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Pending Home Sales Up

Pending Home Sales Up in March




Pending Home SalesPending home sales increased slightly in March for the second consecutive month and reached their highest level in almost a year, according to the National Association of Realtors®. Only the West region saw a decline in contract activity last month.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, climbed 1.4 percent to 110.5 in March from an downwardly revised 109.0 in February and is now 1.4 percent above March 2015. After last month’s slight gain, the index has increased year-over-year for 19 consecutive months and is at its highest reading since May 2015.

Lawrence Yun, NAR chief economist, says last month’s pending sales increase signals a solid beginning to the spring buying season. “Despite supply deficiencies in plenty of areas, contract activity was fairly strong in a majority of markets in March,” he said. “This spring’s surprisingly low mortgage rates are easing some of the affordability pressures potential buyers are experiencing and are taking away some of the sting from home prices that are still rising too fast and above wage growth.”

For more information, view Pending Home Sales Maintain Momentum in March

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National Home Prices Continue Their Rise




Data released for the S&P/Case-Shiller Home Price Indices for February 2016 shows that home prices continued their rise across the country over the last 12 months.
The S&P/Case-Shiller U.S. National […] Continue Reading…

New Home Sales Down

New Home Sales Down in March




Sales of new single-family houses in March 2016 were at a seasonally adjusted annual rate of 511,000, according to estimates released jointly by the U.S. Census Bureau and the […] Continue Reading…

Existing Home Sales Up

Existing-Home Sales On the Up Swing




Existing-home sales bounced back in March and remained slightly up from a year ago, according to the National Association of Realtors®.
Total existing-home sales, which are completed transactions that include […] Continue Reading…

Housing Starts Down

Housing Starts Down in March




The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for March 2016.
BUILDING PERMITS
Privately-owned housing units authorized by building […] Continue Reading…