Pending home sales drop 1% in February, despite lower mortgage rates

  • 📰 CNBC
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Property Property Headlines News

Property Property Latest News,Property Property Headlines

The supply of homes for sale has been rising steadily, up just over 3 percent in February compared with a year ago. Home prices are still rising, but the gains have been shrinking each month for nearly a year.

Homebuyers signed 1 percent fewer contracts to buy existing homes in February compared with January, according to the National Association of Realtors' pending home sales index.

Yun pointed to some sales growth in the West, although the region's current sales are well below the sales activity from 2018. Closed sales of existing homes jumped nearly 12 percent month-to-month in February, also a reaction to the drop in mortgage rates at the end of the year. It may also have been simply due to more supply on the market and a cooling in home prices. Closed sales were still lower compared with a year ago.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

住宅販売数が低下しても高価格帯が売れていればOK。低価格帯の住宅が在庫不足なだけでスグに景気低迷入りとはならない。

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in PROPERTY

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Weekly mortgage applications surge nearly 9% on lower ratesApplications to refinance jumped 12 percent for the week as homeowners rushed to take advantage of attractive rates. He do i
Source: CNBC - 🏆 12. / 72 Read more »

Mortgage rates just tanked thanks to the Fed – and they could go even lowerThe average rate on the popular 30-year fixed rate mortgage, which had been sitting for days at 4.40 percent, fell sharply to 4.34 percent. I'm shocked this headline isn't about President Trump... The Democrats are totally against a housing rebound. This could ruin their hopes for an election year recession. Buy home builders PHM, TOL.
Source: CNBC - 🏆 12. / 72 Read more »

Mortgage rates are breaking to new lower territory, and they could stay there for monthsThe average rate on the 30-year fixed mortgage is falling again today, as investors rush into the bond market. Mortgage rates loosely follow the yield on the 10-year Treasury. Lower rates area already igniting home buying.
Source: CNBC - 🏆 12. / 72 Read more »

Existing-home sales roar back in February, hitting an 11-month highSales of previously-owned homes surged back, leaving forecasts in the dust, reaffirming strong demand for housing amid familiar headwinds.
Source: MarketWatch - 🏆 3. / 97 Read more »

Existing-home sales roar back in February, touching an 11-month highSales of previously-owned homes surged back, leaving forecasts in the dust, reaffirming strong demand for housing amid familiar headwinds.
Source: MarketWatch - 🏆 3. / 97 Read more »

Southern California home sales slowdown deepened in February; agents see busier times aheadSouthern California home prices barely rose in February from a year earlier, as buyers continue to struggle with the high cost of housing, according to a report out Wednesday. 3yrRentFreeze Shocker...................... Looking more and more like it's that time of the cycle once again.
Source: latimes - 🏆 11. / 82 Read more »

Home sales make record jump, proving how sensitive buyers are to interest ratesSales of existing homes skyrocketed a whopping 11.8 percent in February compared with January, according to the National Association of Realtors. How did we survive- 17-20% interest rates in the 70’s, 80’s.?
Source: CNBC - 🏆 12. / 72 Read more »

US average mortgage rates fall; 30-year at 4.28 percentMy daughter is selling her house in Phoenix she'll be thrilled... Basically the same set as 10 years ago. People will frantically buy houses they can’t afford with mortgages they can’t pay back.
Source: ABC - 🏆 471. / 51 Read more »

Mortgage rates are in a free fall with no end in sightThe 30-year fixed-rate average continued its downward path, dropping to 4.31 percent. so...houses these days are free if you wait long enough.
Source: washingtonpost - 🏆 95. / 72 Read more »