U.S. Pending Home Sales Rise 2.5% in December as Real Estate Market Stabilizes

US pending home sales unexpectedly rose 2.5% month-over-month in December of 2022, the first rise since May, and beating market forecasts of a 0.9% drop. Sales were higher in the South (6.1%) and the West (6.4%) but fell in the Northeast (-6.5%) and Midwest (-0.3%). For perspective year-on-year, pending home sales are down 33.8%. We saw positive signs yesterday we saw new home sales increased 2.3% month-over-month in December to a seasonally adjusted annual rate of 616,000 units (consensus 614,000) … Continue reading “U.S. Pending Home Sales Rise 2.5% in December as Real Estate Market Stabilizes”

U.S. Pending Home Sales Fall in July 1.0% as Housing Affordability Plummeted to Lowest level since 1989

US pending home sales fell 1% in July 2022, following a sharp 8.9% mom fall in June of 2022. Mortgage data has been weak as escalating mortgage rates and housing prices are impacting affordability for potential buyers. Pending sales fell in three of four major regions, with the West posting a small increase. US new home sales for July were much lower, down 12.6% month-over-month to a seasonally adjusted annual rate of 511,000 units (consensus 580,000) from a downwardly revised 585,000 … Continue reading “U.S. Pending Home Sales Fall in July 1.0% as Housing Affordability Plummeted to Lowest level since 1989”

U.S. Pending Home Sales Fall Sharply in June, Down 8.6% As Homebuyers Affordability Squeezed

US pending home sales fell a sharp 8.6% mom in June of 2022, much worse than market forecasts of a 1.5% drop. This was in contrast to increasing 0.4% in May. Mortgage data has been weak as escalating mortgage rates and housing prices are impacting affordability for potential buyers. US new home sales for June declined 8.1% month-over-month to a seasonally adjusted annual rate of 590,000 units (consensus 670,000) from a downwardly revised 642,000 (from 696,000) in May   National Association … Continue reading “U.S. Pending Home Sales Fall Sharply in June, Down 8.6% As Homebuyers Affordability Squeezed”

U.S. Pending Home Sales Fall Sharply in Largest Decline Since May 2010

US pending home sales fell a sharp -4.9% v +0.5% estimates, in contrast to December existing home sales rising to 5.54M v 5.43M expected. Mortgage data has been volatile but stronger in late 2019 flowing onto housing as the stockmarket hit all time highs.

U.S. Existing Home Sales Continue To Fall as Inventories Rise

US existing home sales tumbled to 5.19M v 5.35M expected and the prior 5.21M, down -0.4% v +2.7% expected. Mortgage data has been volatile but stronger in 2019 so perhaps housing numbers pick up in the coming months if the geopolitical temperature cools. 

US Home Price Gains Slow To Over 6 Year Low Says Case-Shiller

House prices rose a seasonally adjusted 0.1% in January the S&P CoreLogic Case-Shiller 20-city index showed. Price gains were 3.6% higher compared to a year ago. However that is the slowest annual growth since 2012 with a monthly decline for the third-straight month.