Tag Archives: Hannah Jones

A new report from the National Association of Realtors shows pending home sales numbers improving on a monthly basis for the first time in six months. Click through to read Chief Economist Lawrence Yun’s thoughts on the matter.

After experiencing a near 5% monthly drop in pending October sales, NAR reported the near-20-year high in mortgage rates and expensive home prices forced many prospective buyers to the sidelines.

“While the price of buying a home climbed through the third quarter, would-be buyers pivoted towards renting and other housing arrangements,” said Realtor.com Economic Data Analyst Hannah Jones.

With residential construction continuing to slow, the Fed’s rate hike of last week and its ripple effect on mortgage rates may push housing starts down for months to come.

As more than 45 million millennials enter the prime first-time buying ages of 26-35, the year 2022 will present several opportunities, despite expected a rise in rates and a recovering inventory.