A Realtor for 59 years and consecutive member of NAR for 40 years, McCarey was also celebrating his 85th birthday on the day he received the award.
D’Anzica credits the Global Business Council with creating many more networking opportunities, which in turn provides more referrals and potential business.
The Midwest, South and West experienced month-over-month gains in transactions, while the Northeast decreased.
The Northeast, Midwest and West posted monthly gains in transactions while the South recorded a loss. All four U.S. regions registered year-over-year declines in transactions.
WASHINGTON—Pending home sales in November were identical to those in October, according to the National Association of Realtors. The Northeast, Midwest and West posted monthly gains in transactions while the South recorded a loss. All four U.S. regions registered year-over-year declines in transactions.
The Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—stayed at 71.6 in November. Year over year, pending transactions were down 5.2%. An index of 100 is equal to the level of contract activity in 2001. NAR released the November Pending Home Sales Index on Dec. 28.
“Although declining mortgage rates did not induce more homebuyers to submit formal contracts in November, it has sparked a surge in interest, as evidenced by a higher number of lockbox openings,” said Lawrence Yun, NAR chief economist.
The Northeast PHSI rose 0.8% from last month to 64.4, a drop of 6.4% from November 2022. The Midwest index increased 0.5% to 76.2 in November, down 2.2% from one year ago.
The South PHSI declined 2.3% to 83.2 in November, decreasing 6.5% from the prior year. The West index climbed 4.2% in November to 54.0, falling 4.9% from November 2022.
“With mortgage rates falling further in December—leading to savings of around $300 per month from the recent cyclical peak in rates—home sales will improve in 2024,” Yun added.
The Midwest, South and West experienced month-over-month gains in transactions, while the Northeast decreased.
“Home sales momentum is building,” said NAR Chief Economist Lawrence Yun.
Inventory for all property types declined in almost all areas, except for Rockland’s condo and co-op markets, the latter with an 84.6% gain. The Bronx led the region for new listings, with a 31.9% increase.
Yun noted that a key trend going forward is that for-sale inventory has been increasing of late and is expected to continue next year.
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