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NAR: Existing Home Sales Up 5.9 Percent In October
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NAR: Existing Home Sales Up 5.9 Percent In October

In the Press, Markets, Mortgage Rates, Real Estate

NAR: Existing Home Sales Up 5.9 Percent In October

Existing home sales increased 5.9 percent year-over-year in October. Numbers from the National Association of Realtors put existing home sales for October at a seasonally adjusted annual rate of 5.60 million in October, a two percent increase from the previous month. This is welcome news from NAR, but it is also important to remember that this was before the spike in mortgage rates we have seen during the last month. "The good news is that the tightening labor market is beginning to push up wages and the economy has lately shown signs of greater expansion. [...]

By Aaron Layman|2016-11-22T21:30:36+00:00November 22nd, 2016|In the Press, Markets, Mortgage Rates, Real Estate|0 Comments

NAR: Existing Home Sales Fizzle In February As Affordability Evaporates

The National Association of Realtors reported that existing home sales fizzled in Februrary, falling to a seasonally adjusted annual rate of 5.08 million. This was a sharp decline from January numbers but 2 percent higher than a year ago. NAR's chief economist, Lawrence Yun, mentioned the stock market, poor weather on the East coast, as well as supply and affordability issues. At least he got one of the four correct! The real problem surrounding the U.S. real estate market is a lack of affordability. Home prices have been levitated back to the previous bubble levels [...]