Low inventory put a damper on the U.S. housing market last month and will hold down sales this spring, according to National Association of Realtors data cited by NBC News. Fewer buyers signed contracts to purchase existing homes in February; pending home sales nationwide fell 0.4 percent from January — still up 8.4 percent from February 2012. In the Northeast, pending home sales fell 2.5 percent and 0.3 percent in the South, but rose 0.4 percent in the Midwest and 0.1 percent in the West. [more]
Posts Tagged ‘pending home sales’
The total number of single-family home and condominium listings that pended in Miami last month represented a 10 percent increase compared to May 2011, according to data from the Miami Association of Realtors. There were a total of 3,851 listings that pended last month, up from 3,508. [more]
Florida’s pending home sales and median home prices rose against a dwindling inventory in May, according to data released today by Florida Realtors. Pending sales in May were up 43.1 percent for existing single-family homes and increased 33.4 percent for townhome-condo properties, year-over-year. Pending sales refer to contracts that are signed but have not yet been completed or closed 30 to 90 days after a sales contract was written. [more]
Pending home sales rose strongly nationwide in October, increasing by 9.2 percent year-over-year, according to the October pending home sales report from the National Association of Realtors, released today.
The Pending Home Sales Index, which measures signed real estate contracts for existing single-family homes, condominium and co-op units, rose to 93.3 in October from 84.5 in September. In October 2010, the index was 85.5.
The Pending Home Sales Index in the South surged 8.6 percent to 99.5 in October and was 9.7 percent above October 2010’s index. An index of 100 equals contract activity from 2001. – Guelda Voien [more]
Miami-Dade County followed the national trend in September, as pending home sales increased 11 percent from over a year ago to 11,296 but fell 5 percent from August, according to reports released today by the National Association of Realtors and the Miami Association of Realtors.
Nationally, the pending sales index decreased 4.6 percent month-over-month, but gained 6.4 percent from a year ago.
Meanwhile, pending sales in Broward County reached 7,693 in September, 0.3 percent below September 2010 levels and 3 percent below August’s number. – Adam Fusfeld [more]
Pending home sales slipped in August throughout the country, but were higher than a year ago, according to the National Association of Realtors data released today.
Nationally, the Pending Home Sales Index declined 1.2 percent to 88.6 in August from 89.7 in July but is 7.7 percent above August 2010 when it stood at 82.3. The data reflects contracts, but not closings.
Lawrence Yun, NAR’s chief economist, said the nationwide drop reflects an uneven market.
“The biggest monthly decline was in the Northeast, which was significantly disrupted by Hurricane Irene in the closing weekend of August,” he said. “But broadly speaking, contract signing activity has been holding in a narrow range for many months.” -- Miranda Neubauer [more]
Pending home sales declined 1.3 percent in July, but were still well above year-ago levels, according to data released today from the National Association of Realtors.
The Pending Home Sales Index slipped to 89.7 in July from 90.9 in June, but was 14.4 percent above the 78.4 index in July 2010.
The sales index in the Northeast declined 2 percent to 67.5 in July month-over-month, but was 9.7 percent above July 2010’s level, while pending home sales in the South fell 4.8 percent to an index of 94.4. Pending home sales in the south were 9.5 percent higher than they were July 2010. – Miranda Neubauer [more]
Pending home sales nationwide increased by 2.4 percent month-over-month in June, following a fall in April and then an uptick in May, according to a report from the National Association of Realtors released today.
The Pending Home Sales Index rose to 90.9 in June from 88.8 in May and it is 19.8 percent above the 75.9 reading in June 2010, the low point immediately after the expiration of the federal homebuyer tax credit.
Pending home sales in the South increased 4.4 percent to an Index of 99.2 and are 19.1 percent higher than June 2010, while in the Northeast, the Index slipped 0.4 percent to 68.9 in but is still 19.4 percent higher than last year. – Katherine Clarke [more]
Pending home sales rose 18 percent in Miami-Dade County over the course of the past month, to 11,544, compared to the same period one year ago, when there were 9,751 pending sales, according to new data released today by the Miami Association of Realtors. Pending home sales, which include single-family home and condominium unit sales, were also up 3.24 percent month-over-month in March, the figures show. The condo market outpaced the market for single-family homes, with the former rising 25 percent year-over-year and 4.1 percent month-over-month, and the latter up 10.1 percent year-over-year and 2 percent month-over-month in the county. “Increased pending sales reflect the existence of pent-up demand and should result in strengthening home values as distressed housing inventory continues to be absorbed,” said Jack Levine, chairman of the board of Miami Realtors. TRD
Pending U.S. home sales declined 2.8 percent based on contracts signed in January, according to the National Association of Realtors’ Pending Home Sales Index, a forward-looking indicator. The index is 1.5 percent below last month, when a tax credit stimulus was in place. “The housing market is healing with sales fluctuating at times, depending on the flow of distressed properties coming on the market,” said Lawrence Yun, NAR’s chief economist. “While homebuyers over the past two years have been exceptionally successful with historically low default rates, there is still an elevated level of shadow inventory of distressed homes from past lending mistakes that need to go through the system.” TRD [more]