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. to-month movements can be instructive, but in this uneven recovery it’s important to look at the longer term performance. Pending home sales have trended up very nicely since bottoming out last.
· Pending Home Sales Index. The number of existing homes under contract for sale in the month of October increased by 3.5% to an index level of 109.3. Pending sales and the South appear to be bouncing back after the hurricanes, up 7.4%. It’s the strongest region in terms of pending sales.
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· Single-family home starts fell to a 858,000 rate, the slowest since December, from 944,000 the prior month. Groundbreaking on multifamily homes, such as apartment buildings and condominiums, fell to an annual rate of 315,000; data on these projects can be volatile.
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This would mark. home sales after three straight months of declines. Consensus economists expect the National Association of Realtors to report that sales of previously owned homes grew 3.2%.
mark the first year that Michigan employment had not declined since CY 2000.. declines began the month following the official start of the recession, sharp real GDP declines began a year later. In 2008Q4, real GDP fell at a 5.4 percent annual rate followed by a 6.4. the pending home sales.
Pending home sales are forward-looking indicators of future home sales activity, offering solid information on future changes in the direction of the market. A sale is listed as pending after a seller has accepted a sales contract on a property. The majority of pending home sales usually become closed sales transactions one to two months later.
· The return to the long-run trend for sales and recent declines in mortgage interest rates (now around 4.1%) suggest new home sales growth in the months ahead. Moreover, looking at the combined January and February data, new home sales thus far in 2019 are running 2.8% ahead of the comparable months of 2018.
The National Association of Realtors® (NAR) just issued the first positive pending home sales report in. within the next two months, the PHSI is down 1.0 percent September 2017, the ninth straight.
· Home prices may finally be about to go down, as speculators and industry experts say that many highly priced homes are becoming more affordable. After years of declines.