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Home Purchase Contracts Fall Again
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Home Purchase Contracts Fall Again
The Easy Way to Shop For a Mortgage Loan
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Home Purchase Contracts Fall Again
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Signed contracts for home purchases fell for the seventh consecutive month in December according to the National Association of Realtors® (NAR) Pending Home Sales Index (PHSI).

The future contract signings indicator fell by 8.7 percent to 92.4 in December from a revised 101.2 in November and was 8.8 percent lower than in December of last year when the Index was at 101.3. It was the seventh consecutive month that the Index has declined.

In May of last year, the Index had reached its highest level in over six years but has declined every month since.

Lawrence Yun, chief economist of NAR, stated, “Unusually disruptive weather across large stretches of the country in December forced people indoors and prevented some buyers from looking at homes or making offers.”

All four of the regions in the Index posted declines in both their monthly level of contract signing activity and year-over-year activity.

The Northeast posted the largest monthly decrease in activity, falling 10.3 percent from the previous month followed by the West with a decline of 9.8 percent. The South reported a decline of 8.8 percent while the Midwest posted a decline of 6.8 percent.

The West reported the largest decrease in contract signings compared to December of last year with a 16.0 percent decline followed by the Midwest and the South which were 6.9 percent lower than last year while the Northeast posted a 5.5 percent decline from the previous year.

The PHSI is a forward looking indicator which generally indicates closings one to two months in the future.

“Home prices rising faster than income is also giving pause to some potential buyers, while at the same time a lack of inventory means insufficient choice. Although it could take several months for us to get a clearer read on market momentum, job growth and pent-up demand are positive factors,” Yun added.

Tags: pending home sales, existing home sales, contract signings

Source:
National Association of Realtors

Reported by Chris Moore

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Signed contracts for home purchases fell for the seventh consecutive month in December according to the National Association of Realtors® (NAR) Pending Home Sales Index (PHSI).

The future contract signings indicator fell by 8.7 percent to 92.4 in December from a revised 101.2 in November and was 8.8 percent lower than in December of last year when the Index was at 101.3. It was the seventh consecutive month that the Index has declined.

In May of last year, the Index had reached its highest level in over six years but has declined every month since.

Lawrence Yun, chief economist of NAR, stated, “Unusually disruptive weather across large stretches of the country in December forced people indoors and prevented some buyers from looking at homes or making offers.”

All four of the regions in the Index posted declines in both their monthly level of contract signing activity and year-over-year activity.

The Northeast posted the largest monthly decrease in activity, falling 10.3 percent from the previous month followed by the West with a decline of 9.8 percent. The South reported a decline of 8.8 percent while the Midwest posted a decline of 6.8 percent.

The West reported the largest decrease in contract signings compared to December of last year with a 16.0 percent decline followed by the Midwest and the South which were 6.9 percent lower than last year while the Northeast posted a 5.5 percent decline from the previous year.

The PHSI is a forward looking indicator which generally indicates closings one to two months in the future.

“Home prices rising faster than income is also giving pause to some potential buyers, while at the same time a lack of inventory means insufficient choice. Although it could take several months for us to get a clearer read on market momentum, job growth and pent-up demand are positive factors,” Yun added.

Tags: pending home sales, existing home sales, contract signings

Source:
National Association of Realtors

Reported by Chris Moore

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

Signed contracts for home purchases fell for the seventh consecutive month in December according to the National Association of Realtors® (NAR) Pending Home Sales Index (PHSI).

The future contract signings indicator fell by 8.7 percent to 92.4 in December from a revised 101.2 in November and was 8.8 percent lower than in December of last year when the Index was at 101.3. It was the seventh consecutive month that the Index has declined.

In May of last year, the Index had reached its highest level in over six years but has declined every month since.

Lawrence Yun, chief economist of NAR, stated, “Unusually disruptive weather across large stretches of the country in December forced people indoors and prevented some buyers from looking at homes or making offers.”

All four of the regions in the Index posted declines in both their monthly level of contract signing activity and year-over-year activity.

The Northeast posted the largest monthly decrease in activity, falling 10.3 percent from the previous month followed by the West with a decline of 9.8 percent. The South reported a decline of 8.8 percent while the Midwest posted a decline of 6.8 percent.

The West reported the largest decrease in contract signings compared to December of last year with a 16.0 percent decline followed by the Midwest and the South which were 6.9 percent lower than last year while the Northeast posted a 5.5 percent decline from the previous year.

The PHSI is a forward looking indicator which generally indicates closings one to two months in the future.

“Home prices rising faster than income is also giving pause to some potential buyers, while at the same time a lack of inventory means insufficient choice. Although it could take several months for us to get a clearer read on market momentum, job growth and pent-up demand are positive factors,” Yun added.

Tags: pending home sales, existing home sales, contract signings

Source:
National Association of Realtors

Reported by Chris Moore

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.