The sales pace in the final three months of 2016 pushed available housing supply to record lows and caused price appreciation to slightly speed up.
Industry News Sticky
- 6 min 1 sec ago
Pending home sales picked up in December as solid increases in the South and West offset weakening activity in the Northeast and Midwest.
2016 existing-home sales were the best in a decade, even as sales declined in December due to high prices and historically low supply levels.
Pending home sales fell to their lowest levels in nearly a year as the brisk rise in mortgage rates and low inventory discouraged would-be buyers.
A big surge in the Northeast and a smaller gain in the South pushed existing-home sales up in November for the third consecutive month.
Bolstered by big gains in the Northeast and Midwest, existing-home sales bounced back in March and remained slightly up from a year ago.
Pending home sales rose solidly in February to their highest level in seven months, and remain higher than a year ago.
After increasing to the highest annual rate in six months, existing-home sales tumbled in February amidst unshakably low supply levels and steadfast price growth in several sections of the country.
Pending home sales declined at the beginning of 2016 but remained slightly higher than a year ago.
Existing-home sales crept up to the highest annual rate in six months, and low inventory caused the fastest increase in prices since last April.
Moderating pace of sales had little impact on the trajectory of home prices during the final three months of 2015.
Pending home sales rose slightly in December, with a large increase in the Northeast that outpaced declines in the other three regions of the U.S.
Led by the South and West, all four major regions saw large increases in December existing-home sales.
Pending home sales slightly declined for the third time in four months as buyers battle rising home prices and limited homes available for sale.
Existing-home sales dropped to the slowest pace in 19 months. Some of the decrease possibly because of an apparent rise in closing timeframes.
Pending home sales were mostly unchanged in October, but shifted marginally higher after two straight months of declines.
Existing-home sales in October were at a healthy pace but failed to keep up with September’s jump in sales.
Third quarter existing-home sales growth and inventory shortages kept home prices rising in most of the country, with price appreciation slowing.
Pending home sales cooled in September for the second straight month and to their second lowest index reading in 2015.
Existing-home sales rebounded strongly in September following August’s decline and have now increased year-over-year for 12 consecutive months.