Pending Sales Slow But Inventory Improves

Dated: 02/19/2019

Views: 7

The National Association of Realtors' Pending Home Sales Index measures the number of contracts signed to buy homes during a given month. Since it measures signings, and not closings, it can be an important indicator of future home sales. In December, the index fell 2.2 percent from the month before.

But, Lawrence Yun, NAR's chief economist, sees some encouraging signs amid the end-of-the-year slowdown. “The longer-term growth potential is high,” Yun says. “The Federal Reserve announced a change in its stance on monetary policy. Rather than four rate hikes, there will likely be only one increase or even no increase at all. This has already spurred a noticeable fall in the 30-year, fixed-rate for mortgages. As a result, the forecast for home transactions has greatly improved.”

In addition to good news about rates, there is also an increasing number of homes for sale. And, since more available inventory helps keep prices down, that's good for home buyers. Cities in the West saw the largest increase in active listings year-over-year, with Denver-Aurora-Lakewood, Seattle-Tacoma-Bellevue, San Francisco-Oakland-Hayward, San Diego-Carlsbad, and Portland-Vancouver-Hillsboro seeing the biggest improvements compared to the year before. 

[ Resource: https://www.nar.realtor/newsroom/pending-home-sales-dip-2-2-percent-in-december ]

Blog author image

Ehren Alessi

Resolution Realty is the Top Rated real estate brokerage in Las Vegas! Whether you are looking to sell your home, buy your dream home, or invest in Las Vegas Real Estate; we have the best real estate ....

Latest Blog Posts

What Are Experts Saying About the Rest of 2020?

How about some good news?!One of the biggest questions on everyone’s minds these days is: What’s going to happen to the housing market in the second half of the year? Based on

Read More

Want to Make a Move? Homeowner Equity is Growing Year-Over-Year

One of the bright spots of the 2020 real estate market is the growth in equity homeowners are experiencing across the country. According to the recently released Homeowner Equity Insights&

Read More

Is the Economic Recovery Already Underway?

Is the Economic Recovery Already Underway?The Wall Street Journal just released their latest monthly Survey of Economists. In an article on the findings, they reported:;

Read More

First-Time Homebuyer? Here Is How You Can Get Started

First-Time Homebuyer? Here’s Help Getting StartedCall 702.217.1680Buying a home is always an exciting process, but naturally it can be a bit overwhelming. And when you’re a first time

Read More