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 278

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 284
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

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 279

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 279

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 249

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. months at the current sales rate.”

Sales 279

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 285

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 281

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 282

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 272

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 237

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 266

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 279

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 279

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 267

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 257

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.

Sales 212

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 285

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 242

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 281

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.

Sales 263

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 242

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 260

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.

Sales 280

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 285

A quick sale or a better sale

REM Online

The original post can be found at the following URL: A quick sale or a better sale. The original post can be found at the following URL: A quick sale or a better sale. Featured Ross Wilson a quick sale or a better sale cleanliness curb appeal showings

Sales 103

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 285

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,

Sales 226

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 285

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%

Sales 276

Knock launches new sale-leaseback solution, Knock Nest

Housing Wire

Real estate technology company Knock has announced the launch of Knock Nest, a standalone sale-leaseback solution that allows homeowners to access the cash they’ve built up in their home while continuing to live in it.

Sales 226

Significant Sales | February 2021

Sotheby's International Real Estate

From the sale of a sprawling ranch in Texas to that of the highest priced island sale in the Florida Keys and more, here are five Significant Sales from February 2021 represented by the Sotheby’s International Realty® global network.

Sales 87

Existing home sales increase for the fifth month in a row

Housing Wire

Existing home sales grew for the fifth consecutive month in October, up 4.3% Compared to last October, sales are up 26.6%. “The surge in sales in recent months has now offset the spring market losses,” NAR Chief Economist Lawrence Yun said.

Sales 285

Holy smokes — new home sales are up 32.1% year over year

Housing Wire

The one economic sector that has blown away my estimates this year has been the new home sales market. Today new home sales are up 32.1% The median sales price of new houses sold in September 2020 was $326,800. The average sales price was $405,400.

Sales 285

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

Housing Wire

If the February trend continued, total existing home sales would have been higher: we probably would have ended the year with sales between 5,7100,000 and 5,8400,000, a noticeable jump from last year’s number of roughly 5.3 million total home sales by the end of the year.

Sales 284