The labor market continued to show resilience even as higher interest rates took a further toll on pending home sales. Initial jobless claims inched up by only 2,000 last week to 204,000, remaining below the pre-pandemic average, while pending home sales plunged by 7.1% in August after July's number ... READ MORE >
pending home sales
Pending home sales fall to their lowest level since April 2020
Pending home sales in the United States fell by 2% in August, the third straight monthly decline amid a steep rise in mortgage rates, according to data released Wednesday by the National Association of Realtors. On a year-ago basis, pending sales fell by a whopping 22.6%, continuing to signal more room ... READ MORE >
Core capital goods investments grow while pending home sales fall
Strong durable goods orders and shipments in July showed that businesses continue to make long-term investments despite rising prices and concerns of a recession. Although the top-line number for new orders reported by the Commerce Department on Wednesday remained flat on the month compared to June, ... READ MORE >
Chart of the day: Pending home sales fell in April
Pending home sales in April dropped more than expected as mortgage rates climbed toward a multidecade high, the National Association of Realtors reported on Thursday. April's pending sales index fell by 3.9% on the month, following an upwardly revised 1.6% decline in March. That pushed the total ... READ MORE >
Chart of the day: U.S. existing home sales fall again as rates rise
Sales of existing homes in the United States fell for the third straight month in April as the housing market continued to cool off amid steep mortgage rate increases. Total sales declined to 5.61 million on the month, down by 2.4% compared to March and by 5.9% from a year ago, according to data ... READ MORE >
Pending home sales fell back to pre-pandemic level amid rising rates
U.S. pending home sales fell 1.2% in March, declining for the fifth month in a row, as demand continued to slow due to high home prices and rising mortgage rates. The National Association of Realtors' index for pending home sales is a proxy for future sales of existing homes as about 80% of pending ... READ MORE >
Chart of the day: U.S. home prices hit record in March
Sales of existing homes fell by 2.7% to 5.77 million in March, the lowest since July 2020, as rising mortgage rates dampened demand. The median home price, however, hit a record high at $375,300, pointing to persistent housing shortages, according to data the National Association of Realtors released on ... READ MORE >
Chart of the day: Pending home sales drop again in February
Pending home sales in February dipped for the fourth straight month as depleted inventory and rising mortgage rates dampened sales. The number of contracts signed for homes dropped 4.1% in February, following a 5.7% decline in January, according to data from the National Association of Realtors ... READ MORE >
Chart of the day: Existing home sales fall 4.6%
Existing home sales in the United States cooled off significantly in December, dropping 4.6% on the month to 6.18 million amid near-record housing prices and supply constraints, according to a report from the National Association of Realtors on Thursday. Still, 2021 was a record year for the housing ... READ MORE >
Pending home sales in October rebounded to highest in 2021
Pending home sales rebounded by 7.5% in October following a small decline of 2.4% in September, continuing their rise from a recent low in April, according to new data on Monday from the National Association of Realtors. The sharp increase in contract signings month-over-month pointed to housing demand ... READ MORE >