Market
NAR: U.S. Pending Home Sales Fell 5.5% in December; Declined 8.1% in Northeast
Contract activity fell more sharply in the high-priced regions of the Northeast and West, where elevated mortgage rates have appreciably cut affordability.
NAR: U.S. Existing-Home Sales Rose 2.2% in December; Northeast Sales Climbed Nearly 4% Despite High Rates
U.S. Existing-Home Sales Rose 2.2% in December
U.S. Pending Home Sales Rose 2.2% in November, Northeast Pending Sales Fell 1.3% From October
The Midwest, South and West experienced month-over-month gains in transactions, while the Northeast decreased.
NAR: Northeast Existing-Home Sales Spiked by 8.5% in November; Prices Rose Nearly 10%
“Home sales momentum is building,” said NAR Chief Economist Lawrence Yun.
November Single-Family Home Sales Increased in Half of the Lower Hudson Valley Region
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.
NAR, Realtor.com. Builders, Mortgage Bankers Economists Expect Home Sales, Rates Will Improve in 2025
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.
U.S. Pending Home Sales Climbed 2.0% in October; Northeast Leads Way With 4.7% Increase
“Homebuying momentum is building after nearly two years of suppressed home sales,” said NAR Chief Economist Lawrence Yun.
U.S. Existing-Home Sales Grew 3.4% in October; First Year-Over-Year Gain Since July 2021
“The worst of the downturn in home sales could be over, with increasing inventory leading to more transactions,” said NAR Chief Economist Lawrence Yun.
HGAR: October Single-Family Homes Sales Rose in All Lower Hudson Valley Regions
That fact that both sales and home prices continue to increase is an indication of the high demand and low supply that exists throughout the New York metro area and lower Hudson Valley,” said HGAR CEO Lynda Fernandez.
OneKey MLS: Regional Home Prices Posted a Steady Yearly Increase in October, But a Cooldown on a Monthly Basis
In October, the regional single-family closed median sale price was $706,000, marking an 8.6% year-over-year increase from $650,000 in October 2023.
NAR: Almost 90% of Metro Areas Posted Home Price Increases in Third Quarter of 2024
Housing affordability has been a challenge, but the worst appears to be over,”
NAR: September Pending Home Sales Rose by the Highest Level Since March
The Northeast PHSI expanded 6.5% from last month to 65.6, up 3.3% from September 2023.