{"id":641,"date":"2025-01-21T07:17:59","date_gmt":"2025-01-21T07:17:59","guid":{"rendered":"https:\/\/finzexpert.com\/blog\/pending-home-sales-at-highest-level-in-almost-2-years\/"},"modified":"2025-01-21T07:17:59","modified_gmt":"2025-01-21T07:17:59","slug":"pending-home-sales-at-highest-level-in-almost-2-years","status":"publish","type":"post","link":"https:\/\/finzexpert.com\/blog\/pending-home-sales-at-highest-level-in-almost-2-years\/","title":{"rendered":"Pending Home Sales at Highest Level in Almost 2 Years"},"content":{"rendered":"\n<div>\n<p>The National Association of Realtors (NAR) releases monthly reports on both existing and pending home sales. The latter tracks signed purchase contracts that have not yet closed. As such, it&#8217;s seen as a good early indicator of existing home sales in the following month.\u00a0<\/p>\n<p>The housing market would take any help it can get at the moment and November&#8217;s pending sales numbers are actually legitimately encouraging, even if the overall level of activity remains historically low.<\/p>\n<p><\/p>\n<p>This is the 4th consecutive month of improvement for the index and it brings it to the highest level since February 2023.\u00a0 Contract signings were up 2.2% versus last month and 6.9% versus last year, even as mortgage rates remain elevated. That makes the past few months significant because this the first meaningful break into positive year-over-year territory since early 2022.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/a.mortgagenewsdaily.com\/assets\/67730044f510a04db34c641c\/67730044f510a04db34c641c.png\" width=\"651\" height=\"489\" alt=\"\"\/><\/p>\n<p>\u201cConsumers appeared to have recalibrated expectations regarding mortgage rates and are taking advantage of more available inventory,\u201d said NAR Chief Economist Lawrence Yun. \u201cMortgage rates have averaged above 6% for the past 24 months. Buyers are no longer waiting for or expecting mortgage rates to fall substantially. Furthermore, buyers are in a better position to negotiate as the market shifts away from a seller\u2019s market.\u201d<\/p>\n<p>Regionally, the South led the charge with a 5.2% increase vs last month.\u00a0 The Midwest and Western regions advanced less than 1% and the Northeast declined 1.3%.\u00a0 All 4 regions are stronger in year over year terms.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The National Association of Realtors (NAR) releases monthly reports on both existing and pending home sales. The latter tracks signed purchase contracts that have not yet closed. As such, it&#8217;s seen as a good early indicator of existing home sales in the following month.\u00a0 The housing market would take any help it can get at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":642,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[310,259,311,308,309,312],"class_list":["post-641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan","tag-highest","tag-home","tag-level","tag-pending","tag-sales","tag-years"],"_links":{"self":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/comments?post=641"}],"version-history":[{"count":0,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/641\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media\/642"}],"wp:attachment":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media?parent=641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/categories?post=641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/tags?post=641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}