January 2021 Headline Pending Home Sales Significantly Decline econintersect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econintersect.com Daily Mail and Mail on Sunday newspapers.
December 2020 Headline Pending Home Sales Decline Again
The National Association of Realtors (NAR) seasonally adjusted pending home sales index declined. Our analysis shows improvement this month. The quote of the day from this NAR release:
. Despite dropping slightly in the last month of 2020, the latest pending home sales registered as the highest ever recorded in the month of December
Analyst Opinion of Pending Home Sales
So far, the recovery is well beyond my expectations of a lackluster recovery. It is almost like the pandemic never happened. However, the inventory remains too low to support much further acceleration of growth.
Pending home sales are based on contract signings, and existing home sales are based on the execution of the contract (contract closing).
NAR Chief Economist, Lawrence Yun (PRNewsfoto/National Association of Realtors)
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https://www.nar.realtor/existing-home-sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.7% from November to a seasonally-adjusted annual rate of 6.76 million in December. Sales in total rose year-over-year, up 22.2% from a year ago (5.53 million in December 2019). Home sales rose in December, and for 2020 as a whole, we saw sales perform at their highest levels since 2006, despite the pandemic, said Lawrence Yun, NAR s chief economist. What s even better is that this momentum is likely to carry into the new year, with more buyers expected to enter the market.
Liberal Party of Australia
“Valley of death” was the grim assessment for the residential construction industry by Master Builders Australia chief executive Denita Wawn, as she assessed the impact on demand caused by the pandemic early last year.
The shockwave of the pandemic hit every corner of an industry that every year generates more than $100bn, or about 5 per cent, of our annual economic output, while supporting the jobs of more than one million Australians.
This impact followed the understandable reaction of many homebuyers who pulled back from building a new home or undertaking a renovation in the uncertain early days of COVID.
November 2020 Headline Pending Home Sales Slide
The National Association of Realtors (NAR) seasonally adjusted pending home sales index declined. Our analysis also shows slowing this month. The quote of the day from this NAR release:
. [the] decline is largely due to the shortage of inventory and fast-rising home prices
Analyst Opinion of Pending Home Sales
So far, the recovery is well beyond my expectations of a lackluster recovery. It is almost like the pandemic never happened. However, the inventory remains too low to support much further acceleration of growth.
Pending home sales are based on contract signings, and existing home sales are based on the execution of the contract (contract closing).