Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Pending Home Sales Slowed in August
Oct 1, 2013
 Printable format
 Email this Article
 Search

Pending home sales as tracked by the National Association of Realtors slowed in August. The association blamed the slowdown on inventory conditions, higher interest rates, rising home prices, and continuing restrictive mortgage credit impacting the market.

The association's Pending Home Sales Index, a forward-looking indicator based on contract signings, was at 107.7 in August, from a downwardly revised 109.4 in July 2013. This is still up 5.8% from August 2012's 101.8. Pending sales have been above year-ago levels for 28 months running.

"Sharply rising mortgage interest rates in the spring motivated buyers to make purchase decisions, culminating in a six-and-a-half-year peak for sales that were finalized last month," said Lawrence Yun, NAR chief economist. "Moving forward, we expect lower levels of existing-home sales, but tight inventory in many markets will continue to push up home prices in the months ahead."

The association expects total 2013 existing-home sales to be up about 11% to nearly 5.2 million. Still, it sees little change in 2014, with sales forecast to increase less than 1%.

The national median existing-home price is expected to be up 11% to 12% for overall 2013. Prices are expected to be up 5% to 6% in 2014.

Back to Daily News

 

Daily News

...........................................................

Apr 18, 2014: Spectrum Brands CEO Lumley Joins Husqvarna Board

Apr 17, 2014: GE Appliances 1Q Revenues Down 3%

Apr 17, 2014: Remodeling Growth Expected to Continue

Apr 17, 2014: HVAC/R Contractors Outlook Holds Steady

Apr 17, 2014: Appliance Store Sales Down Slightly in March

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows