Declining Demand and Limited Supply Drive Prices Up In December, home sales reached their lowest level in over a decade due to the ongoing imbalance between demand and supply. This resulted in a surge in prices, bringing the year to a close on a high note. Sales Activity Hits Rock Bottom Sales activity in December hit its lowest point since August 2010. The National Association … [Read more...] about Home Sales Reach Lowest Level in a Decade
Home Sales
Home Sales Set to End Summer Season on a Muted Note
As the summer season draws to a close, home sales are expected to remain sluggish due to high mortgage rates. However, the new home market and home builder stocks show promise for the future. Recent data indicates a lackluster housing market leading into the fall. In July, existing-home sales reached a seasonally-adjusted annual rate of 4.07 million, the lowest reading since … [Read more...] about Home Sales Set to End Summer Season on a Muted Note
US Home Sales Fall to Four-Month Low as Prices Continue to Increase
Source: US Census Bureau US home sales declined for the third straight month in March to hit the lowest level in four months, as prices continued to grow during the period. XHB is down 1.87%, while ITB is down 0.90%. New houses sold in March stood at 763,000, down by 8.6% from 835,000 in February and 12.6% lower than March 2021’s 873,000.The latest reading is the lowest … [Read more...] about US Home Sales Fall to Four-Month Low as Prices Continue to Increase
US Existing-Home Sales Drops for Second Consecutive Month
Source: National Association of Realtors Existing-home sales in the United States slipped for the second straight month in March due to higher mortgage rates and the inflationary uptick during the period. XHB is up 0.66%, while ITB is up 0.60%. Seasonally adjusted sales for the month stood at 5.77 million in March, down 2.7% from February and 4.5% from 6.04 million in the … [Read more...] about US Existing-Home Sales Drops for Second Consecutive Month
U.S. Recorded 0.3% Drop in Pending Home Sales in December
Pending home sales index in the U.S slipped 0.3% in December to 125.5, according to the National Association of Realtors press release. NAR attributes the drop in pending home sales to having too few homes for sale. Contract signings rose 21.4% year over year.NAR chief economist Lawrence Yun believes there is a high demand for housing and many would-be buyers, and … [Read more...] about U.S. Recorded 0.3% Drop in Pending Home Sales in December
