Stacie Hartman

The Mortgage Blog of Stacie Hartman

Pending Home Sales Slip In September

The National Association of Realtors’ Pending Home Sales Index dipped 1.8 percent based on signed contracts in September. The drop follows two month of gains and puts the index 24.9 percent below last year’s levels, when first-time buyers were rushing to take advantage of the tax credit before its initial deadline last November. Lawrence Yun, NAR’s chief economist, said the foreclosure moratorium is likely to cause some disruption in sales numbers but he believes there will be a surge of pent-up demand once the banks resolve their issues. More here and here.

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Pending Home Sales Jump 4.3 Percent In August

The National Association of Realtors’ Pending Home Sales Index, an indicator of future existing-home sales, rose 4.3 percent in August. Lawrence Yun, NAR’s chief economist, said the data is consistent with a gradual improvement in sales over the next few months. Affordability and low mortgage rates appear to be bringing buyers back to the market, Yun said. Pending sales were strongest in the South, where they were up 6.7 percent, and the West, where they rose 6.4 percent. More here and here.

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Pending Home Sales Rise Unexpectedly

The National Association of Realtors’ Pending Home Sales Index rose 5.2 percent in July but is still 19.1 percent below last year’s level. The data reflects signed contracts, not closings, and is considered an indicator of future existing-home sales. Lawrence Yun, NAR’s chief economist, said the housing recovery looks to be a long process. Yun believes home sales will remain soft in the months ahead and feels conditions will continue to benefit buyers through the end of the year. More here, here, and here.

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Pending Sales Drop In June

The National Association of Realtors’ Pending Home Sales Index shows a 2.6 percent drop in contracts signed during the month of June. The decline follows a 30 percent drop in May and puts the index 18.6 percent below June 2009. Lawrence Yun, NAR’s chief economist, expects a couple more months of slow sales activity before it picks up later in the year. Yun said he believes interest rates will remain historically low for the rest of the year but, ultimately, the housing recovery is dependent on stronger job creation. More here, here, and here.

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Pending Home Sales Drop 30 Percent In May

According to The National Association of Realtors’ Pending Home Sales Index, the number of signed sales contracts dropped 30 percent in May. The plunge follows three months of gains driven by the homebuyer tax credit. Year-over-year, the index was down 15.9 percent. Lawrence Yun, NAR’s chief economist, blamed the sharp decline on the rush to meet the tax credit deadline in April. Yun expects June’s existing-home sales to remain elevated but to drop significantly in July and August. More here, here, here, and here.

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Pending Home Sales Up For Third Straight Month

Buyers looking to capitalize on federal tax incentives sent pending home sales to their highest level since October. According to The National Association of Realtors, pending home sales were up 6 percent in April and 22.4 percent higher than last year. Lawrence Yun, NAR’s chief economist, said the home buyer tax credit brought nearly one million additional buyers into the market and feels housing is now in good position to return to sustainable levels even without government stimulus. More here, here, and here.

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Pending Home Sales Reach Five-Month High

According to The National Association of Realtors’ Pending Home Sales Index, sales agreements for previously occupied homes rose 5.3 percent to 102.9 from 97.7 in February. It’s the highest level since October and 21.1 percent above March 2009. Lawrence Yun, NAR’s chief economist, said affordability and the home buyer tax credit have combined to produce a surge of spring home sales. Yun believes sales will drop in the months ahead but will likely become self-sustaining if the economy adds jobs in the second half of the year. The Pending Sales Index is a leading indicator for the housing market. More here, here, and here.

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Pending Home Sales Jump Unexpectedly

Pending home sales rose 8.2 percent in February, according to the National Association of Realtors. NAR’s chief economist, Lawrence Yun, said the improvement was a hopeful sign and may signal the early stages of a second surge of home sales this spring, adding that March’s data may demonstrate additional improvement because of the home-buyer tax credit’s April 30 expiration date. Anecdotal evidence suggests the $8,000 tax credit for first-time buyers has been more successful than the $6,500 credit offered to repeat buyers. More here and here.

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Pending Home Sales Fall

According to the National Association of Realtors, the Pending Home Sales Index fell 7.6 percent in January but remains 12.3 percent higher than it was during the same month last year. Pending sales, based on contracts signed during the month, typically lead existing sales by a month or two. Lawrence Yun, the NAR’s chief economist, expects near-term sales to be weak followed by a surge of existing-home sales in April, May, and June. More here.

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About Me:

Stacie Hartman is a wholesale mortgage Account Executive working with loan officers in Oregon and SW Washington. She has 18 years in the mortgage industry, an extensive knowledge of financing options, and a commitment to open communication and client service that make her stand out in her field. Her goals begin with uncompromising service and end with excellent results and repeat business.

Contact:

Stacie Hartman
360 Mortgage Group
Account Executive
Oregon and SW Washington
Phone: 503.757.9565
Email: shartman@360mortgagegroup.com
website: www.360mortgagegroup.com

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