residential real estate

Pending Home Sales Second Highest Level in a Decade

The National Association of Realtors Pending Home Sales just jumped to the second highest level in a decade and the highest level in nearly a year.  Pending home sales increased 5.5% in a month to an index level of 112.3.  In May 2006, the index was 112.5 and from a year ago, the figure is up 2.6%.  Last April saw a pending home sales index of 113.6.


New Home Sales Blow Through The Roof

The April 2016 New Residential Single Family Home Sales increased by an astounding 16.6% from March.  The monthly gain is also unusually outside the ±15.4% margin of error.  Monthly sales increased by 88,000 annualized units to 619,000 for the month.  This is the highest monthly percentage gain in 24 years and new home sales are now at an eight year high.  Sales were 545,000 a year ago.

Case-Shiller Shows Still Strong Annual Housing Price Gains

The February 2016 S&P Case Shiller home price index shows a seasonally adjusted 5.4% price increase from a year ago for the 20 metropolitan housing markets and a 4.6% yearly price increase in the top 10 housing markets.  Home prices are still climbing over double the rate of inflation, although this is a slower pace than last month.

New Home Sales Down -6.1% From a Year Ago

The February 2016 New Residential Single Family Home Sales increased by 2.0%.  Don't get too excited as the ±18.8% error margin is way larger than the actual monthly gain.  Monthly sales increased by 10,000 annualized units to 512,000 for the month.  Annual sales have contracted by -6.1%.  Sales were 545,000 a year ago.  The annual -6.1% sales change has a ±17.9% error margin.