US Existing Home Sales Rebound 0.8% in November as Mortgage Rates Fall

US existing home sales in November rose 0.8% on the month to 3.82M vs 3.77M estimate and the prior month 3.79M annualized, finishing a five-month drop. Sales retreated 7.3% from one year ago.The median existing-home sales price rose 4.0% from November 2022 to $387,600, the fifth consecutive month of year-over-year price increases. Inventory is still tight at 1.130M or 3.5 months, down 1.7% from the previous month. High mortgage rates, high selling prices, and limited inventory are still holding back … Continue reading “US Existing Home Sales Rebound 0.8% in November as Mortgage Rates Fall”

US Existing Home Sales Fell 4.1% in October at Slowest Pace Since August 2010

High mortgage rates, high selling prices, and limited inventory saw US existing home sales at the slowest pace of sales since August 2010. The National Association of Realtors said the sales decreased 4.1% month-over-month in October to a seasonally adjusted annual rate of 3.79 million (consensus 3.90 million) from a downwardly revised 3.95 million (from 3.96 million) in September. Sales were down 14.6% from the same period a year ago. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 7.44% … Continue reading “US Existing Home Sales Fell 4.1% in October at Slowest Pace Since August 2010”

US Existing Home Sales Fell 2.0% in September to Lowest Since October 2010

US existing home sales from the National Association of Realtors decreased 2.0% month-over-month in September to a seasonally adjusted annual rate of 3.96 million. Sales retreated 15.4% from one year ago. Existing-home sales rose in the Northeast but receded in the Midwest, south, and West. All four regions registered year-over-year sales declines. Inventory of existing homes for sale climbed 2.7% from the prior month to 1.13 million at the end of September, or the equivalent of 3.4 months’ supply at … Continue reading “US Existing Home Sales Fell 2.0% in September to Lowest Since October 2010”

US Existing Home Sales Fell 0.7% in August, High Mortgage Rates and House Prices Impacting

US existing home sales from the National Association of Realtors decreased 2.2% month-over-month in July to a seasonally adjusted annual rate of 4.07 million (consensus 4.15 million) from an unrevised 4.16 million in June. Sales were down 16.6% from the same period a year ago. Inventory of existing homes for sale remains extremely tight, due partially to the strength of the labor market (and ability to work remotely) and affordability with higher mortgage rates. According to Freddie Mac, the 30-year fixed-rate … Continue reading “US Existing Home Sales Fell 0.7% in August, High Mortgage Rates and House Prices Impacting”

US Existing Home Sales Fell 2.2% in July, High Mortgage Rates and Tight Inventory Impacting

US existing home sales from the National Association of Realtors decreased 2.2% month-over-month in July to a seasonally adjusted annual rate of 4.07 million (consensus 4.15 million) from an unrevised 4.16 million in June. Sales were down 16.6% from the same period a year ago. Inventory of existing homes for sale remains extremely tight, due partially to the strength of the labor market (and ability to work remotely) and affordability with higher mortgage rates. According to Freddie Mac, the 30-year fixed-rate … Continue reading “US Existing Home Sales Fell 2.2% in July, High Mortgage Rates and Tight Inventory Impacting”

US Existing Home Sales Fell 3.3% In June, Inventory for Sale Remains Extremely Tight

US existing home sales from the National Association of Realtors decreased 3.3% month-over-month in June to a seasonally adjusted annual rate of 4.16 million (consensus 4.25 million) from an unrevised 4.30 million in May. Sales were down 18.9% from the same period a year ago for perspective. Inventory of existing homes for sale remains extremely tight, due partially to the strength of the labor market (and ability to work remotely) and affordability with mortgage rates. According to Freddie Mac, the … Continue reading “US Existing Home Sales Fell 3.3% In June, Inventory for Sale Remains Extremely Tight”

US Existing Home Sales Rose 0.2% In May, Inventory for Sale Remains Extremely Tight

US existing home sales from the National Association of Realtors increased 0.2% month-over-month in May to a seasonally adjusted annual rate of 4.30 million (consensus 4.28 million) from an upwardly revised 4.29 million (from 4.28 million) in April. For perspective sales were down 20.4% from the same period a year ago. Inventory of existing homes for sale remains extremely tight, due partially to the strength of the labor market (and ability to work remotely) and affordability with mortgage rates. February … Continue reading “US Existing Home Sales Rose 0.2% In May, Inventory for Sale Remains Extremely Tight”

US Existing Home Sales Fell 2.4% In March, Inventory for Sale Extremely Tight

US existing home sales from the National Association of Realtors declined 2.4% month-over-month in March to a seasonally adjusted annual rate of 4.44 million (consensus 4.50 million) versus a downwardly revised 4.55 million (from 4.58 million) in February. Sales were down 22.0% from the same period a year ago. Inventory of existing homes for sale remains extremely tight, due partially to the strength of the labor market (and ability to work remotely) and affordability with mortgage rates. February was the … Continue reading “US Existing Home Sales Fell 2.4% In March, Inventory for Sale Extremely Tight”

US Existing Home Sales Soar 14.5% In February, First Rise in Over Twelve Months

US existing home sales from the National Association of Realtors rose 14.5% month-over-month in February to a seasonally adjusted annual rate of 4.58 million (consensus 4.2 million) versus an unrevised 4.0 million in January. Existing home sales had fallen twelve straight months prior to February, the longest stretch since 1999, and the lowest level since November of 2010. Total sales in February were down .0% from one year ago.  All regions experienced year-over-year declines. The median existing-home price for all housing types … Continue reading “US Existing Home Sales Soar 14.5% In February, First Rise in Over Twelve Months”

US Existing Home Sales fell 1.5% In December, Down for Eleventh Straight Month

US existing home sales from the National Association of Realtors fell 1.5% month-over-month in December to a seasonally adjusted annual rate of 4.02 million (consensus 4.20 million) versus an unrevised 4.43 million in November. That is the eleventh straight month that existing home sales have fallen, the longest stretch since 1999, and the lowest level since November of 2010. Total sales in December were down 34.0% from one year ago.  All regions experienced year-over-year declines. The median existing-home sales price climbed … Continue reading “US Existing Home Sales fell 1.5% In December, Down for Eleventh Straight Month”