Skip to main content

Market for Potential Home Sales Remains Stagnant

Phil Hall
Aug 23, 2017
Home prices during September increased nationally by 3.5 percent from one year earlier and were also up by 0.4 percent from August

Potential existing-home sales during July increased to a 5.82 million seasonally adjusted, annualized rate (SAAR), a 0.2 percent month-over-month increase and a 0.1 percent uptick from one year earlier, according to data from First American Financial Corp.
 
As of last month, potential existing-home sales were at 541,000 (SAAR), or 9.3 percent below the pre-recession peak of market potential, which occurred in July 2005. However, First American determined that the market for existing-home sales is underperforming its potential by 4.7 percent or an estimated 273,000 (SAAR) sales.
 
“Lack of supply continues to be the main story of the 2017 housing market,” said Mark Fleming, chief economist at First American. “Just a few months ago, the difference between the actual level of existing-home sales and the market’s potential was negligible, but supply issues have become a significant impediment and are preventing the market from reaching its potential.”

 
Published
Aug 23, 2017
FormFree Enters Deal To Offer Products to Lenders One Members

Mortgage Cooperative Hopes Automated Borrower Verification Tools Will Enhance Customer Experience

Industry News
Aug 03, 2021
AHP Servicing Names Charles Halko Jr. CFO

Brings 30-Years Of Experience to Chicago-Based Servicer

Industry News
Aug 03, 2021
Ready Capital Announces Deal To Acquire Red Stone

Real Estate Finance Company Expands In Multi-Family Affordable Housing Sector

Industry News
Aug 03, 2021
Anchor Loans Hires Andrew Jewett As SVP, Enterprise Sales

Formerly lead lending at Sundae Inc.

Industry News
Aug 02, 2021
Pretium Adds 3 Execs With Residential Credit Expertise

New Hires Will Serve As Managing Directors

Industry News
Aug 02, 2021
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021