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Category: Home Sales

  • Perhaps They’re Back

    Existing home sales rebounded after a two-month slump but the National Association of Realtors was even more excited by a second stat–the share of first-time homebuyers rose 3 percentage points to 34%, the highest since July 2012.   NAR Chief Economist Lawrence Yun said, “The market fundamentals–primarily consistent job gains and affordable mortgage rates–are there…

  • A Respectable Report

    Given the spectacular showing of new home sales in July–up 12.4% and topping an annual rate of 600,000 for the first time since the crash–no one really expected August sales to continue the breakneck pace. And they didn’t. But last week’s report from the Census Bureau and the Department of Housing and Urban Development was…

  • New Homes on the Way

    Despite a month-long tease by way of comments from various board members, the September meeting of the Federal Open Market Committee (FOMC) came and went this week leaving rates untouched. A hike in the fed funds rate did get three “yes” votes, two more than in August. Whether in reaction to the FOMC decision or…

  • Pending Sales Lag

    Commentary — March 4, 2016   Even though, as we reported last week, existing homes sold in January at the fastest pace in six months, not nearly so many potential homebuyers were rushing to sign purchase agreements. The National Association of Realtors (NAR) said this week that its Pending Home Sale Index (PHSI)–a forward looking…