existing-home sales Archive

Home Sales Spiked in March…and Sold Fast

An abnormally warm winter, strong consumer confidence and robust underlying demand ended up being the perfect formula to push existing-home sales in March to their highest pace in over 10 years. More notably, despite the fact that supply is...

Instant Reaction: March Housing Starts

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Commerce Department report on March residential construction: “A major housing shortage exists in this country. It is therefore disappointing to witness in March the continued lackluster...

Existing-Home Sales Hit Rough Patch in February

Talk to a Realtor® in much of the country right now and they’ll all echo a similar narrative: homes are selling quickly because there are not enough listings on the market. It’s why existing sales stumbled in February and price...

January Existing-Home Sales: A Nice Start to the Year

Mortgage rates have shot up 38 basis points since last November’s cyclical existing sales peak of 5.60 million. One would think that would translate into a dip in sales activity at the beginning of 2017. Today’s report shows that...
February 22, 2017

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