Tag Archives: Existing-Home Sales

The share of existing-home sales ticked up, ending a five-month slide, according to a new report from NAR, while the median existing-home price also jumped in November, marking a fifth consecutive month of year-over-year price increases.

First American's latest Potential Home Sales Model revealed mortgage rates declined in November, "igniting cautious optimism in the industry.”

"Metro markets in southern states will likely outperform others due to faster job increases, while markets in the Midwest will experience gains from being in the most affordable region,” said Lawrence Yun, the NAR’s Chief Economist.

As Americans hold tightly to their low mortgage rates, more than 90% of homeowners remain financially disincentivized from selling their homes, as it would cost more to borrow the same amount of money they owe on their current mortgage. A new study from First American dives into the situation.

Homebuyers nationwide are finding some relief entering the Thanksgiving holiday, as mortgage rates have fallen to levels last reported in late-September, garnering interest from buyers and driving up overall app volume to levels not seen in over a month.

Why did NAR Chief Economist Lawrence Yun state that "the Federal Reserve simply cannot keep raising interest rates”? Check out the latest housing market data breakdown from the Existing-Home Sales Report.

"Home sales have been stable for several months, neither rising nor falling in any meaningful way," said NAR Chief Economist Lawrence Yun.

In a new blog post, First American Chief Economist Mark Fleming explains that " “mortgage rate stability, even if the stabilization occurs at a higher level, is the key to a housing recovery.”

While total housing inventory continues to inch forward, existing-home sales retreated in July in the face of mortgage rates sitting at 7.09%.

"Just like the weather, large local market variations exist despite the minor change in the national home price," NAR Chief Economist Lawrence Yun said.