2001 Buyers Sellers 
Housing Wire
SEPTEMBER 15, 2023
Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. Rates last month surged to 7.23%—the highest since 2001 – sending the typical homebuyer’s monthly payment up significantly from last year. That rate is up from 14.3% The median U.S. million in August, falling 1.1%
Appraisal Buzz
DECEMBER 30, 2024
Despite higher mortgage rates in November and persistent affordability challengers, buyers took advantage of more inventory as pending home sales reached the highest level in nearly two years, said First American Deputy Chief Economist Odeta Kushi. A PHSI reading of 100 is equal to the level of contract activity in 2001. in November.
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Housing Wire
OCTOBER 28, 2022
An index of 100 is equal to the level of contract activity in 2001. The Federal Reserve has had to drastically raise interest rates to quell inflation, which has resulted in far fewer buyers and even fewer sellers.”. Only when inflation is tamed will mortgage rates retreat and boost home purchasing power for buyers.”.
Housing Wire
JANUARY 3, 2023
An index of 100 is equal to the level of contract activity in 2001. Pending-home sales in November reflect a freeze in the housing market, as buyers remain on the sideline and sellers are staying put,” Odeta Kushi, First American’s deputy chief economist, said in a statement.
Housing Wire
AUGUST 29, 2024
Anything above 100 is considered to have a higher level of activity relative to 2001. ” In addition to the election, there are a number of reasons why buyers might be hesitant to jump back into the market. .” With the Federal Reserve almost certain to cut rates in September, buyers might do well to wait a couple months.
Appraisal Buzz
OCTOBER 30, 2024
The amount of contract activity in 2001 is represented by an index of 100. Jones explained that pending home sales, also known as contract signings, measure the first official stage of a home sale transaction—when a buyer and seller have reached an agreement on terms and price. September saw a 7.4% year-over-year.
Appraisal Buzz
SEPTEMBER 26, 2024
A PHSI reading of 100 is equal to the level of contract activity in 2001. “A Potential August buyers were dealing with the same old story—high prices, low inventory—but had other reasons to hold off, too. It’s also possible that the uncertain atmosphere of the Presidential election is adding to buyers’ hesitation.” a drop of 2.2%
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