Tag Archives: Home Sales

New Single Family Home Sales Jump 14.1 Percent Vs A Year Ago in May 2018, Median Price Down 3.3 Percent to $313,000

New single family residential (SFR) home sales of 689,000 on seasonally adjusted annualized rate (SAAR) were up 14.1 percent versus a year ago and 6.7 percent sequentially from April.   Other than the 712,000 SAAR rate posted in November 2017, this is the greatest level seen since October 2007.  Year-to-date new home sales are up 8.8 …Read more

Existing Home Sales Down 1.39 Percent Year-To-Date in May 2018, Median Price Jumps 4.9 Percent in Past 12-Months

Tight inventories of listings for sale and rising residential mortgage interest rates and home values continued to deflect existing home sales in May 2018 as reported by the National Association of Realtors® (NAR).   Actual sales in May 2018 of 536,000 compared to 555,000 a year ago were down 3.4 percent, but sales year-to-date dipped just …Read more

Purchase & Refinance Lending Forecast April 2018

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.  Driving these lending forecasts is  the expectation of future interest rates.  As the following table shows, there is not perfect …Read more

March 2018 Existing Home Sales Down 1.2 Percent Vs a Year Ago — Median Price Up 5.8 Percent to $250,400 Driven By Minimal Inventory and Strong Demand

Existing home sales came in at  5.60 million dwelling units on a seasonally adjusted annualized rate (SAAR) in March 2018, down 1.2 percent versus a year ago but up 1.1 percent sequentially compared to February 2018, according to the National Association of Realtors® (NAR).   On a raw unadjusted basis, sales totaled 434,000 in March 2018 …Read more

Existing Home Sales Ratcheted Up 1.1 Percent Vs a Year Ago in February 2018, Reversing a Miss in January — Despite Shrinking Inventory

Sales of existing homes ratcheted up 1.1 percent in February 2018 compared to a year ago, hitting a seasonally adjusted annualized sales rate (SAAR) of 5.54 million homes according to the National Association of Realtors® (NAR).  On a raw unadjusted basis, home sales of 319,000 in February 2018 were up from 315,000 a year ago, …Read more

Another Top-10 List — Where Millennials are Buying Homes

Contrary to popular opinion, Millennials are buying homes today and the rate of homeownership among the demographic is going no place but up in the long run as they age.  Since 2016, Millennials have been the top homebuyer demographic cohort in the U.S. according to the National Association of Realtors® (NAR).  In the latter half …Read more