Saturday, May 31, 2025

Latest

US Pending Home Sales Drop to 6-Month Low Amid Decreasing Housing Supply

US pending home sales took a plunge in January, falling to the lowest level in six months as potential homebuyers competed for a diminishing supply of property.

According to the latest data published by the National Association of Realtors (NAR), the pending home sales index fell by 2.8% in January, to a reading of 122.8— the lowest since July 2020. The sudden decline was largely unexpected, especially since December data was revised upwards to reflect a 0.5% increase, and a Bloomberg survey of economists called for a flatline in the first month of 2021.

The latest index decline suggests that the booming US housing market may be at the beginning of a declining trend, especially amid surging home prices, low inventory levels, and increasing mortgage rates. Despite this however, contract signings still remain 8.2% higher compared to the same period a year ago. “There are simply not enough homes to match the demand on the market,” said NAR chief economist Lawrence Yun in a recent statement.


Information for this briefing was found via the NAR and Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

Justin Trudeau Tightens Mortgage Rules After BoC Warns of Housing Risks

Canada’s federal government has decided to intervene in the country’s red-hot housing market, shortly after...

Friday, May 21, 2021, 05:19:00 PM

Rising Home, Rental Costs May Force Central Banks to Raise Rates More Than Expected

When discussing the stickiness of inflation and the need for central banks to raise interest...

Tuesday, May 3, 2022, 03:41:00 PM

US Existing Home Sales Up by 10.5% From Year Prior as Prices Reach New Record

Much like the Canadian housing market appears to be immune to the economic fallout from...

Tuesday, September 22, 2020, 12:30:00 PM

Calgary Home Sales Soar by 40% to Highest Level Since 2007

As an increasing number of Canadians enter the residential real estate market amid historically-low interest...

Tuesday, January 5, 2021, 11:01:00 AM

US Home Prices Decelerate in November

US home prices continued their upward trend to finish off 2021, albeit at a slower...

Sunday, January 30, 2022, 03:43:00 PM