existing-home sales Archive

Existing-Home Sales Dip in December

A dip in existing sales activity in December (2.8 percent) was not enough to keep 2016 from being the strongest year of sales (5.45 million) in exactly a decade. During this morning’s press conference, Lawrence Yun, NAR chief economist,...
January 24, 2017

Lawrence Yun on Housing and the Economy in 2017

It’s hard to believe 2016 is coming to an end. Three things rose over the past year: mortgage rates, existing-home sales and home prices. What’s in store for 2017? Watch my discussion from earlier this week with NAR Chief...
December 29, 2016

November Existing-Home Sales: The Streak Continues

The headline of this post may lead you to believe that existing-home sales were up again in November for the third straight month. That is indeed true. However, “the streak” I’m referring to is the remarkable fact that existing-sales...
December 21, 2016

2017: Expect Higher Mortgage Rates, Slightly More Sales

2016 was a great year for the housing market. Existing-home sales are currently (as of October) at their strongest pace since February 2009, distressed sales reached an all-time low earlier this fall and first-time buyers finally gained some traction...
December 14, 2016

Existing-Home Sales in October: Highest Pace in Nearly a Decade

The housing market has indeed awakened from its summer slumber. Existing-home sales posted a 2 percent monthly gain in October and are now 5.9 percent higher than a year ago. Even more impressive? At a 5.60 million annualized sales pace,...
November 22, 2016

Instant Reaction: October Housing Starts

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Commerce Department’s October report on residential construction: “Housing starts soaring past the 1.3 million mark for the first time since 2007 is big and welcoming news....
November 17, 2016

First-time Buyers Experience a Revival in September

The last time sales to first-time buyers were as high as they were in September (34 percent), the number one song on the Billboard Hot 100 was “Call Me Maybe” by Carly Rae Jepson. That was back in June...

Blame Low Inventory and Higher Home Prices for August’s Existing-Home Sales Slide

Existing sales fell in August to their second-lowest pace of 2016 (5.33 million). But don’t let the down sales number fool you. This is a very active housing market. Properties in August typically sold 10 days quicker than a...
September 22, 2016

Behind July’s Existing-Home Sales Cooldown

After steadily rising for four straight months, stubbornly low inventory levels and affordability pressures caused existing-home sales to falter in July. Just how bad is the current supply situation? Consider the fact that we were saying a year ago...

Existing-Home Sales Keep Climbing…Can It Last?

This morning we reported that existing-home sales increased in June (1.1 percent) for the fourth straight month and remained at their highest annual sales pace since February 2007 (5.79 million). Almost every nook and cranny inside the data shows that it...