Last week’s economic news was dominated by speeches given by Federal Reserve presidents, the minutes from April’s FOMC meeting and commencement address given by Fed Chair Janet Yellen. The latest readings for new and existing home sales were also released.
Sales of existing homes fell by 5.10 percent in January according to the National Association of REALTORS. Pre-owned home sales slowed to a seasonally-adjusted annual rate of 4.62 million homes against an expected reading of 4.65 million and Decemberâs reading of 4.87 million existing homes sold.
The National Association of REALTORSÂ® released its Existing Home Sales report for March on Monday.
Sales dipped from Februaryâs seasonally adjusted annual rate of 4.95 million to 4.92 million existing homes sold in March, a decrease of 0.6 percent month-to-month.
Existing home sales have increased by 10.2 percent as compared to 4.52 million existing home sales for February 2012, and have increased for 20 consecutive months. Read more…
Home sales rose for the 11th consecutive month according to the National Association of REALTORS® Existing Home Sales Report for January.
Home sales dropped last month, but not because demand was lacking. There are fewer homes for sale than at any time in the last 11 years.
In November, for the second straight month, the Pending Home Sales Index eclipsed its benchmark reading of 100, posting a value of 106.4.
Freddie Mac reported the average 30-year fixed rate mortgage rate at 3.37 percent — an increase of 0.05 percentage points from the week prior.
According to a joint release from the U.S. Census Bureau and the Department of Housing and Urban Development, Housing Starts rose 3.6% in October 2012, climbing to a seasonally-adjusted, annualized rate of 894,000 units.
After a small decline in September, Existing Home Sales rebounded in October, increasing a modest 2.1%.