US Existing Home Sales Fall for Fifth Straight Month in June to Two Year Low

June US existing home sales from the National Association of Realtors fell 5.4% to 5.12 million below market forecasts of 5.40 million. This was the fifth straight month of declines. Higher interest rates are creating affordability pressures for prospective buyers. Total sales in June were down 14.2% from a year ago. This is becoming an even bigger factor, the average commitment rate for a 30-year, conventional, fixed-rate mortgage was 5.52% in June, up from 5.23% in May. The average commitment rate across all … Continue reading “US Existing Home Sales Fall for Fifth Straight Month in June to Two Year Low”

US Existing Home Sales Fall for Fourth Straight Month in May as Mortgage Rates Rise

May US existing home sales from the National Association of Realtors fell 3.4% to 5.41 million below market forecasts of 5.40 million. This was the fourth straight month of declines. Higher interest rates are creating affordability pressures for prospective buyers. This is becoming an even bigger factor, on June 16 the average rate on a 30-year, fixed-rate mortgage rose to 5.78%, mortgage-finance giant Freddie Mac said. This is the highest level since November 2008 and well above the 3.11% recorded near … Continue reading “US Existing Home Sales Fall for Fourth Straight Month in May as Mortgage Rates Rise”

US Existing Home Sales Fall -2.4% in April as Mortgage Rates Rise

April US existing home sales from the National Association of Realtors fell 1.9% to 5.61 million below market forecasts of 5.65 million. This was the third straight month of declines. Higher rates are creating affordability pressures for prospective buyers. Mortgage rates have risen from record low levels as the economy reopened from coronavirus-induced restrictions. Existing home sales drop in April on demand slowdown Existing home sales data for April 2022 Highlights US April existing home sales 5.61m vs 5.65m expected Prior … Continue reading “US Existing Home Sales Fall -2.4% in April as Mortgage Rates Rise”

US Existing Home Sales Rise +1.9% in November Ahead of Expected Mortgage Rates Rise

November US existing home sales from the National Association of Realtors rose 1.9% to 6.34 million below market forecasts of 6.52 million. Pressure coming from the supply of existing homes for which is at 2.1 months vs 2.4 month prior. Higher rates is creating affordability pressures for prospective buyers. Mortgage rates have risen from record low levels as the economy reopened from coronavirus-induced restrictions. US November 2021 existing home sales Highlights 6.46m vs 6.52m expected, Prior 6.34m Sales change +1.9% … Continue reading “US Existing Home Sales Rise +1.9% in November Ahead of Expected Mortgage Rates Rise”

Favorite Fed Inflation Data Core PCE Rose +3.1% YoY vs +2.9% Expected in April

The favorite inflation measure of the Fed, core PCE Price Index, which excludes food and energy, increased 3.1% ahead of consensus 2.9%,the most since 2018 and up from last month’s +1.8% year-over-year. The PCE Price Index jumped 0.7% m/m, over 0.6% expected, up from.4% prior.

US Existing Home Supply Shortfall Sees Sales Fall Three Months Straight

April US existing home sales from the National Association of Realtors fell 2.7% to 5.858 million v forecasts of a 2 percent rise. Notably pressure is coming from the supply of existing homes for sale remains near all-time low levels. This is creating affordability pressures for prospective buyers.   Mortgage rates have risen from record low levels as the economy reopens from coronavirus-induced restrictions. April 2021 US Existing Home Sales from the National Association of Realtors After months of gains … Continue reading “US Existing Home Supply Shortfall Sees Sales Fall Three Months Straight”

US March Core PCE MoM +0.4% vs +0.3% expected

The favorite inflation measure of the Fed, core PCE Price Index, which excludes food and energy, increased 0.4% ahead of consensus 0.3% and up from last month’s +0.1%, putting it up 1.8% year-over-year. The PCE Price Index jumped 0.5%, as expected, putting it up 2.3% year-over-year, the most since 2018

US March Existing Home Sales Lower as Median Price Hits Record High

March US existing home sales from the National Association of Realtors rose 6.01m vs 6.11m expected. Sales -3.7% m/m vs -1.8% expected (-6.6% prior) from an upwardly revised 6.24 million (from 6.22 million) in February. Notably pressure is coming from the supply of existing homes for sale remains near all-time low levels. This is creating affordability pressures for prospective buyers. /p>

Housing Market Update, KB Home Earnings, Mortgages and Home Sales

After a series of weak housing data we get a chance to gage if this is just a breather or we are in for a more servere housing pullback. Ahead are earnings from KB Home $KBH, mortgage applications, house Prices, existing home sales and new home sales.

Americans Buying Homes Again in June, Pending Home Sales +1.5%

US pending home sales from the National Association of Realtors in June show the first gain in four months. With the stock market at all time highs and in some regions home prices at new highs home sale volumes have concerned many.