{"id":5542,"date":"2017-07-31T00:00:00","date_gmt":"2017-07-31T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/home-sales-poised-to-reverse-downward-trend\/"},"modified":"2017-07-31T00:00:00","modified_gmt":"2017-07-31T00:00:00","slug":"home-sales-poised-to-reverse-downward-trend","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/home-sales-poised-to-reverse-downward-trend\/","title":{"rendered":"Home Sales Poised to Reverse Downward Trend"},"content":{"rendered":"

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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 reported Monday.<\/p>\n

NAR\u2019s Pending Home Sales Index in June rose 1.5 percent from May to a reading of 110.2, marking the first year-over-year increase since March. \u201cThe first half of 2017 ended with a nearly identical number of contract signings as one year ago, even as the economy added 2.2 million net new jobs,\u201d says NAR chief economist Lawrence Yun. \u201cMarket conditions in many areas continue to be fast-paced, with few properties to choose from, which is forcing buyers to act almost immediately on an available home that fits their criteria.\u201d\u00a0<\/p>\n

Yun notes that a shortage of homes on the market continues to hold back sales activity, and housing<\/a> inventory, which dropped in June, is now 7.1 percent lower than a year ago, according to NAR. Investors in particular are backing out of the market because of low inventory. In June, only 13 percent of home sales were to investors\u2014the lowest level of the year and the smallest share since June 2009, NAR reports.<\/p>\n

\u201cIt appears the ongoing run-up in price growth in many areas and less homes for sale<\/a> at bargain prices are forcing some investors to step away from the market,\u201d Yun says. \u201cFewer investors paying in cash is good news, as it could mean a little less competition for the homes first-time buyers can afford. However, the home search will still likely be a strenuous undertaking in coming months because supply shortages in most areas are most severe at the lower end of the market.\u201d<\/p>\n

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Source: National Association of REALTORS\u00ae<\/em><\/p>\n<\/div>\n<\/div>\n

Realtors.org <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Though existing-home sales took a hit last month, June\u2019s pending home sales\u2014a forward-looking indicator based on … Home Sales Poised to Reverse Downward Trend<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":5543,"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":true,"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":[1403,62,12908,543,215,248,239,127,557,344,41,818,479],"class_list":["post-5542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-for-sale","tag-home","tag-home-buying-guide","tag-home-sale","tag-home-sales","tag-home-search","tag-homes","tag-homes-for-sale","tag-housing","tag-property","tag-real","tag-realtor"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/June%20PHS%20Infographic.jpg?fit=750%2C800&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2716,"url":"https:\/\/amazingproperty.com.ng\/blog\/contract-signings-jump-to-near-decade-high\/","url_meta":{"origin":5542,"position":0},"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 "Opportunities In New Markets"","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":1377,"url":"https:\/\/amazingproperty.com.ng\/blog\/contract-signings-would-be-higher-if\/","url_meta":{"origin":5542,"position":1},"title":"Contract Signings Would Be Higher If\u2026","author":"Amazing Property","date":"February 27, 2017","format":false,"excerpt":"[ad_1] Pending home sales weakened in January as insufficient supply levels of homes for sale continues to press on many markets, particularly in the Midwest and West, the National Association of REALTORS\u00ae reported Monday. Regional Look Here is how pending home sales fared across the country in January: Northeast: The\u2026","rel":"","context":"In "Opportunities In New Markets"","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":7286,"url":"https:\/\/amazingproperty.com.ng\/blog\/the-good-bad-behind-latest-home-sales-report\/","url_meta":{"origin":5542,"position":2},"title":"The Good, Bad Behind Latest Home Sales Report","author":"Amazing Property","date":"November 29, 2017","format":false,"excerpt":"Following three consecutive months of declines, pending home sales rebounded strongly in October. But contract signings are still sliding behind levels from a year ago as potential home buyers continue to get frustrated at the lack of inventory. The National Association of REALTORS\u00ae reported that its Pending Home Sales Index,\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"October Phs Infographic.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/October%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\/11\/October%20PHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/October%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\/11\/October%20PHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3914,"url":"https:\/\/amazingproperty.com.ng\/blog\/housing-shortages-are-curbing-sales\/","url_meta":{"origin":5542,"position":3},"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 "Opportunities In New Markets"","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":5102,"url":"https:\/\/amazingproperty.com.ng\/blog\/contract-signings-pull-back-on-supply-woes\/","url_meta":{"origin":5542,"position":4},"title":"Contract Signings Pull Back on Supply Woes","author":"Amazing Property","date":"June 28, 2017","format":false,"excerpt":"[ad_1] Ongoing inventory shortages are propelling home prices higher, causing pending home sales to slump for the third consecutive month, the National Association of REALTORS\u00ae reported Wednesday. None of the major regions of the U.S. saw an increase in contract activity in May. 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