Tag Archives: Hannah Jones

Including pending home sales numbers, the National Association of Realtors also updated its annual economic forecasts for 2023 and 2024. Click through to find out how much pending home sales numbers changed from last year and to view the NAR’s economic forecast.

"It's clear that increased housing inventory and better interest rates are essential to revive the housing market," said NAR Chief Economist Yun. Click through for more on NAR’s August Pending Home Sales report.

The newest S&P Dow Jones Indices (S&P DJI) S&P CoreLogic Case-Shiller Indices, which is the one of the most highly regarded measures of U.S. home prices, for June 2023 has revealed that all of the top-20 markets reported monthly price increases, the fourth such consecutive month of rising prices.

The Latest S&P CoreLogic Case-Shiller Index found that the national index posted a 1.3% increase in March 2023 over the previous month.

“2023 began as 2022 had ended, with U.S. home prices falling for the seventh consecutive month,” says Craig J. Lazzara, Managing Director at S&P DJI.

“Home prices fell in February, the first year-over-year decline in the national median home price in more than two decades,” said Bright MLS Chief Economist Dr. Lisa Sturtevant.

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.