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Employment gains could help housing inventory

Housing Wire

Sectors that were hit hardest by the pandemic led job growth last month, with jumps in leisure, hospitality, public and private education and construction – good signs for the housing industry. For housing, March gained 110,000 jobs in construction – a positive sign in an industry struggling with supply constraints. Labor Department.

Inventory 514
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Pending home sales fall to their lowest level in two decades

Housing Wire

Pending home sales in October fell to their lowest level since 2001. Meanwhile, new home sales posted a better performance as homebuyers pivoted to new construction amid waning existing home supply. As mortgage rates edged near multi-decade highs, pending home sales declined 1.5% down from 72.6 in September. New home sales fell 5.6%

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Pending home sales surged in December: NAR

Housing Wire

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. The trade group also predicts that rent growth will ease due to sizable growth in apartment construction over the past three years. NAR’s Pending Home Sales Index (PHSI) increased to 77.3 in December, up from 71.6 in November. year over year.

Contracts 482
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Home prices are still rising, but relief for buyers is coming

Housing Wire

Home prices continue to increase as national inventory levels remain low heading into August. growth is the largest annual growth reported since 1979, as supply and demand pressures endure and construction costs continue to rise, said Frank Nothaft, CoreLogic’s chief economist. . Home prices increased 2.3% ” The 17.2%

Buyers 514
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Pending home sales fall 5.2% in March

Housing Wire

An index of 100 is equal to the level of contract activity in 2001. The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. In the new construction sector , NAR predicts sales to increase 4.5% year over year. year over year to 4.56 million for all of 2023.

Inventory 459
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Pending home sales fell 2.7% in May though demand remains strong

Housing Wire

An index of 100 is equal to the level of contract activity in 2001. The lack of housing inventory continues to prevent housing demand from being fully realized.” Yun, however, is optimistic about the impact increased housing starts and homebuilder confidence will eventually have on housing inventory. “It

Contracts 370
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Pending Home Sales Climb to Highest Level Since March

Appraisal Buzz

The amount of contract activity in 2001 is represented by an index of 100. Contract signings rose across all regions of the country as buyers took advantage of the combination of lower mortgage rates in late summer and more inventory choices,” said Lawrence Yun, Chief Economist for NAR. September saw a 7.4% year-over-year.

Contracts 418