{"id":1377,"date":"2017-02-27T00:00:00","date_gmt":"2017-02-27T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/contract-signings-would-be-higher-if\/"},"modified":"2017-02-27T00:00:00","modified_gmt":"2017-02-27T00:00:00","slug":"contract-signings-would-be-higher-if","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/contract-signings-would-be-higher-if\/","title":{"rendered":"Contract Signings Would Be Higher If\u2026"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div readability=\"51.138443935927\">\n<!--\n\n<pre>-->  \n  <div property=\"dc:description\" readability=\"50.651411136537\"><!--paging_filter--><p>Pending home sales weakened in January as insufficient supply levels of <a href=\"https:\/\/amazingproperty.com.ng\/blog\/homes-for-sale-near-abijo-in-lekki\/\">homes for sale<\/a> continues to press on many markets, particularly in the Midwest and West, the National Association of REALTORS\u00ae reported Monday.<\/p>\n\n<blockquote readability=\"6.6104746317512\">\n<p><strong>Regional Look<\/strong><\/p>\n\n<p>Here is how pending home sales fared across the country in January:<\/p>\n\n<ul><li><strong>Northeast:<\/strong> The pending home sales index increased 2.3 percent to 98.7 in January, and is now 3.6 percent above a year ago.<\/li>\n\t<li><strong>Midwest:<\/strong> Pending home sales dropped 5 percent to 99.5 in January, and are now 3.8 percent lower than January 2016.<\/li>\n\t<li><strong>South:<\/strong> Pending home sales eked out a 0.4 percent increase to an index reading of 122.5 in January and are now 2 percent above last January.<\/li>\n\t<li><strong>West:<\/strong> Pending home sales fell 9.8 percent in January to 94.6, and are now 0.4 percent lower than a year ago.<\/li>\n<\/ul><p><em>Source: National Association of REALTORS\u00ae<\/em><\/p>\n<\/blockquote>\n\n<p>NAR\u2019s Pending Home Sales Index, a forward-looking indicator based on contract signings, dropped 2.8 percent to a reading of 106.4 in January. The latest reading on the index is about 0.4 percent above a year ago, but it\u2019s the lowest reading since that time.<\/p>\n\n<p>\u201cThe significant shortage of <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">listings<\/a> last month, along with deteriorating affordability as the result of higher home prices and <a href=\"https:\/\/amazingproperty.com.ng\/blog\/mortgage-preapproval-guide-for-home-buyers\/\">mortgage<\/a> rates, kept many would-be buyers at bay,\u201d says Lawrence Yun, NAR\u2019s chief economist. \u201cBuyer traffic is easily outpacing seller traffic in several metro areas and is why homes are selling at a much faster rate than a year ago. Most notably in the West, it\u2019s not uncommon to see a home come off the market within a month.\u201d<\/p>\n\n<p>Yun says that Americans\u2019 interest in purchasing a home is at the highest level since the Great Recession. More households are feeling confident about their financial situation, and job growth is strong. However, despite their optimism, more home shoppers are faced with limited choices due to a shortage of homes for-sale. The limited supply is also driving up prices in many areas.<\/p>\n\n<p>\u201cJanuary\u2019s accelerated price appreciation is concerning because it\u2019s over double the pace of income growth and mortgage rates are up considerably from six months ago,\u201d says Yun. \u201cEspecially in the most expensive markets, prospective buyers will feel this squeeze to their budget and will likely have to come up with additional savings or compromise on home size or location.\u201d<\/p>\n\n<p>Further, <a class=\"wpil_keyword_link\" href=\"https:\/\/amazingproperty.com.ng\/apartment\"   title=\"real estate\" data-wpil-keyword-link=\"linked\">real estate<\/a> professionals may see their sales more limited over the next few months. Yun says existing-home sales will likely \u201cbe choppy in the coming months as buyers compete for the meager number of listings in their price range.\u201d<\/p>\n\n<p><em>Source: National Association of REALTORS\u00ae<\/em><\/p>\n<\/div>\n  \n    \n<\/pre>\n\n<\/div>\n\n\n<br \/>[ad_2]\n<br \/><a href=\"http:\/\/feedproxy.google.com\/~r\/DailyRealEstateNews\/~3\/98GVBsMk7VY\/contract-signings-would-be-higher-if\">Source link <\/a>\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Pending home sales weakened in January as insufficient supply levels of homes for sale continues &hellip; <a title=\"Contract Signings Would Be Higher If\u2026\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/contract-signings-would-be-higher-if\/\"><span class=\"screen-reader-text\">Contract Signings Would Be Higher If\u2026<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":1378,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[4751,518,1403,62,12908,543,215,248,127,557,617,3058,408,1295,41,818,84,15282,61],"class_list":["post-1377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-america","tag-buy","tag-for-sale","tag-home","tag-home-buying-guide","tag-home-sale","tag-home-sales","tag-homes","tag-homes-for-sale","tag-house","tag-location","tag-mortgage","tag-mortgage-rate","tag-property","tag-real","tag-real-estate","tag-ross","tag-seller"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/98GVBsMk7VY","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3914,"url":"https:\/\/amazingproperty.com.ng\/blog\/housing-shortages-are-curbing-sales\/","url_meta":{"origin":1377,"position":0},"title":"Housing Shortages Are Curbing Sales","author":"Amazing Property","date":"April 27, 2017","format":false,"excerpt":"Pending home sales took a slight dip last month due to a dearth of homes for sale, the National Association of REALTORS\u00ae reported Thursday. The South was the only major region of the U.S. to see an increase in contract signings last month. Read more: Are Your Buyers Getting Frustrated\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2716,"url":"https:\/\/amazingproperty.com.ng\/blog\/contract-signings-jump-to-near-decade-high\/","url_meta":{"origin":1377,"position":1},"title":"Contract Signings Jump to Near Decade High","author":"Amazing Property","date":"March 29, 2017","format":false,"excerpt":"Pending home sales posted a strong rebound in February, soaring to the highest level in nearly a year and the second highest level in more than a decade, the National Association of REALTORS\u00ae reported Wednesday. All major regions saw an uptick in sales contracts last month. Sales Contracts By Region\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1139,"url":"https:\/\/amazingproperty.com.ng\/blog\/existing-home-sales-reach-decade-high\/","url_meta":{"origin":1377,"position":2},"title":"Existing-Home Sales Reach Decade High","author":"Amazing Property","date":"February 22, 2017","format":false,"excerpt":"[ad_1] Existing-home sales in January reached their fastest pace in nearly a decade, with all major regions except the Midwest posting gains last month, the National Association of REALTORS\u00ae reports. Sales By Region Here's how existing-home sales fared across the country in January: Northeast: Rose 5.3 percent to an annual\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5542,"url":"https:\/\/amazingproperty.com.ng\/blog\/home-sales-poised-to-reverse-downward-trend\/","url_meta":{"origin":1377,"position":3},"title":"Home Sales Poised to Reverse Downward Trend","author":"Amazing Property","date":"July 31, 2017","format":false,"excerpt":"Though existing-home sales took a hit last month, June\u2019s pending home sales\u2014a forward-looking indicator based on contract signings\u2014suggest a comeback is in line for most of the country. Every major region of the U.S. except the Midwest saw an uptick in contract signings last month, the National Association of REALTORS\u00ae\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/June%20PHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/June%20PHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/June%20PHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/June%20PHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":6023,"url":"https:\/\/amazingproperty.com.ng\/blog\/report-short-supplies-pummel-home-sales\/","url_meta":{"origin":1377,"position":4},"title":"Report: Short Supplies Pummel Home Sales","author":"Amazing Property","date":"August 31, 2017","format":false,"excerpt":"Contract signing mostly stalled last month as housing shortages across the country continued to hamper home sales, the National Association of REALTORS\u00ae reported Thursday. The West was the only major region of the U.S. to see an uptick in pending July home sales. Overall, NAR\u2019s Pending Home Sales Index\u2014a forward-looking\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"fb_regional_phs_jul17.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/fb_regional_phs_jul17.png?fit=620%2C255&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/fb_regional_phs_jul17.png?fit=620%2C255&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/fb_regional_phs_jul17.png?fit=620%2C255&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":4778,"url":"https:\/\/amazingproperty.com.ng\/blog\/nar-buyers-face-double-whammy-this-spring\/","url_meta":{"origin":1377,"position":5},"title":"NAR: Buyers Face &#039;Double Whammy\u2019 This Spring","author":"Amazing Property","date":"May 31, 2017","format":false,"excerpt":"[ad_1] For the second consecutive month, pending home sales scaled back as significantly weak supply levels of homes for sale continue to press on affordability conditions, the National Association of REALTORS\u00ae reported Wednesday. NAR\u2019s Pending Home Sales Index, a forward-looking indicator based on contract signings, fell 1.3 percent in April\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/April%20PHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/April%20PHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/April%20PHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/April%20PHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=700%2C400 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=1377"}],"version-history":[{"count":1,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1377\/revisions"}],"predecessor-version":[{"id":90703,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1377\/revisions\/90703"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/1378"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=1377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=1377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=1377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}