Tag Archives: Existing-homes

“These high interest rates have had a great impact on the U.S.’ overall economic performance,” said National Association of Realtors Chief Economist Lawrence Yun. “Statistically, this is much better than the historical average, but if we look at this component, there are some worrying signs in the economy.”

"The small gain in contract signings shows the potential for further increases in light of the fact that many people have lost out on multiple home buying offers," said NAR Chief Economist Lawrence Yun.

Overall housing inventory dropped 15% year-over-year in June, remaining at an all-time low. A new market report from Redfin revealed that homebuyers are turning to new builds as many homeowners continue clinging to their low existing mortgage rates, contributing to the ongoing lack of supply.

According to said NAR Chief Economist Lawrence Yun, “Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates, which climbed at one of the fastest paces on record this year, drastically cut into the number of contract signings to buy a home.”

NAR reports that pending home sales rose in October, with buyers fearing a spike in rates took advantage of the limited supply available.

Existing home sales saw a decline in June, while new home sales increased. Here's what's driving the shifts?

February saw some strong gains in the existing home market. Find out how things shaped up in March.

What were the factors that reversed a six-month trend of declining sales for existing homes? Here’s what the latest data revealed.

While inventory is leveling out, a new report indicated that existing home sales remained steady after several months of decline. Experts weigh in on how first-time homebuyers have been affected by this trend.

There’s a persisting gap between actual existing home sales and their potential in an otherwise robust housing market, according to a report. Here are the factors responsible for the gap and ways to bridge it.