Followers | 111 |
Posts | 6213 |
Boards Moderated | 0 |
Alias Born | 05/08/2007 |
Friday, January 28, 2022 2:11:02 PM
https://www.breitbart.com/economy/2022/01/27/pending-home-sales-shock-with-6-9-collapse/
Pending home sales defied predictions of a rebound at year-end, falling by 3.9 percent compared with a downwardly revised November estimate, data from the National Association of Realtors showed Thursday.
Compared with a year ago, pending home sales fell 6.9 percent. Sales were down by 10 percent or more in both the Northeast and the West. Sales fell in the Midwest and the South, as well.
The downturn largely reflects an extremely low supply of homes for sale, according to NAR economist Lawrence Yun.
“Pending home sales faded toward the end of 2021, as a diminished housing supply offered consumers very few options,” Yun said. “Mortgage rates have climbed steadily the last several weeks, which unfortunately will ultimately push aside marginal buyers.”
Home sales are expected to contract further this year. Sales are forecast to be down by three percent in 2022 compared with last year, according to Yun.
I can only provide my own speculation and theories. Everything I post is my own opinion. DO YOUR OWN DD!
Recent Z News
- Zillow Group Reports First-Quarter 2024 Financial Results • PR Newswire (US) • 05/01/2024 08:05:00 PM
- BIPOC renters hit hardest by high rent costs • PR Newswire (US) • 04/29/2024 12:00:00 PM
- Across 26 US metros, majority of people say they have experienced housing discrimination • PR Newswire (US) • 04/25/2024 12:00:00 PM
- Showcase listings on Zillow are more than just cutting-edge -- featured homes sell faster and for more money • PR Newswire (US) • 04/16/2024 01:00:00 PM
- Home values rising fastest in costliest metros • PR Newswire (US) • 04/15/2024 12:00:00 PM
- Zillow Group to Announce First-Quarter 2024 Results May 1 • PR Newswire (US) • 04/08/2024 08:05:00 PM
- Boomers in Pittsburgh are least likely to be locked-in by mortgage rates, among major metros • PR Newswire (US) • 04/08/2024 12:00:00 PM
- Zillow names this year's best markets for first-time home buyers • PR Newswire (US) • 04/04/2024 12:00:00 PM
- The US has a record-high 550 'million-dollar' cities • PR Newswire (US) • 04/02/2024 12:07:00 PM
- Tricked-out backyards can help homes sell for $10,000 more • PR Newswire (US) • 03/21/2024 12:00:00 PM
- Concessions cool as spring rental season approaches • PR Newswire (US) • 03/20/2024 12:00:00 PM
- Influx of sellers arrives just in time for spring season • PR Newswire (US) • 03/14/2024 12:00:00 PM
- Homes listed for sale in early June sell for $7,700 more • PR Newswire (US) • 03/07/2024 01:00:00 PM
- Realtor.com® and Zillow Ink New Rental Listings Syndication Agreement • PR Newswire (US) • 03/05/2024 09:30:00 PM
- Home buyers need to earn $47,000 more than in 2020 • PR Newswire (US) • 02/29/2024 01:03:00 PM
- Zillow Group CFO to Present at 2024 Morgan Stanley Technology, Media & Telecom Conference • PR Newswire (US) • 02/28/2024 09:05:00 PM
- Gap between Black and white renting families who could afford a mortgage narrowed significantly during the pandemic • PR Newswire (US) • 02/23/2024 01:00:00 PM
- Home shopping early may pay off as price cuts abound • PR Newswire (US) • 02/14/2024 01:00:00 PM
- Zillow Group Reports Fourth-Quarter and Full-Year 2023 Financial Results • PR Newswire (US) • 02/13/2024 09:05:00 PM
- Renting alone? The 'singles tax' now exceeds $7,000 • PR Newswire (US) • 02/12/2024 01:00:00 PM
- Top 10 states to which Gen Zers are moving (and the states they are leaving) • PR Newswire (US) • 02/09/2024 01:00:00 PM
- Zillow expands rental marketplace with room listings, offering more affordable and flexible options • PR Newswire (US) • 02/08/2024 01:00:00 PM
- Home is where the heart is: 42% of recent home buyers find love after moving • PR Newswire (US) • 02/06/2024 01:00:00 PM
- Experience the future of home tours with Zillow Immerse on Apple Vision Pro • PR Newswire (US) • 02/01/2024 02:00:00 PM
- Travis Kelce is the football player Americans most want as their neighbor • PR Newswire (US) • 01/30/2024 01:00:00 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM