The National Association of Realtors is reporting that pending home sales were down 4.4% in April, 2021. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) dropped 4.4% to 106.2. However, they report that year-over-year contract signings were up 51.7%. Indeed… “Contract signings are approaching pre-pandemic levels after the big surge due to the lack of sufficient supply of affordable homes…The upper-end market is still moving sharply as inventory is more plentiful there.” Said Lawrence Yun, NAR’s chief economist Click here to read the full report at the National Association of Realtors.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
Monday, May 31st is Memorial Day. For most Americans the three-day weekend will mark the unofficial start of summer. However, the solemn significance of the day is often forgotten. It is actually a national day of remembrance for those men & women who, while wearing the uniform of this great country, paid the ultimate sacrifice defending freedom & liberty around the globe. Today’s infographic reminds us that Memorial Day is about more than just cookouts and 3-day weekends, it’s about a path paved by others to enjoy the freedoms we so often take for granted. We hope you have a…
According to the latest S&P CoreLogic Case-Shiller Indices, covering all nine U.S. census divisions, the rate of home price increases reported a 13.2% annual gain in March, 2021. Their 10-City Composite annual increase came in at 12.8% and the 20-City Composite posted a 13.3% year-over-year gain. The S&P CoreLogic Case-Shiller Home Price Indices are one of the leading measures of U.S. residential real estate prices, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions. “These data are consistent with the hypothesis that COVID has encouraged potential buyers to move from urban…
The U.S. Government is reporting that sales of new single-family houses in April, 2021 were at a seasonally adjusted annual rate of 863k, which is 5.9% lower than March’s revised rate and is 48.3% higher than one year ago. The median sales price of new houses sold in April was $372,400 with an average sales price of $435,400. There were an estimated 316k new houses for sale at the end of March representing a 4.4-month supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.
They’re back….Last year, due to the pandemic, AAA declined to issue their annual Memorial Day travel forecast for the first time in decades. Now, fast-forward one year, the pandemic is winding down (hopefully) and AAA is back with their prediction that over 37 million Americans will travel this Memorial Day Weekend. However, they do point that there will be nearly 6 million fewer travelers than pre-pandemic. Indeed… “As more people get the COVID-19 vaccine and consumer confidence grows, Americans are demonstrating a strong desire to travel this Memorial Day…This pent-up demand will result in a significant increase in Memorial Day…
A new report from ATTOM Data Solutions says that median home prices increased from Q1 2020 to the first Q1 2021 in 75% of Opportunity Zones and rose by at least 10% in nearly to two-thirds of them. ATTOM says those percentages roughly tracked trends in areas of the U.S. outside of Opportunity Zones, continuing patterns from the fourth quarter of last year. However, they also point out that home prices in Opportunity Zones continued to lag far behind the national average in Q1. Around 43% of zones had median prices of less than $150,000. “Some of the country’s poorest…
Black Knight is reporting that forbearance volumes rose by 16k (+0.74%), in May, which they say is only the second increase over the past 12 weeks. As of May 18, 2021 there were 2.18 million (4.1% of homeowners) mortgages remaining in COVID-19-related forbearance plans. However they do point out that nearly 190k plans are still listed with May 2021 expiration dates. “Plan starts were driven up this week thanks mostly to an increase in restart activity, which was expected for the middle of the month and amidst the large volume of removals we’ve seen in recent months. Removals also fell…
Winning…..For the 8th year in a row, Gallup is reporting that more Americans prefer real estate over other long-term investment vehicles for growing wealth. When broken down, the numbers show that 41% prefer real estate (up 6 points from 2020), 26% prefer the stock market, 18% prefer gold, 9% prefer CDs/bank accounts, and 3% prefer bonds. Click here to read the full report at Gallup.com.
The National Association of Realtors is reporting that existing home sales were down 2.7% in April to a seasonally-adjusted annual rate of 5.851 million (up 33.9% from one year ago). Total housing inventory at the end of April was 1.16 million units, down 20.5% from one year ago. Unsold inventory sits at a 2.4-month supply at the current sales pace with properties remaining on the market for around 17 days. The median existing-home price for all housing types was $341,600, up 19.1% from April, 2020. Once again, there just aren’t enough homes for sale out there to meet demand. “Home…
Today’s image from infographicsarchive.com, quite frankly, nails it. America is a rich country because we are free. They point out that the average American has more than one car, air conditioning, and eats out several times a week (pandemic aside). Take a look at the necessary building blocks mentioned below….And, as always, stay safe (the light at the end of the tunnel is getting nearer by the day) and have a Happy Friday!!! “Today, the average American has more than one car, has air conditioning, and eats out several times a week. There’s no doubt that, on average, Americans are…
