{"id":7286,"date":"2017-11-29T00:00:00","date_gmt":"2017-11-29T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/the-good-bad-behind-latest-home-sales-report\/"},"modified":"2017-11-29T00:00:00","modified_gmt":"2017-11-29T00:00:00","slug":"the-good-bad-behind-latest-home-sales-report","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/the-good-bad-behind-latest-home-sales-report\/","title":{"rendered":"The Good, Bad Behind Latest Home Sales Report"},"content":{"rendered":"

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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.<\/p>\n

The National Association of REALTORS\u00ae reported that its Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 3.5 percent to a reading of 109.3 in October. The index is at its highest reading since June, but is still 0.6 percent below a year ago. Last month\u2019s uptick in pending home sales was mostly fueled by a significant increase in the South, which saw a rebound after hurricane-related disruptions in September, NAR reports. The South saw a 7.4 percent month-over-month increase in October and is now 2 percent higher than a year ago.<\/p>\n

\u201cLast month\u2019s solid increase in contract signings were still not enough to keep activity from declining on an annual basis for the sixth time in seven months,\u201d says Lawrence Yun, NAR\u2019s chief economist. \u201cHome shoppers had better luck finding a home to buy in October, but slim pickings and consistently fast price gains continue to frustrate and prevent too many would-be buyers from reaching the market.\u201d<\/p>\n

Inventory levels remained problematic this fall for home shoppers.<\/p>\n

\u201cExisting inventory has decreased every month on an annual basis for 29 consecutive months, and the number of homes for sale<\/a> at the end of October was the lowest for the month since 1999,\u201d Yun says. \u201cUntil new home construction climbs even higher and more investors and homeowners put their home on the market, sales will continue to severely trail underlying demand.\u201d<\/p>\n

\"\"<\/p>\n

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

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

Following three consecutive months of declines, pending home sales rebounded strongly in October. But contract signings … The Good, Bad Behind Latest Home Sales Report<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7287,"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":[1403,2890,62,12908,543,215,248,627,127,557,258,1007,41,818,479],"class_list":["post-7286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-construction","tag-for-sale","tag-home","tag-home-buying-guide","tag-home-sale","tag-home-sales","tag-homeowners","tag-homes","tag-homes-for-sale","tag-new-home","tag-owners","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\/11\/October%20PHS%20Infographic.jpg?fit=750%2C800&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1377,"url":"https:\/\/amazingproperty.com.ng\/blog\/contract-signings-would-be-higher-if\/","url_meta":{"origin":7286,"position":0},"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":3914,"url":"https:\/\/amazingproperty.com.ng\/blog\/housing-shortages-are-curbing-sales\/","url_meta":{"origin":7286,"position":1},"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":2716,"url":"https:\/\/amazingproperty.com.ng\/blog\/contract-signings-jump-to-near-decade-high\/","url_meta":{"origin":7286,"position":2},"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. 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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":4778,"url":"https:\/\/amazingproperty.com.ng\/blog\/nar-buyers-face-double-whammy-this-spring\/","url_meta":{"origin":7286,"position":4},"title":"NAR: Buyers Face '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. 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