Tag Archives: Existing Home Sales

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the May edition of the Obama Administration's Housing Scorecard on Friday. The government report showed progress, noting growth in key indicators such as increasing equity and a rebound in the sale of new and existing homes.

The National Association of Realtors (NAR) recorded a 0.4 percent gain in its Pending Home Sales Index (PHSI) for April, bringing it up to 97.8. A measure of contract signings, the index serves as a forward-looking indicator for future sales activity.

For the first time this year, existing-home sales and total inventory increased in April, while home price growth moderated. According to the National Association of Realtors (NAR), total existing-home sales, which the group defines as single-family homes, townhomes, condominiums, and co-ops, rose 1.3 percent to a seasonally adjusted annual rate of 4.65 million in April 2014.

In its latest economic forecast, released Wednesday, Fannie Mae reported that housing remains the weakest link in the national economy. Through the first three months of 2014, existing-home sales, new single-family home sales, single-family housing starts, and multifamily housing starts all declined year-over-year.

The U.S. Department of Housing and Urban Development (HUD) released its April 2014 Housing Scorecard, noting that home prices remained stable, foreclosure completions continued to their lowest levels since mid-2007, existing home sales stabilized, new home sales slowed, and the administration's foreclosure mitigation efforts continued to provide relief for troubled homeowners.

Total existing-home sales in March came in at a seasonally adjusted annual rate of 4.59 million, according to estimates from the National Association of Realtors. March sales fell .2 percent from February’s downwardly revised pace of 4.60 million and hit a nearly two-year low. Compared to March 2013, the sales rate was down 7.5 percent.

A new report by the National Association of Realtors (NAR) attributes a slumping January for home sales to a myriad of factors. Some of the culprits to blame include freezing weather, tight credit, limited inventory, higher prices, and higher mortgage interest rates. According to NAR, last month's sales activity was the slowest since July 2012, when transactions stood at a rate of 4.59 million.

New housing data released by Florida Realtors shows a positive 2013 for closed and pending sales. The closed sales for existing single-family homes totaled 227,411, up 11.8 percent from 2012. Pending sales figures were also positive, up 17.6 percent compared to 2012.

Pending home sales fell in December to their lowest level since October 2011, according to numbers tracked by the National Association of Realtors. NAR chief economist Lawrence Yun said there were several factors at play in last month’s falloff in contracts—not the least of which was onset of harsh winter storms.

Total existing-home sales--including all completed transactions of single-family homes, townhomes, condominiums, and co-ops--increased 1.0 percent month-over-month to a seasonally adjusted annualized rate of 4.87 million last month, according to the National Association of Realtors (NAR). November's sales rate was revised down to 4.82 million. Even with prices and mortgage rates slated to rise, NAR president Steve Brown says sales should hold strong in 2014 as job numbers improve. That doesn't mean the year won't be without challenges, though.