Pending Homes Sales Up in January – NMP Skip to main content

Pending Homes Sales Up in January

Phil Hall
Feb 27, 2015

January’s wicked weather had no impact on pending home sales, according to the latest data from the National Association of Realtors (NAR), which reported that buyer demand last month reached the highest level since August 2013.

NAR’s Pending Home Sales Index rose 1.7 percent to 104.2 in January from an upwardly revised 102.5 in December and is now 8.4 percent above January 2014 (96.1). This is the fifth consecutive month of year-over-year gains.

Pending home sales experienced the largest increase in the South, up 3.2 percent to an index of 121.9 in January (the highest since April 2010) and is 9.7 percent above the January 2014 level. The Northeast and West saw modest increases in January, while the index for the Midwest slipped 0.7 percent to 99.3 in January—although it is 4.2 percent above January 2014.

This new data was in stark contrast to earlier in the week, when NAR reported that existing-home sales declined in January to their lowest rate in nine months. Lawrence Yun, NAR chief economist, warned that the mostly positive start to 2015’s pending-home sales was no guarantee to a vibrant year.

“All indications point to modest sales gains as we head into the spring buying season,” said Yun. “However, the pace will greatly depend on how much upward pressure the impact of low inventory will have on home prices. Appreciation anywhere near double-digits isn't healthy or sustainable in the current economic environment.”

Published
Feb 27, 2015
loanDepot And mellohome's 'Grand Slam' Experience Builds Momentum

After recently launching Grand Slam, a new buying experience, loadDepot and its sister company, mellohome, has seen more than 1,400 accepted customer offers.

Industry News
Dec 08, 2021
SoCal VA Homes Stresses Importance Of New VA Loan Limits

SoCal VA Homes, a company that works exclusively with active military and Veteran homebuyers, expressed how important the Federal Housing Finance Agency's new conforming loan limit is to the demographic.

Military Lending
Dec 08, 2021
OpenClose Launches Mobile Assist

OpenClose, a fintech provider of mortgage software solutions for banks, credit unions, and mortgage lenders launched its native mobile app platform, Mobile Assist.

Tech
Dec 07, 2021
Deephaven Heightens Foreign National DSCR Program

Deephaven is amping up its Foreign National DSCR Program as a response to the increase in the real estate investment market.

Non-QM
Dec 07, 2021
Revolution Mortgage Opens Second Mortgage Branch In Cincinnati

Columbus, OH-based Revolution Mortgage announced the opening of its second branch in Cincinnati and 14th branch in Ohio.

Industry News
Dec 06, 2021
Nations Lending Teams Up With NBA Legend Dennis Rodman On Integrated Brand Campaign

Nations Lending, a full-service national mortgage lender, announced the launch of its first integrated brand campaign starring NBA Champion and All-Star Dennis Rodman.

Sales and Marketing
Dec 06, 2021