Pending Home Sales Plunge; NAR Admits "The Housing Market Has Essentially Stalled"
Pending Home Sales Plunge; NAR Admits "The Housing Market Has Essentially Stalled" - Hallo World !!! News Today in World, In this article you read by title Pending Home Sales Plunge; NAR Admits "The Housing Market Has Essentially Stalled", We've prepared this article well so you can read and retrieve information on it. Hopefully the contents of the post
Article Salisbury News, What we write can you understand. Okay, happy reading.
Title : Pending Home Sales Plunge; NAR Admits "The Housing Market Has Essentially Stalled"
link : Pending Home Sales Plunge; NAR Admits "The Housing Market Has Essentially Stalled"
You are now reading the article Pending Home Sales Plunge; NAR Admits "The Housing Market Has Essentially Stalled" With link address https://newstoday-ok.blogspot.com/2017/09/pending-home-sales-plunge-nar-admits.html
Title : Pending Home Sales Plunge; NAR Admits "The Housing Market Has Essentially Stalled"
link : Pending Home Sales Plunge; NAR Admits "The Housing Market Has Essentially Stalled"
news-today.world | After dismal drops in existing and new home sales, this morning's pending home sales data for August was a disaster, tumbling 2.6% MoM (3.1% YoY) to its lowest SAAR since January 2016.
This is the second YoY decline in sales in a row, with SAAR tumbling to its lowest since Jan 2016..
Lawrence Yun, NAR chief economist, says this summer’s terribly low supply levels have officially drained all of the housing market’s momentum over the past year.
“August was another month of declining contract activity because of the one-two punch of limited listings and home prices rising far above incomes,” he said.
“Demand continues to overwhelm supply in most of the country, and as a result, many would-be buyers from earlier in the year are still in the market for a home, while others have perhaps decided to temporarily postpone their search.”
With little relief expected from the housing shortages that continue to plague several areas, Yun believes the housing market has essentially stalled.
More
This is the second YoY decline in sales in a row, with SAAR tumbling to its lowest since Jan 2016..
Lawrence Yun, NAR chief economist, says this summer’s terribly low supply levels have officially drained all of the housing market’s momentum over the past year.
“August was another month of declining contract activity because of the one-two punch of limited listings and home prices rising far above incomes,” he said.
“Demand continues to overwhelm supply in most of the country, and as a result, many would-be buyers from earlier in the year are still in the market for a home, while others have perhaps decided to temporarily postpone their search.”
With little relief expected from the housing shortages that continue to plague several areas, Yun believes the housing market has essentially stalled.
More
That's an article Pending Home Sales Plunge; NAR Admits "The Housing Market Has Essentially Stalled"
Fine for article Pending Home Sales Plunge; NAR Admits "The Housing Market Has Essentially Stalled" This time, hopefully can benefit for you all. Well, see you in other article postings.
You are now reading the article Pending Home Sales Plunge; NAR Admits "The Housing Market Has Essentially Stalled" With link address https://newstoday-ok.blogspot.com/2017/09/pending-home-sales-plunge-nar-admits.html