Pending home sales cool in January.

NATIONAL ASSOCIATION OF REALTOR’S
This article confirms my data and statistics from my BLOG’s since early 2015.  This does not include the Millennials. I want it clear the trend for 55 and older is specifically reflected in my blogs.
WASHINGTON – Feb. 29, 2016 – According to the National Association of Realtors® (NAR), pending home sales in January declined month-to-month but rose year-to-year. Only the South saw an uptick in contract activity.

NAR’s Pending Home Sales Index – a forward-looking indicator based on contract signings – declined 2.5 percent to 106.0 in January from an upwardly revised 108.7 in December. However, year-to-year it’s 1.4 percent above January 2015 (104.5). Although the index has increased year-over-year for 17 consecutive months, last month’s annual gain was the second smallest (September 2014, 1.2 percent) over that time.

A myriad of reasons likely contributed to January contract signings subsiding in most of the country, says NAR Chief Economist Lawrence Yun.

“While January’s blizzard possibly caused some of the pullback in the Northeast, the recent acceleration in home prices and minimal inventory throughout the country appears to be the primary obstacle holding back would-be buyers,” Yun says. “Additionally, some buyers could be waiting for a hike in listings come springtime.”

Existing-home sales increased last month and were considerably higher than the start of 2015, but price growth quickened to 8.2 percent – the largest annual gain since April 2015 (8.5 percent).

While Yun hopes that appreciating home values will start to entice more homeowners to sell, Yun says supply and affordability conditions won’t meaningfully improve until homebuilders start ramping up production – especially of homes at lower price points.

NAR forecasts that existing-home sales this year will be around 5.38 million, an increase of 2.5 percent from 2015. The national median existing-home price for all of this year is expected to increase between 4 and 5 percent. In 2015, existing-home sales increased 6.3 percent and prices rose 6.8 percent.

Pending sales in the Northeast declined 3.2 percent to 94.5 in January, but it’s still 10.9 percent above a year ago. In the Midwest, the index fell 4.9 percent to 101.1 in January, but it’s still 1.4 percent above January 2015.

Pending home sales in the South inched up 0.3 percent to an index of 121.1 in January but remain 1.3 percent lower than last January. The index in the West decreased 4.5 percent in January to 96.5, but it’s 0.4 percent above a year ago.

© 2016 Florida Realtors®

Author: danswingblog

Welcome to my Blog site. I don't provide this information to boast, I humbly provide this, so you are informed of my qualities and experience. Since the first of 2017 Dans averaged close to $1,000,000 in sales monthly. Dans accomplishments lend wisdom and credibility that I'm proud of. An informed understanding of who you elect to represent you is as important as the investment you hold in your hands. Dan has celebrated over 17 years as a full time Realtor. Successfully listed and sold homes well through the 7 figure market. Advises and assists clients with challenging Portfolios! Not uncommon to be working with foreign nationals, buyers that leverage the Sterling, Euro, and similar currency. Dan welcomes the Global community, with friends in many Nations. He brings a reputation of Integrity, Expertise, and Focus. Our customers deserve the best. Currently a "FULL TIME" Realtor listing and selling homes in Tampa Bay Golf and Country Club and provides B.P.O.'s, Broker Price Opinions, B.O.V's, Broker Opinion of Value to many lenders. Manage and Sells R.E.O., Real Estate Owned properties, distressed properties! Evaluate and negotiate solutions for sellers and lenders. Developed, operated and sold a Florida "AWARD WINNING" Ad Agency! 2010 & 11 Commercial Agent of the year. RE/MAX Paramount Properties. Relocated to RE/MAX Marketing Specialist in January 2012. Successfully closed on many extremely challenging foreclosures, and Short Sale. Coached and participated in Commercial and Multi-Income Family REO's in the past six years. Received license in 2000, took the class to sell his own properties, coerced by instructor to pursue an active license. Assist residential and commercial brokers, investors and individuals with real estate needs. Elected to the Auburndale City Commission in 1986-88. Created and served as 1st Redevelopment Chair in 1988 & 89 personally put in place all the elements for the Auburndale CRA. 1990 City Commission refused to give a full vote of confidence. After a 5 year journey to personally raise funding, extensive research and study for the CRA district perimeters, and stunned with the Commissions doubt. Positioned himself to run for office again, was re-elected to Auburndale Commission, to serve 1991-93 to full fill the CRA master plan! Active with the Central Florida Development Council from conception in 1985 and sat on the board periodically for the past 25 years representing municipalities and private investors. The positions Dan held from 1986 through 1993 enabled him to have a complete workable understanding of the State of Florida Comprehensive Plan for Future Land Use, and the benefits of intergovernmental agreements, utility franchise expansions, and public/private partnerships! Specialties: Assets recovery & receivership, Real Estate Portfolio's, REO & Short Sale of Residential and Commercial negotiations, marketing consultant, public relations, and Broker Price Opinions for residential and commercial lenders.

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