NAR: Pending home sales up 10.3% from last year

Existing-home sales in the South dropped 5.4% to an annual rate of 2.09 million in December, down 8.7% from last year. The median price in the South was $224,300, up 2.5% from a year ago.

 · Last month’s 18.6 percent surge in existing-home sales from a year earlier had some market observers doing a double-take, but Galen Ward, who runs a real estate brokerage web site, says it.

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 · Outside of the storms’ effects, the housing market is being hindered by a lack of properties that has driven up prices. Sales of homes listed for less than $250,000 are down from last year, while those at the upper end of the bracket are "up solidly," the NAR said.

With June’s increase, the index is up 2.5%. “After two straight months of pending sales declines, home shoppers in a majority of markets had a little more success finding a home to buy last month,”.

Final 4Q GDP estimate comes in below expectations The final release Tuesday, the Dallas Fed’s Manufacturing Activity, disappointed at -5.3 versus expectations of 6.2. On Wednesday, the Richmond Fed’s manufacturing activity index also came in below expectations but was stronger than the April reading.Jobless rates stay level or improve in 32 states Small housing inventory may push rental demand for years Manhattan inventory has been piling up for three years now.. largest project, can sell units at the same pace as smaller buildings.. in 2014, and had originally planned on building a mix of condos and rentals.. “I will say we're seeing a global demand for luxury real estate in New York City,” he said.

 · A month on month rise in pending home sales brought some cheer to the housing market ahead of the buying season, but they fell short of sales recorded last year.. NAR, a sale.

Understand the New Tax Law: Video 3 (Home owners)  · Last month, almost 32% of homes sold were purchased by first time buyers. This is a 5% increase from a year ago. TWO: Housing starts (new homes being built) are.

Year-over-year the pending homes sales index decreased 3.0% from last March, when the index was 110.9. IFR Markets predicted the index would be up 0.9%. Regionally. of the lack of choices in.

Sales of existing single-family homes were up 6.3 percent when compared to last February with half of all counties improving from last year, while the rest dipped on a year-over-year basis. The southern california market was not as robust as the Bay Area and the Central Valley with an overall sales decline of 2.8 percent when compared to last.

Pending home sales made an end-of-year push in December, picking up 1.6 percent. rebounded last month as enough buyers fended off rising mortgage rates and alarmingly low inventory levels to sign a.

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KEYWORDS NAR National Association of realtors pending. home sales and slower price growth.” “The reason sales are falling off last year’s pace is that multiple years of inadequate supply in markets.