The National Association of Realtors® (NAR) has reported their Pending Homes Sales Index (PHSI), which is a leading indicator of housing activity and is based on signed real estate contracts, not actual closings, for existing single-family homes, condos, and co-ops, declined in September to a reading of 130.0.
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Buyers Views of Home Affordability Improves in Q3 2020
According to the Q3 2020 Housing Trends Report (HTR) from the National Association of Home Builders (NAHB), 27% of buyers reported being able to afford half or more of the homes available for-sale in their desired markets.
Led by Refinance, Mortgage Applications Increased 1.7% in Week Ending 23rd October 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 23rd, 2020, The Market Composite Index, a measure of mortgage loan application volume, increased 1.7% on a seasonally adjusted basis from one week earlier.
U.S. Home Prices Increase Nationwide in August 1.5%
The Federal Housing Finance Agency (FHFA), Home Price Index (HPI) reports that House prices rose nationwide in August, up 1.5% above July’s reading.
Consumer Confidence Slips in October
In October, American consumers became more concerned about their prospects for employment, incomes and the economy. As a result, consumer confidence suddenly pulled back in October.
The Share of Mortgage Loans in Forbearance Drops to 5.90% in Weekending October 18th, 2020
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 2 basis points from 5.92% of servicers’ portfolio volume in the prior week to 5.90%, as of October 18, 2020.
S&P CoreLogic Case-Shiller Report U.S. Home Prices Increase 5.7% in August
According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, increasing demand and limited availability caused home prices to increase at a reported 5.7% annual gain in August, up from 4.8% in the previous month.
Potential Home Buyers Believe Availability Will Improve in the Months Ahead
According to the latest National Association of Homebuilders (NAHB) Housing Trends Report (HTR), 28% of prospective buyers in the third quarter of 2020 expected their search for a new or existing home would be easier in the months ahead.
New Home Sales Taper Off in September – Year-Over-Year Up 32.1%
The U.S. Census Bureau reported that the sales of new single-family houses in September 2020 were at a seasonally adjusted annual rate of 959,000.
Share of Americans Contemplating the Purchase of a New Home Increases in Q3 2020
The share of Americans who are considering the purchase of a new home in the next 12-months increased.