Pending home sales declined to four-year low in October

Pending home sales in October were down by 6.7 percent compared to the same month a year ago, reflecting the tenth straight month of annual decreases. A pending home sale is one in which a.

Pending Home Sales in U.S. Declined to Four-Year Low in October shobhana chandra nov 29 2018, 3:00 PM Nov 29 2018, 6:16 PM November 29 2018, 3:00 PM November 29 2018, 6:16 PM

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According to NAR, the decline in the PHSI may have resulted from concerns over stock market volatility, housing affordability and higher mortgage rates in October and November. Despite monthly fluctuations, there has been a downward trend for pending home sales over the past 12 months, with sales lower compared to a year ago.

Pending Home Sales Decline in April. Year-over-year, the PHSI increased 2.7% in the South, but declined by 4.6% in the West, 5.1% in the Midwest and 7.0% in the Northeast. existing sales fell last month, and the combination of a tight inventory, rising mortgage rates and higher prices suggest more of the same this spring.

Pending sales fell in three of four regions, led by a an 8.9 per cent slump in the West as the Midwest and South also declined. Signings in the Northeast rose 0.7 per cent. The index level of 102.1 was the lowest since July 2014.

“Pending. home prices, coupled with low mortgage rates, bode well for housing affordability and may bring more buyers who may have given up back to the market.” Other key points from the March 2019.

That followed year-over-year declines of 7.8% in November and 5.1% in October, according to NAR. NAR released data earlier this month showing that pending home. said the home-sales drought had hit.

Pending home sales have declined in six of the last eight months, signaling more trouble for the housing sector. The monthly reading for October remained unrevised at 0.6% decline from the.

However, the company’s economists expect residential fixed investment to recover from last year’s decline. home sales. The authors expect them to recover fully by mid-year from their mediocre.

Mortgage rates end the week flat Mortgage rates. lenders flat and others distinctly lower. The discrepancy is due to the timing of yesterday’s market movements and the corresponding lender reactions. Some lenders saw enough.

Pending Home Sales in U.S. Declined to Four-Year Low in October Shobhana Chandra , Bloomberg News (Bloomberg) — Contract signings to purchase previously-owned U.S. homes unexpectedly fell by the most since January, reaching the lowest level since mid-2014 amid mounting evidence that the housing market is struggling.