US Home Sales

Contract closings fell 5.4% from May to an annualized 5.12 million, figures from the National Association of Realtors showed Wednesday.

Existing home sales dropped 2.7 per cent to a seasonally adjusted annual rate of 5.77 million units last month, the National Association of Realtors said on Wednesday

The global boom in property prices comes alongside soaring stock markets, which quickly bounced back from a slump on pandemic-driven economic damage and devastating job losses

US home prices increased at the fastest pace in seven years in January as the pandemic has fueled demand for single-family houses even as the supply for such homes shrinks. The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, rose 11.1 per cent in January from a year earlier. That's the biggest gain since March 2014. Prices rose in all 20 cities, and the 12-month increase was larger for all cities in January than in the previous month. January's data remain consistent with the view that COVID has encouraged potential buyers to move from urban apartments to suburban homes, said Craig Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P DJI. It's not yet clear whether that trend will fade as the pandemic is brought under control, Lazzara said, or if there will be a permanent shift higher in demand. The biggest price gain was in Phoenix, where home prices jumped 15.8 per cent, followed by Seattle, with a 14.3 per cent gain, and San .

Sales of previously occupied US homes slowed last month

U.S. home prices surged at the fastest pace in nearly seven years in December, fueled by low mortgage rates and Americans moving from crowded urban areas to houses in the suburbs. The S and P CoreLogic Case-Shiller 20-city home price index, released Tuesday, climbed 10.1per cent in December from a year earlier. The year-end jump was the biggest since April 2014 and follows a strong 9.2per cent year-over-year gain in November. Home prices climbed 14.4per cent in Phoenix , 13.6per cent in Seattle and 13per cent in Seattle in December. But prices rose all over. Chicago, which recorded the slowest price gain, saw a 7.7per cent uptick. Detroit was not included in the year-over-year figures because of record-keeping delays caused by the coronavirus pandemic. These data are consistent with the view that COVID has encouraged potential buyers to move from urban apartments to suburban homes," said Craig Lazzara, global head of index investment strategy at S&P DJI.XX. But he said it was ...

Economists and realtors say a 40% share of first-time buyers is needed for a robust housing market

Existing home sales decreased 1.7 percent to a seasonally adjusted annual rate of 5.35 million units last month

Economists had forecast sales increasing 2.5% to a pace of 5.60 million units in March

Unemployment rate is at 4.7%, close to the nine-year low of 4.6%