Contract signings climbed month over month despite elevated mortgage rates
Even with more inventory entering the market, homebuyers are struggling with elevated mortgage rates, NAR Chief Economist Lawrence Yun said, leading to fewer signed contracts
After moving in the wrong direction for 3 months, annual inflation cooled to 2.5% in January. But the biggest drop in consumer spending since 2021 has 1 model predicting a shrinking economy
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The Pending Home Sales Index (PHSI), which tracks home sales based on contract signings, dropped 4.6% to 70.6 in January, marking an all-time low, according to NAR data
The Pending Home Sales Index (PHSI), which tracks contract signings as a measure of future home sales, fell 5.5% to 74.2 in December, according to data released Thursday by NAR
Driven by an improved housing inventory, pending home sales rose modestly in October, marking its third-consecutive monthly increase, according to data released on Wednesday by NAR
Easing mortgage rates and increased inventory in September undercut buyer anxiety from the previous months, leading to a 7.6 percent month over month increase in contract signings.
Pending home sales edged up 0.6% in August, as declining mortgage rates made home purchases more affordable, according to data released Thursday by the National Association of Realtors
Pending home sales rose 4.8% in June, with all 4 US regions showing monthly gains in contract signings, the National Association of Realtors reported on Wednesday
High mortgage rates continued to curb homebuyer activity in May, NAR said. As inventory rises in upcoming months, slower home price growth will follow, and likely more buyers in the market
Pending home sales declined 7% year over year in February, according to the NAR. However, a slight uptick in monthly inventory and contract signing trends provide hope for a market rebound
Fueled by positive job growth and an increase in available housing, the National Association of Realtors' Pending Home Sales Index rose 1.6% in February, according to data released Thursday
November's numbers show pending sales didn't move compared to October, but lower rates did apparently lead to more lockbox openings — hinting that better days lie ahead
Pending sales fell 1.5% month over month in October to a reading of 71.4, the lowest score recorded since the Pending Home Sales Index began publishing in 2001