{"id":6773,"date":"2017-10-26T00:00:00","date_gmt":"2017-10-26T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/buying-in-the-fall-remains-a-challenge\/"},"modified":"2017-10-26T00:00:00","modified_gmt":"2017-10-26T00:00:00","slug":"buying-in-the-fall-remains-a-challenge","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/buying-in-the-fall-remains-a-challenge\/","title":{"rendered":"Buying in the Fall Remains a Challenge"},"content":{"rendered":"

\n<\/p>\n

\n <\/p>\n
<\/p>\n

More house hunters are looking for a home, but they\u2019re having trouble finding one. Demand continues to exceed housing<\/a> supplies in many markets, which is restraining contract signings this fall, the National Association of REALTORS\u00ae\u00a0reported Thursday.<\/p>\n

\"\"NAR\u2019s Pending Home Sales Index\u2014a forward-looking indicator based on contract signings\u2014posted a reading of 106 in September, its lowest reading since January 2015. The index is also 3.5 percent below a year ago and has fallen on an annual basis in five of the past six months.<\/p>\n

\u201cDemand exceeds supply in most markets, which is keeping price growth high and essentially eliminating any savings buyers would realize from the decline in mortgage<\/a> rates from earlier this year,\u201d says Lawrence Yun, NAR\u2019s chief economist. \u201cWhile most of the country, except for the South, did see minor gains in contract signings last month, activity is falling further behind last year\u2019s pace because new listings<\/a> aren\u2019t keeping up with what\u2019s being sold.\u201d<\/p>\n

Recent hurricanes also continue to weigh on sales. \u201cHurricane Irma\u2019s direct hit on Florida weighed on activity in the South, but similar to how Houston has rebounded after Hurricane Harvey, Florida\u2019s strong job and population growth should guide sales back to their pre-storm pace fairly quickly,\u201d Yun says.<\/p>\n

Ongoing supply constraints are squeezing prospective buyers the most at the lower end of the market, Yun says. First-time buyers accounted for 29 percent of all transactions in September, which matched the lowest share in two years. Existing-home sales continue to be down on an annual basis in the price range below $250,000. However, sales remain higher in the upper price brackets, NAR notes.<\/p>\n

\u201cBuyers looking for a little relief from the stiff competition from over the summer may unfortunately be out of luck in the coming months,\u201d Yun says. \u201cInventory starts to decline heading into the winter, and many would-be buyers from earlier in the year are still on the hunt to find a home.\u201d<\/p>\n

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

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

More house hunters are looking for a home, but they\u2019re having trouble finding one. Demand continues … Buying in the Fall Remains a Challenge<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":6774,"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":[1403,12908,543,215,248,617,344,408,1295,41,818,479],"class_list":["post-6773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-home","tag-home-buying-guide","tag-home-sale","tag-home-sales","tag-house","tag-housing","tag-mortgage","tag-mortgage-rate","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\/10\/September%20PHS%20Infographic.jpg?fit=750%2C800&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":7974,"url":"https:\/\/amazingproperty.com.ng\/blog\/housing-market-starts-2018-on-positive-note\/","url_meta":{"origin":6773,"position":0},"title":"Housing Market Starts 2018 on Positive Note","author":"Amazing Property","date":"January 31, 2018","format":false,"excerpt":"Contract signings on home sales rose slightly in December, reaching their highest level since last March, the National Association of REALTORS\u00ae reported Wednesday. NAR\u2019s Pending Home Sales Index, a forward-looking indicator based on contract signings, moved 0.5 percent higher to a reading of 110.1 last month, 0.5 percent higher than\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":"Jan18 Dn Phsinfographic.jpeg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/jan18_DN_PHSInfographic.jpeg?fit=640%2C683&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/jan18_DN_PHSInfographic.jpeg?fit=640%2C683&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/jan18_DN_PHSInfographic.jpeg?fit=640%2C683&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":1377,"url":"https:\/\/amazingproperty.com.ng\/blog\/contract-signings-would-be-higher-if\/","url_meta":{"origin":6773,"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":7619,"url":"https:\/\/amazingproperty.com.ng\/blog\/contract-signings-post-first-gains-since-june\/","url_meta":{"origin":6773,"position":2},"title":"Contract Signings Post First Gains Since June","author":"Amazing Property","date":"December 27, 2017","format":false,"excerpt":"Pending home sales eked out a small increase in November on both a monthly and annualized basis. The increase was enough to make it the highest gain in contract signings since June as well, the National Association of REALTORS\u00ae reported Wednesday.\u00a0 But will it last? Existing-home sales and price growth\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":"November Phs Infographic.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/November%20PHS%20Infographic.jpg?fit=620%2C661&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/November%20PHS%20Infographic.jpg?fit=620%2C661&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/November%20PHS%20Infographic.jpg?fit=620%2C661&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5102,"url":"https:\/\/amazingproperty.com.ng\/blog\/contract-signings-pull-back-on-supply-woes\/","url_meta":{"origin":6773,"position":3},"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. NAR\u2019s Pending Home Sales Index, a forward-looking\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":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/May%20PHS%20Infographic.jpg?fit=540%2C576&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/May%20PHS%20Infographic.jpg?fit=540%2C576&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/May%20PHS%20Infographic.jpg?fit=540%2C576&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":2716,"url":"https:\/\/amazingproperty.com.ng\/blog\/contract-signings-jump-to-near-decade-high\/","url_meta":{"origin":6773,"position":4},"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":6423,"url":"https:\/\/amazingproperty.com.ng\/blog\/inventory-woes-drain-momentum\/","url_meta":{"origin":6773,"position":5},"title":"Inventory Woes Drain Momentum","author":"Amazing Property","date":"September 27, 2017","format":false,"excerpt":"Pending home sales receded last month for the fifth time in six months and will likely pull existing sales for the year below the pace set in 2016, according to the National Association of REALTORS\u00ae\u2019 forward-looking indicator, which is based on contract signings.\u00a0NAR\u2019s Pending Home Sales Index\u00a0fell 2.6 percent in\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":"August-PHS-Infographic.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/August%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\/09\/August%20PHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/August%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\/09\/August%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\/6773","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=6773"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6773\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/6774"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=6773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=6773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=6773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}