Sales of existing homes inched up by 0.8% in October to 6.34 million, carrying some of the momentum in September, when sales jumped by a significant 7.0%, according to data released by the National Association of Realtors on Monday. Despite supply constraints and elevated prices, the small increase was in line with pending home sales in August, which ... READ MORE >
housing inventory
CHART OF THE DAY: Mortgage rates resume their downward march
Ten-year U.S. Treasury yields have drifted lower over the past couple of months, bringing mortgage rates to the lowest levels in nearly six months and well below historical levels. The average rate for a 30-year loan was 2.77% on Aug. 5, the lowest since Feb. 11. The historically low borrowing costs, coupled with families' need for more space to work and ... READ MORE >
CHART OF THE DAY: Existing home sales slump but market remains hot
Sales of existing homes decreased 3.7% in March to an annual rate of 6.01 million for the second straight monthly decline, according to data from the National Association of Realtors released Thursday. But the decline was mostly driven by the dearth of inventory in the market, which continues to be below 1 million and came in at 900,000 in ... READ MORE >
CHART OF THE DAY: New home sales cool as inventory remains limited
New single-family home sales dropped 3.5% from August to September as the robust market began to cool heading into the fall months, the Commerce Department reported on Monday. The decline was expected after the heightened pace of sales over the summer, with many urban renters fleeing to the suburban market and existing home inventory at record lows. Even ... READ MORE >
CHART OF THE DAY: As housing market heats up, inventory shrivels
Existing home sales in August topped 6 million for the first time since 2006 as big-city renters continued to flock to the suburbs for more space, including a home office and a yard to accommodate their new normal. Meanwhile, existing homeowners are hesitant to put their houses on the market, given uncertainty around the coronavirus pandemic and fears ... READ MORE >
What’s behind the resurgent housing market
With the onset of the coronavirus, a wave of uncertainty overtook the housing market and brought a swift halt to home sales and home building in March and April. But trends in May and June have shown that housing may be in the midst of a V-shaped recovery. After falling for three straight months, both housing starts and building permits rose in May to ... READ MORE >