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- 2022 | 27 Posts
- April 2022 | 1 Posts
- March 2022 | 8 Posts
- February 2022 | 16 Posts
- January 2022 | 2 Posts
- 2021 | 28 Posts
- 2020 | 58 Posts
- 2019 | 55 Posts
- 2018 | 92 Posts
- 2017 | 26 Posts
9
Hot Home Trend: Curvy Furniture
2
5 Hottest Hues for the Bathroom
25
7 Popular Paint Colors for the Living Room
15
What's Hot and What's Not in Home Design
11
New Products That Complement the Latest Home Design Trends
1
How to Use Wallpaper in Unexpected Ways
1
Pending Home Sales Fall
- Setting a soft tone for the usually busy spring season, pending home sales, which measure signed contracts on existing homes, fell 4.1% in February compared with January.
- This is the fourth straight month of declines in pending sales, which are an indicator of future closings, one to two months out.
- The median monthly payment on a new mortgage is now taking up a much larger share of a typical consumer's income. It jumped 8.3% in February compared with January.
In a grim sign for the housing market's busiest season, pending home sales, which measure signed contracts on existing homes, fell 4.1% in February compared with January, according to the National Association of Realtors. Sales were down 5.4% compared with February 2021. Analysts were expecting a slight gain. This is the fourth straight month of declines in pending sales, which are an indicator of future closings, one to two months out. Since this count is based on signed contracts in February, when mortgage rates really started to take off, it is a strong indicator of how the market is reacting to the new rate environment, especially as it is entering the crucial spring season.
- CNBC, March 25, 2022
31
Home Sales See Broad Nationwide Drop
Pending home sales declined in February for the fourth month in a row, as would-be buyers grapple with fewer, pricier homes to choose from and rising interest rates. Contract signings dropped by 4.1% last month from January and were down 5.4% year over year with all four regions in the U.S. seeing a decline, according to the latest data from the National Association of Realtors. "Pending transactions diminished in February mainly due to the low number of homes for sale," said Lawrence Yun, NAR's chief economist. "Buyer demand is still intense, but it's as simple as 'one cannot buy what is not for sale.'" Yun anticipates a 7% decline in home sales this year compared to last, and forecasts that rates will hover around 4.5% to 5% for the remainder of 2022. "It is still an extremely competitive market, but fast-changing conditions regarding affordability are ahead," he said. "Consequently, home sellers cannot simply bump up prices in the upcoming months, but need to assess the changing market conditions to attract buyers."
- Fox Business, March 25, 2022
