Skip to main content

Pending Home Sales Down in July

Phil Hall
Aug 31, 2017
Home prices were up by seven percent on a year-over-year measurement in September, according to new data from CoreLogi

The National Association of Realtors’ (NAR) Pending Home Sales Index (PHSI) dropped by 0.8 percent to 109.1 in July from a downwardly revised 110.0 in June. On a year-over-year basis, the index fell by 1.3 percent.
 
On a regional basis, the PHSI fell in three of the four geographic regions. The Northeast index dipped by 0.3 percent to 97.7, the Midwest index tumbled by 0.7 percent to 103.3 in July, and the index for the South went south by 1.7 percent 123.1. The index in the West saw limited upward mobility with a 0.6 percent uptick to 102.3.
 
“With the exception of a minimal gain in the West, pending sales were weaker in most areas in July as house hunters saw limited options for sale and highly competitive market conditions,” said NAR Chief Economist Lawrence Yun. “The housing market remains stuck in a holding pattern with little signs of breaking through. The pace of new listings is not catching up with what’s being sold at an astonishingly fast pace.” 
Pending Home Sales Down in July

 
Published
Aug 31, 2017
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021
Interfirst Mortgage Launches ONE, Backed By Non-Owner Occupied Properties

ONE is a unique product built on a single interest rate with no adjustments and qualifies off the cash flow of the rental property.

Industry News
Jul 16, 2021
Global Digital Lending Market Projected To Reach $27B By 2028

The Global Digital Lending Platform Market was valued at $7.14 billion in 2020 and is projected to reach $27.07 billion by 2028.

Analysis and Data
Jul 14, 2021
FOMC Discusses Raising Interest Rates

Inflationary pressures have finally forced the Federal Open Market Committee (FOMC) to discuss raising interest rates and tapering its bond-buying program.

Analysis and Data
Jul 14, 2021
Fathom Holdings Inc. Creates New Hispanic Division

Fathom Holdings Inc., a technology-driven real estate platform, announced the creation of their Hispanic Division to more adequately serve this fast-growing demographic. 

Industry News
Jul 07, 2021