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Pending home sales bounce back in June: NAR

Housing Wire

After plummeting to an all-time low in May , pending home sales bounced back a bit in June, with the Pending Home Sales Index rising 4.8%, according to data released Wednesday by the National Association of Realtors (NAR). Month over month, however, pending sales rose in all four regions. The index rose from a reading of 70.8

Sales 468
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Existing-home sales grew in November after months of declines

Housing Wire

Sales of existing-homes inched up in November, breaking a streak of five consecutive monthly declines. While sales are still tracking below last year’s levels, the gap between 2022 and 2023 has narrowed considerably. Existing-home sales grew 0.8% in November from the prior month , reaching a seasonally adjusted annual rate of 3.82

Sales 456
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Existing-home sales moved lower in August : NAR

Housing Wire

In August, existing-home sales fell 0.7% from July to a seasonally adjusted annual rate of 4.04 Existing-home sales were down 15.3% Despite a sharp drop in home sales compared to August 2022, the median existing-home sales price rose 3.9% Regionally, the Midwest registered the most home sales. All four U.S.

Sales 467
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Pending home sales jump again in January, but don’t get too excited

Housing Wire

January’s pending home sales picked up right where they left off in 2022, posting the second consecutive month of increases, according to data released Monday by the National Association of Realtors (NAR). month-over-month increase in December , the Pending Home Sales Index rose 8.1% After posting a 2.5% compared to a year ago.

Sales 459
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Mortgage rates decline after Fed pauses hikes once more

Housing Wire

Mortgage rates continued their downward plunge this week as inflation keeps decelerating. The 30-year fixed-rate mortgage averaged 6.63% as of Feb. 1, a decrease from last week’s figure of 6.69%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgages 486
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Just 4.09 million existing homes were sold in 2023

Housing Wire

Existing home sales dropped to their lowest level in nearly 30 years in 2023, according to a report from the National Association of Realtors (NAR), released Friday. Slow home sales in 2023 were accompanied by higher mortgage rates , with the average rate on a 30-year fixed rate mortgage hitting a 23-year high in early November.

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Housing market “stuck” as mortgage rates remain above 7%

Housing Wire

Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.12% as of Sept. By contrast, the 30-year fixed-rate mortgage was at 5.89% a year ago at this time. 7, down from last week ’s 7.18%.

Mortgages 475