Tagged: Existing-Home Sales

Pending home sales rose modestly in August by 0.6%

August sales dip, but analysts eye year-end comeback with lower rates and rising supply

With single-family starts and permits rising in August, Fed rate cuts ease construction costs for builders, though competition from resale inventory also stands to increase

Redfin reported sales of existing homes fell 3.1% year over year in August; Fannie Mae's September 2024 commentary anticipates the annual pace to be the slowest since 1995

Fewer existing-home sales than last year indicate affordability and inventory challenges continue to plague purchase borrowers

First-time homebuyers accounted for 30% less purchases this June

More home-purchase agreements canceled than any other July on record

Cooling demand in May and June put downward pressure on price gains

Existing homes sold in June at a rate only 40,000 units above that experienced in October 2023 — when mortgage rates kissed 8% — and 1.5 million units lower than June 2019.

The 54,300 existing homes international clients bought from April 2023 to March 2024 is 36% fewer annually.