Associated tags: National Association, Real estate agent, National Association of Realtors, NAR, Real estate, Housing, News, Newsroom, Table
Locations: WASHINGTON, DC, US, CHICAGO, SELLERS
Compared to one year ago, pending home sales declined in the Northeast and South while the Midwest and West improved.
Key Points:
- Compared to one year ago, pending home sales declined in the Northeast and South while the Midwest and West improved.
- Pending home sales in March climbed 3.4%, according to the National Association of Realtors®.
- The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – increased to 78.2 in March.
- “Job gains, steady mortgage rates and the release of inventory from pent-up home sellers will lead to more sales,” explained Yun.
Among the four major U.S. regions, sales slid in the Midwest, South and West, but rose in the Northeast for the first time since November 2023.
Key Points:
- Among the four major U.S. regions, sales slid in the Midwest, South and West, but rose in the Northeast for the first time since November 2023.
- First-time buyers were responsible for 32% of sales in March, up from 26% in February and 28% in March 2023.
- Distressed sales[5] – foreclosures and short sales – represented 2% of sales in March, virtually unchanged from last month and the prior year.
- Existing-home sales in the Northeast climbed 4.2% from February to an annual rate of 500,000 in March, ending a four-month streak where sales in the Northeast registered 480,000 units.
Retrieved on:
Wednesday, April 17, 2024
Chicago, April 17, 2024 (GLOBE NEWSWIRE) -- Second Century Ventures, the strategic investment arm of the National Association of Realtors® and the most active global real estate technology fund, today announced the acceptance of eight companies to the 2024 REACH program.
Key Points:
- Chicago, April 17, 2024 (GLOBE NEWSWIRE) -- Second Century Ventures, the strategic investment arm of the National Association of Realtors® and the most active global real estate technology fund, today announced the acceptance of eight companies to the 2024 REACH program.
- “Through the REACH scale-up program, we’re catalyzing transformative advancements at the intersection of technology and real estate,” said Mark Birschbach, NAR’s senior vice president, strategic business innovation and technology.
- “The eight companies selected for the 2024 REACH program are at the forefront of the industry’s greatest challenges and opportunities,” said Ashley Stinton, managing partner, NAR REACH.
- “These companies are poised to significantly advance the real estate landscape in the year ahead and for many to come,” said Dave Garland, managing partner, Second Century Ventures.
Silent Generation,
Millennials,
Generation,
Research,
NAR,
Generation Z,
Sale,
Woman,
Generator,
Housing,
Retirement,
Dream,
Clutch (eggs),
National Association,
Gen,
Real estate Millennials have surged ahead to become the largest group of home buyers, marking a significant shift in the housing market’s demographic landscape, according to the latest report from the National Association of Realtors®.
Key Points:
- Millennials have surged ahead to become the largest group of home buyers, marking a significant shift in the housing market’s demographic landscape, according to the latest report from the National Association of Realtors®.
- “The generational tug-of-war between millennials and baby boomers continued this year, with millennials rebounding to capture the largest share of home buyers,” said Dr. Jessica Lautz, NAR deputy chief economist and vice president of research.
- Leading the charge were younger millennials, whose proportion of first-time buyers increased from 70% to 75% over the past year.
- Forty-four percent of older millennials and 24% of Generation X (ages 44-58) were first-time buyers.
Month over month, contract signings climbed in the Midwest and South but sank in the Northeast and West.
Key Points:
- Month over month, contract signings climbed in the Midwest and South but sank in the Northeast and West.
- Compared to one year ago, pending home sales declined in all U.S. regions.
- Pending home sales in February grew 1.6%, according to the National Association of Realtors®.
- The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – increased to 75.6 in February.
Existing-home sales surged 9.5% in February to a seasonally adjusted annual rate of 4.38 million, the largest monthly increase since February 2023.
Key Points:
- Existing-home sales surged 9.5% in February to a seasonally adjusted annual rate of 4.38 million, the largest monthly increase since February 2023.
- The median existing-home sales price elevated 5.7% from February 2023 to $384,500 – the eighth consecutive month of year-over-year price gains.
- Among the four major U.S. regions, sales jumped in the West, South and Midwest, and were unchanged in the Northeast.
- Distressed sales[5] – foreclosures and short sales – represented 3% of sales in February, virtually unchanged from last month and the previous year.
Retrieved on:
Thursday, February 29, 2024
Month over month, contract signings rose in the Northeast and West but fell in the Midwest and South.
Key Points:
- Month over month, contract signings rose in the Northeast and West but fell in the Midwest and South.
- Compared to one year ago, pending home sales declined in all U.S. regions.
- Pending home sales in January dropped 4.9%, according to the National Association of Realtors®.
- The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – decreased to 74.3 in January.
Retrieved on:
Thursday, February 22, 2024
The median existing-home sales price climbed 5.1% from January 2023 to $379,100 – the seventh consecutive month of year-over-year price gains.
Key Points:
- The median existing-home sales price climbed 5.1% from January 2023 to $379,100 – the seventh consecutive month of year-over-year price gains.
- Among the four major U.S. regions, sales accelerated in the Midwest, South and West, and remained steady in the Northeast.
- Distressed sales[5] – foreclosures and short sales – represented 2% of sales in January, virtually unchanged from last month and the previous year.
- Existing-home sales in the South rose 4.0% from December to an annual rate of 1.84 million in January, a decline of 1.6% from the previous year.
Retrieved on:
Tuesday, February 20, 2024
Hispanic and Latino Americans,
National Association,
American Dream,
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Asian Americans,
Friends,
Parent,
Government,
Home,
Policy,
NAR,
White Americans,
African Americans,
Housing,
Real estate While homeownership rates improved across all racial and ethnic groups over the past decade, the homeownership rate among Black individuals continues to trail at 44.1%.
Key Points:
- While homeownership rates improved across all racial and ethnic groups over the past decade, the homeownership rate among Black individuals continues to trail at 44.1%.
- Homeownership rates for racial minorities increased in 2022, with Asian and Hispanic Americans achieving historic peaks.
- Despite these advancements, disparities persist among racial and ethnic groups, notably with Black homeownership lagging.
- Despite fast-rising mortgage rates, minority groups saw increased homeownership rates in 2022.
Retrieved on:
Thursday, February 8, 2024
Single-family existing-home sales prices climbed in 86% of measured metro areas – 189 of 221 – in the fourth quarter, up from 82% in the previous quarter.
Key Points:
- Single-family existing-home sales prices climbed in 86% of measured metro areas – 189 of 221 – in the fourth quarter, up from 82% in the previous quarter.
- Fifteen percent of the 221 tracked metro areas experienced double-digit price gains over the same period, up from 11% in the third quarter.
- Among the major U.S. regions, the South posted the largest share of single-family existing-home sales (45%) in the fourth quarter, with year-over-year price appreciation of 3.2%.
- Less than one-fifth of markets (14%; 32 of 221) experienced home price declines in the fourth quarter, down from 17% in the third quarter.
