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 Rise as Stockmarkets Ht All Time Highs
US existing home sales rose to 5.54M v 5.43M expected and the prior 5.35M, up +3.6%% v +1.5% expected. Mortgage data has been volatile but stronger in late 2019 flowing onto housing as the stockmarket hit all time highs.
US Building Permits and Housing Starts Highest Levels in 12 Years
US building permits for August came in at 1419 K v a 1300K estimate and Housing starts were 1364K v a 1250K estimate. Both building permits and housing starts are at their highest since 2007
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.
U.S. Existing Home Sales Plummet to Three Year Low
US existing home sales tumbled 4.99M v 5.24M expected, down -6.4% v -1.5%. Mortgage data has been stronger in 2019 so perhaps housing numbers pick up in the coming months with the Fed being flexible on rates.
U.S. Housing Starts Down 12.3% To 9 Month Low as Rates Rise
US housing starts in June fell 12.3% to 1173k reversing the May surge of 1337K which was a 11 year high. Mortgage data was also weak today. Housing numbers have been falling for a few months after a big jump in 2017 with the Fed raising rates.