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.

Sales 383

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% The last report on new home sales shows that housing data moderates and moves back to the trend.

Sales 417
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Millennials are driving US home sales

Housing Wire

Existing home sales rose for the second consecutive month , as January saw a seasonally-adjusted annual rate of 6.69 Sales easily could have been even 20% higher if there had been more inventory and more choices,” Yun said. Yun predicts existing-home sales will reach at least 6.5

Sales 427

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.

Sales 418

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.

Sales 426

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.

Sales 386

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% Regionally, pending home sales dropped month over month in all U.S.

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Pending home sales rebound in March

Housing Wire

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 By coincidence,” the NAR explained, “The volume of existing homes sales in 2001 fell within the range of 5 to 5.5

Sales 357

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% This elevated level of competition may be starting to wear on buyers’ confidence and could be holding back sales volumes.

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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.

Sales 419

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. the biggest increase in luxury-home sales in the first quarter was Miami, with sales up 101.1%

Sales 400

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%.

Sales 385

Experts optimistic about home sales in 2021

Housing Wire

pending home sales dipped to the tune of 0.3% “Greater participation of sellers and builders in the months ahead will make home sales possible while easing some of the pressure on price growth, which is currently rising at a double-digit percent rate and has been for almost six months.”

Sales 420

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.

Sales 422

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.

Sales 241

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%

Sales 424

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%

Sales 376

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.

Sales 397

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. The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, increased to 100.2%.

Sales 428

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.

Sales 419

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%. The primary constraint to even more sales is the plummeting inventory of homes on the market, which is leading to bidding wars and spikes in home prices across the country.

Sales 419

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.

Sales 408

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%.

Sales 383

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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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.

Sales 428

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.

Sales 354

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

Housing Wire

pending home sales dipped – this time, down 2.8% 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. In the last few years, the number of existing single-family homes for sale has decreased. And even with another month-to-month drop, pending home sales were 13% higher in January 2021 than they were in January 2020.

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Rising home prices take a toll on pending home sales

Housing Wire

pending home sales fell 1.1% Year over year, pending sales are showing promise in every region of the U.S, As talk of an urban exodus continues, the Northeast’s pending home sales slid 5.9% months at the current sales rates as builders attempt to keep up.

Sales 422

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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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.

Sales 400

Pending home sales at an all-time high! Now what?

Housing Wire

Riddle me this: How can home sales grow when we have no homes to buy? When a monthly home sales print fails to meet expectations the excuse often used is that inventory is too low to meet the demand. We are steadily working our way toward a positive year for existing home sales.

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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%

Sales 428

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.

Sales 387

Keller Williams hails 16% jump in sales volume

Housing Wire

million home sales in the U.S. Keller Williams also claimed $407 billion in 2020 sales volume in Canada and the U.S., onset in March only to surge to its highest sale volume since the mid-2000s.

Sales 358

2020 home sales hit highest level since 2006

Housing Wire

Existing home sales rose in December, and total home sales in 2020 reached the highest level in 13 years, according to the National Association of Realtors. Sales also rose 0.7% Experts project low mortgage rates to continue driving home sales in 2021.

Sales 358

South poised to see $1 trillion in home sales in 2021

Housing Wire

Even with historically low levels of inventory, rising mortgage rates and uneven job growth, experts still believe 2021 will be a record year for home sales. Officials are predicting sale numbers to easily eclipse $1 trillion by years end.

Sales 358

Existing home sales are still too hot

Housing Wire

In recent articles, I have written that although current sales data for the U.S. Growth in home sales in recent months, I proposed, was primarily due to the catch-up demand from the stalled sales during the worst weeks of COVID-19. Sales in total rose year-over-year, up 25.8%

Sales 428

Are existing home sales showing a housing bubble?

Housing Wire

Today, existing home sales blew out estimates , coming in at 5,860,000. With new home sales, pending home sales, housing starts, housing permits, and purchase applications already in v-shape recovery mode, this last metric completes the v-shaped recovery across the board for housing.

Sales 428

New home sales begin to cool in November

Housing Wire

Sales of newly built homes occurred at a seasonally-adjusted annual rate of 841,000 in November – 11% below October’s 945,000 revised rate , the Census Bureau reported on Wednesday. “Prior to the data revision, the month’s supply of homes for sale at the current pace was only 3.3,

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Sales of higher-priced properties drive California median home price to new high in July

Housing Wire

For the first time since February, July’s existing single-family home sales totaled 437,890 in July, up 28.8% Homes prices below $500,000 made up 40% of all sales in July, while sales of million-dollar properties were 20.4%

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