thursday about the future of the housing market. The trade group reported that pending home sales – that is homes where a buyer signed a contract, but the sale has not closed – rose 1.9 % index points to 111.3

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New home sales plunge 18.2%, but demand stays strong

Housing Wire

After a near decade high in January, new home sales for single-family houses plummeted 18.2% However, continued demand by homebuyers did manage to push new home sales 8.2% As for the West, new sales dropped 9.3% months at the current sales rate.

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Low inventory stifles April’s pending home sales

Housing Wire

Like new and existing sales, pending home sales felt the strain of exhausted home inventory in April ? Against a pandemic landscape from last April, however, pending home sales signings are 51.7% The upper-end market is still moving sharply as inventory is more plentiful there.”.

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Is housing market demand starting to weaken?

Housing Wire

Nearly 50% of homes sold for more than their list price during the four weeks ending May 16, but there are signs that housing market demand may be reaching its peak, according to a recent study from Redfin. Homes in May are also on the market for an average of only 17 days.

Existing home sales data: Look at year-over-year growth

Housing Wire

According to The National Association of Realtors, February’s existing home sales missed estimates , coming in at 6.2 Because February 2020 sales were strong, the year-over-year growth in sales for February 2021 is impressive at 9.1%.

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Why new home sales are finally moderating

Housing Wire

But, we hadn’t seen that moderation in any meaningful way until today’s new home sales data. The new home sales marketplace has been showing abnormally fast growth for the last several months. Exponential growth in any housing market data will eventually moderate.

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Pending home sales continue to slip as 2021 approaches

Housing Wire

pending home sales slid for the third consecutive month in November, dropping 2.6% “It is important to keep in mind that the current sales and prices are far stronger than a year ago.” New home sales and existing home sales both also ticked down last month.

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The best new home sales report ever

Housing Wire

Only then would we see enough demand from the new home sales market to warrant that much construction. This hasn’t happened yet, but the recent hew home sales report indicates we are getting there. months at the current sales rate.” Now, new home sales are 41.5%

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Building material prices take their toll on new home sales

Housing Wire

Record-high building material prices and a continued lack of labor brought down new home sales in April to a seasonally adjusted annual rate of 863,000 ? April’s new home sales are nearly double that of April 2020’s estimate of 582,000. months at the current sales rate.

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Existing home sales surge 9.4% in September

Housing Wire

Sales of existing homes took off in September, jumping 9.4% Compared to a year ago, sales are up 20.9%. Unsold inventory measured as a “months supply” number that gauges how long it would take to sell all the homes if nothing else came on the market, was 2.7

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Sales of luxury homes skyrocket in first quarter

Housing Wire

Sales of luxury homes rose 41.6% year-over-year in the first quarter of 2021, crushing sales of affordable homes (7% increase) and mid-priced homes (5.9%), per a recent report from Redfin. When looking at the largest markets in the U.S.,

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Wow — 6 million existing home sales! However, context is key with 2020 housing market data

Housing Wire

housing market and compare those to where we are today — in the middle of one of the most epic years in our country’s history, due to COVID-19. No doubt about it, the COVID crisis has taken some juice out of the 2020 housing market. million total home sales by the end of the year.

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Experts optimistic about home sales in 2021

Housing Wire

pending home sales dipped to the tune of 0.3% Realtor.com’s Housing Market Recovery Index showed significant contract growth, specifically in Portland, Las Vegas, Denver, Los Angeles, and Boston. With rates remaining low, existing-homes sales are likely to reach 6.49

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These were March’s hottest housing markets

Housing Wire

In modern history, the housing market has never seen a month like March. Record demand and the lowest levels of inventory on record pushed sales prices to record highs in March and made life very complicated for buyers, real estate agents, builders and lenders across the United States.

Insatiable demand drives July pending home sales up 15% annually

Housing Wire

pending home sales rose 5.9% We are witnessing a true V-shaped sales recovery as homebuyers continue their strong return to the housing market,” said Yun. All four regions of the country also saw month-over-month and year-over-year gains in pending home sales.

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Even with high lumber prices, new home sales beat

Housing Wire

Extreme increases in lumber prices have caused some people to go bearish on new home sales. Mortgage rates have a much more significant influence on the new home sales market than lumber prices, even at their current highs.

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Don’t expect home sales to slow down in 2021

Housing Wire

From facing uncertainty in March from COVID-19-related shutdowns, to seeing home sales skyrocket through the summer into fall, it looks like homebuyers won’t be slowing down anytime soon, despite the holiday season approaching. Real estate agents across the U.S.

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How homebuilders are competing in this crazy market

Housing Wire

New home sales in 2021 picked up right where they left off in 2020, near their highest levels in more than a decade thanks to low inventory. The state of the market means increased competition among homebuilders, who are grappling with how to keep prices affordable as their own costs rise.

Condo sales rebound as buyers snatch up deals

Housing Wire

A new report from Redfin revealed that condo sales rose 22.7% Single-family home sales grew 23.3% Condos sales are rebounding because buyers are finding great deals,” said Redfin’s Chief Economist Daryl Fairweather. year over year, while condo sale prices rose 9.9%.

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Rising home prices take a toll on pending home sales

Housing Wire

pending home sales fell 1.1% in October – the second consecutive month the index has fallen as affordability strains the market, a recent report from the National Association of Realtors said. Year over year, pending sales are showing promise in every region of the U.S,

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Pending home sales drop, but there’s a silver lining

Housing Wire

pending home sales dipped – this time, down 2.8% Despite the decline, many industry observers see big potential for the housing market in the year ahead. It’s no secret that low mortgage rates and societal shifts brought on by COVID-19 have collided to form a red-hot housing market. Pending home sales fell in January because there are simply not enough homes to match the demand on the market,” said Lawrence Yun, NAR chief economist.

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New home sales trigger concern over lumber prices

Housing Wire

Today the Census Bureau reported 863,000 new home sales in April 2021. From Census : “Sales of new single?family The difference in the two reports is not surprising; new home sales tend to fluctuate wildly month to month on both the positive and the negative.

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Existing home sales dip 6.6% amid supply struggles

Housing Wire

Rising home prices, limited inventory and the uptick in mortgage rates continued to deter some homebuyers last month as sales of existing homes fell 6.6% In the last few years, the number of existing single-family homes for sale has decreased. higher existing home sales than a year ago.

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Existing home sales end five-month streak increase in November

Housing Wire

Existing home sales decreased 2.5% Compared to last November, home sales are still up 25.8%. Home sales in November took a marginal step back, but sales for all of 2020 are already on pace to surpass last year’s levels,” said Lawrence Yun, NAR’s chief economist.

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Existing home sales fall due to lack of housing inventory

Housing Wire

For the second consecutive month, existing-home sales fell, according to the latest National Association of Realtors report. regions experienced month-over-month drops, and all four areas saw year-over-year gains in home sales. Sales in March overall climbed year-over-year, up 12.3%

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New home sales fall due to low inventory and high prices

Housing Wire

the second consecutive month sales of new homes have dropped, according to data released Thursday by the Mortgage Bankers Association. Overall, the MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 741,000 units in May 2021.

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Average home sale price hits all-time record

Housing Wire

The median home sale price increased 16% year-over-year to $331,590 – an all-time high, per a report this week from Redfin. And between March 14 and March 21, 61% of homes sold in that timeframe had been on the market two weeks or less, and 48% had sold in one week or less.

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New home sales hot but not bubbly

Housing Wire

The recent new home sales data is at levels last seen in 2006, with monthly supply data back down to the low levels when new home sales data was really good. No, this is not a new home sales housing bubble as we are far from total new home sales being where they were in 2005.

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Why you shouldn’t worry about the drop in new home sales

Housing Wire

Today the Census Bureau reported that in February 2021, new single-family home sales were at a seasonally adjusted annual rate of 775,000. Although sales were up 716,000 compared to sales in February 2020, they were 18.2% (±13.9%) below the revised sales in January 2021 of 948,000.

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Should government help create housing market supply?

Housing Wire

In 2021, we already have the unhealthiest housing market — in terms of low housing market supply and multiple bids for each sale — than we have had in the last 10 years. The post Should government help create housing market supply?

Beware of gloom and doom housing market crash headlines

Housing Wire

I’m talking about housing market crash headlines. These dramatic peaks and valleys in the data have fed the demons of greed and fear that infest the minds our extreme housing bulls and the fierce housing market bears – leading to equally wild speculations about the future of U.S.

Sales of existing homes surge to a 14-year high

Housing Wire

Sales of existing homes rose to a 14-year high of 6 million in August, the National Association of Realtors said in a report on Tuesday. Combined sales of single-family houses, townhomes, condominiums and cooperatively owned apartments rose 2.4%

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What’s next for the overheated housing market?

Housing Wire

According to the National Association of Realtors, March’s existing-home sales came in at 6.01 Because March 2020 sales were slightly weaker due to the start of COVID-19, the year-over-year growth in sales for March 2021 came in at 12.3%.