Category Archives: Jones on Real Estate

Residential Purchase Lending Volume Forecast August 2017

As stated last month: As we economists say, “forecasting is difficult, especially the future.”   Fortunately, Fannie Mae, Freddie Mac and the MBA update their quarterly and annual forecasts monthly for residential lending volumes –  both refinance and purchase transactions.  The forecasts typically span a three-year period, currently from 2016 to 2018.  The lagging year (2016 …Read more

New Home Sales Wilt in the Heat of Summer in July 2017

New home sales unexpectedly fell 8.9 percent on a year-over-year basis in July 2017, now at an estimated 571,000 unit sales pace on a seasonally adjusted annualized rate (SAAR).  Sales dropped 9.4 percent sequentially from June’s 630,000 pace (SAAR).  Median new-home price was $313,700, up 6.3 percent versus the same month a year ago while …Read more

Existing Home Sales Up 2.1 Percent Year-Over-Year in July 2017 but Slip 1.3 Percent Sequentially from June

Existing home sales rose 2.1 percent year-over-year to 5.44 million on a seasonally adjusted annualized rate (SAAR) but fell 1.3 percent sequentially from June according to the National Association of Realtors® (NAR).   Raw monthly home sales in July 2017 (not seasonally adjusted), at 513,000 single family, townhouse, condominium and co-op closings were unchanged from a …Read more