Skip to main content

Pending Home Sales Weaken

Phil Hall
Sep 27, 2018
Total existing-home sales increased 1.9 percent from October to a seasonally adjusted rate of 5.32 million in November,

Pending home sales were down last month, according to the National Association of Realtors (NAR).
 
The Pending Home Sales Index (PHSI) dropped by 1.8 percent to 104.2 in August from 106.1 in July. On an annualized measurement, the PHSI is down by 2.3 percent. On a regional basis, the PHSI in the Northeast dropped 1.3 percent to 92.7 and the Midwest index dipped by 0.5 percent to 101.6. Pending home sales in the South were down 0.7 percent to an index of 121.3 in August, while the index in the West slid by 5.9 percent to 89.1. 
 
“Pending home sales continued a slow drip downward, with the fourth month over month decline in the past five months,” said NAR Chief Economist Lawrence Yun. “Contract signings also fell backward again last month, as declines in the West negatively impacted overall activity. The greatest decline occurred in the West region where prices have shot up significantly, which clearly indicates that affordability is hindering buyers and those affordability issues come from lack of inventory, particularly in moderate price points.”
Pending home sales were down last month, according to the National Association of Realtors (NAR)

 
Published
Sep 27, 2018
Popular Bank Names National Director Of Residential Lending

Popular Bank named Adam Dejak as its national director of residential lending for Popular Mortgage.

Industry News
Jan 20, 2022
Sagent Appoints Thompson As Chief Product Officer

Founder of fintech managment consulting firm Consigliera will lead and expand product development.

Industry News
Jan 20, 2022
Total Expert Appoints Gaydos As President

Former Talkdesk and SAP senior executive brings extensive cloud, go-to-market, sales, and operations experience.

Industry News
Jan 20, 2022
400 Mortgage Loan Originators Caught Trying To Skip School

400 mortgage loan originators nationwide deceptively claimed to have completed their annual continuing education as required by state and federal law.

Industry News
Jan 19, 2022
Infamous Better.com CEO Is Back And Employees Are Upset

After a month-long hiatus or “break” as Garg likes to call it, the CEO is back at the helm of the company.

Industry News
Jan 19, 2022
Capacity Closes $38M In Series C Funding, Surpasses $62M In Total Capital Raised

AI-powered automation platform, Capacity, announced an additional $27 million in Series C funding, closing out the round at more than $38 million.

Tech
Jan 19, 2022