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Sales of previously owned houses in the US rose 1.3 percent from the previous month to a seasonally adjusted annual rate of 5.49 million in August 2019, the highest level since March 2018 and above market expectations of 5.37 million. Buyers are benefiting from lower mortgage rates, low unemployment, rising wages and slower house price inflation.
The Pending Home Sales Index (PHSI), an indicator based on contract signings, climbed 1.6% to 107.3 in August, reversing the prior month’s decrease. Year-over-year contract signings jumped 2.5%. An index of 100 is equal to the average level of contract activity.
Pending Home Sales Plunge In August Led By Collapse In West by Tyler Durden Thu, 09/27/2018 – 10:09 pending home sales plunged in August, dropping 1.8% MoM (almost four times worse than expected) to its lowest since Oct 2014 (and fell 2.5% YoY) – the fourth month of annual declines in a row.
WASHINGTON (August 29, 2019) – Pending home sales fell in July, reversing course on two consecutive months of gains, according to the National Association of Realtors. Of the four major regions, each reported a drop in contract activity, although the greatest decline came in the West.
Pending Home Sales Decline 2.5% in July. August 29, 2019 from TalkFloor Newsletter. Washington, D.C. – Pending home sales fell in July, reversing course on two consecutive months of gains, according to the National Association of Realtors.
Pending home sales slipped in August as fewer Americans signed contracts to purchase a house, the fourth decline in the past five months.
The Pending Home Sales Index, * a forward-looking indicator based on contract signings, declined 2.6 percent to 99.2 in August from an upwardly revised 101.9 in July but is 10.7 percent above.
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Pending home sales slowed in August, with tight inventory conditions, higher interest rates, rising home prices and continuing restrictive mortgage credit impacting the market, according to the.
a decline of 0.64% from July, and up 4.4% from August of 2018. Sales activity remains strongest in homes priced under $500,000, although even there the number of homes sold is down 10.2 percent.
Pending home sales increased in August, a welcome rebound after a prior month of declines. Each of the four major regions reported both month-over-month growth and year-over-year gains in contract activity. Read the full news release.
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