ADVERTISEMENT
  • News
  • Technology
  • Culture
  • Entertainment
  • Sport
  • Travel
  • Music
  • More
    • Politics
    • Lifestyle
    • TV
    • Games
Wednesday, November 29, 2023
  • Login
No Result
View All Result
NEWSLETTER
FINCHANNEL
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
No Result
View All Result
FINCHANNEL
No Result
View All Result
Home Business RealEstate

Pending Home Sales Strengthen 3.5 Percent in October

The FINANCIAL by The FINANCIAL
November 30, 2017
in RealEstate
Reading Time: 2 mins read
A A
0
Nearly One Quarter of 2017 U.S. Home Sales Were Above the Asking Price
Share on FacebookShare on Twitter

The FINANCIAL — Pending home sales rebounded strongly in October following three straight months of diminishing activity, but still continued their recent slide of falling behind year ago levels, according to the National Association of Realtors. All major regions except for the West saw an increase in contract signings last month.

ADVERTISEMENT

The Pending Home Sales Index a forward-looking indicator based on contract signings, rose 3.5 percent to 109.3 in October from a downwardly revised 105.6 in September. The index is now at its highest reading since June (110.0), but is still 0.6 percent below a year ago.

Lawrence Yun, NAR chief economist, says pending sales in October were primarily driven higher by a big jump in the South, which saw a nice bounce back after hurricane-related disruptions in September. “Last month’s solid increase in contract signings were still not enough to keep activity from declining on an annual basis for the sixth time in seven months,” he said. “Home shoppers had better luck finding a home to buy in October, but slim pickings and consistently fast price gains continue to frustrate and prevent too many would-be buyers from reaching the market.”

RelatedPosts

Do Not Fear the Impact of AI on Commercial Real Estate

Transaction volume for U.K. student housing shot up to an all-time high of GPB 8.7 billion in 2022

Home buyers gain breathing room with late-summer slowdown on the way

Vietnamese house prices continue to surge, amidst plunging demand and supply

According to Yun, the supply and affordability headwinds seen most of the year have not abated this fall. Although homebuilders are doing their best to ramp up production of single-family homes amidst ongoing labor and cost challenges, overall activity still drastically lags demand. Further exacerbating the inventory scarcity is the fact that homeowners are staying in their homes longer. NAR’s 2017 Profile of Home Buyers and Sellers – released last month – revealed that homeowners typically stayed in their home for 10 years before selling (an all-time survey high). Prior to 2009, sellers consistently lived in their home for a median of six years before selling.

“Existing inventory has decreased every month on an annual basis for 29 consecutive months, and the number of homes for sale at the end of October was the lowest for the month since 19991,” said Yun. “Until new home construction climbs even higher and more investors and homeowners put their home on the market, sales will continue to severely trail underlying demand.”

With two months of data remaining for the year, Yun forecasts for existing-home sales to finish at around 5.52 million, which is an increase of 1.3 percent from 2016 (5.45 million). The national median existing-home price this year is expected to increase around 6 percent. In 2016, existing sales increased 3.8 percent and prices rose 5.1 percent.

The PHSI in the Northeast inched forward 0.5 percent to 95.0 in October, but is still 1.9 percent below a year ago. In the Midwest the index increased 2.8 percent to 105.8 in October, but remains 0.9 percent lower than October 2016.

Pending home sales in the South jumped 7.4 percent to an index of 123.6 in October and are now 2.0 percent higher than last October. The index in the West decreased 0.7 percent in October to 101.6, and is now 4.4 percent below a year ago.

 

ADVERTISEMENT
The FINANCIAL

The FINANCIAL

Related Posts

Another Recession Will Start Within Three Years
RealEstate

Do Not Fear the Impact of AI on Commercial Real Estate

by The FINANCIAL
August 23, 2023
0

Hype over the negative impact of AI on commercial real estate is on the rise. To hear some commentary, we...

Read more
Why people immigrate to the UK: seizing the opportunities of administrative data

Transaction volume for U.K. student housing shot up to an all-time high of GPB 8.7 billion in 2022

August 23, 2023
Metro Home-Price Growth Quickens to 5.7 Percent in the First Quarter

Home buyers gain breathing room with late-summer slowdown on the way

August 20, 2023
World Bank Supports Vietnam’s Competitiveness with US$150 Million Loan

Vietnamese house prices continue to surge, amidst plunging demand and supply

August 1, 2023
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
Jeff Schwartz on Emergence and Evolution of Private Debt Markets

Jeff Schwartz on Emergence and Evolution of Private Debt Markets

October 18, 2023
mobile-banking.jpg

The experts at Symple Lending discuss how rising interest rates are make paying down credit cards more difficult.

September 6, 2023
Subway® and Wissol Group Partner to Expand Subway’s Presence in Georgia

Subway® and Wissol Group Partner to Expand Subway’s Presence in Georgia

November 8, 2023
EasyJet to fly to London from Stockholm Arlanda

The London Diplomatic List, Addresses, Contacts & Working Hours

January 23, 2023
Tegeta Holding won two nominations in the Corporate Sustainability Award Competition

Tegeta Holding won two nominations in the Corporate Sustainability Award Competition

October 23, 2023
Thalidomide: Australia gives national apology to survivors and families

Thalidomide: Australia gives national apology to survivors and families

November 29, 2023
Find out how the Levelling Up Home Building Fund can support you

Find out how the Levelling Up Home Building Fund can support you

November 29, 2023
The planet added another record-breaking month to 2023, with October ranking as the warmest October in the 174-year global climate record.

The planet added another record-breaking month to 2023, with October ranking as the warmest October in the 174-year global climate record.

November 29, 2023
2023 Atlantic hurricane season ranks 4th for most-named storms in a year

2023 Atlantic hurricane season ranks 4th for most-named storms in a year

November 29, 2023
Renting ‘need not be a poor relation to home owning’, says report

Hud and Sensus Bureau Report New Residential Sales in Oct 2023

November 29, 2023

Popular Last 24h

  • WashingtonUSA

    FHA Announces 2024 Loan Limits, Empowering Homebuyers Amidst Rising Home Prices

    42 shares
    Share 17 Tweet 11
  • “Your assets are protected”

    17 shares
    Share 7 Tweet 4
  • The experts at Symple Lending discuss how rising interest rates are make paying down credit cards more difficult.

    602 shares
    Share 241 Tweet 151
  • Thalidomide: Australia gives national apology to survivors and families

    16 shares
    Share 6 Tweet 4
  • Use FinOps to Reduce Cloud Costs Across AWS, Azure, and GCP

    15 shares
    Share 6 Tweet 4
  • HUD Awards $25 Million to Public Housing Agencies to Expand More Housing Choices for Families

    15 shares
    Share 6 Tweet 4
  • Find Social Security Number by Name Free

    1995 shares
    Share 798 Tweet 499

LATEST POSTS

Thalidomide: Australia gives national apology to survivors and families

Thalidomide: Australia gives national apology to survivors and families

November 29, 2023
Find out how the Levelling Up Home Building Fund can support you

Find out how the Levelling Up Home Building Fund can support you

November 29, 2023
The planet added another record-breaking month to 2023, with October ranking as the warmest October in the 174-year global climate record.

The planet added another record-breaking month to 2023, with October ranking as the warmest October in the 174-year global climate record.

November 29, 2023
2023 Atlantic hurricane season ranks 4th for most-named storms in a year

2023 Atlantic hurricane season ranks 4th for most-named storms in a year

November 29, 2023
Renting ‘need not be a poor relation to home owning’, says report

Hud and Sensus Bureau Report New Residential Sales in Oct 2023

November 29, 2023
HUD Awards $25 Million to Public Housing Agencies to Expand More Housing Choices for Families

HUD Awards $25 Million to Public Housing Agencies to Expand More Housing Choices for Families

November 29, 2023
WashingtonUSA

FHA Announces 2024 Loan Limits, Empowering Homebuyers Amidst Rising Home Prices

November 29, 2023
US military aircraft with six aboard crashes off Japan island

US military aircraft with six aboard crashes off Japan island

November 29, 2023
This Is Spinal Tap’s Long-Awaited Sequel Will Be Filmed In 2024

This Is Spinal Tap’s Long-Awaited Sequel Will Be Filmed In 2024

November 29, 2023
Food price inflation continues to be at historically high levels, despite falling to 10.1% in October 2023.

Food price inflation continues to be at historically high levels, despite falling to 10.1% in October 2023.

November 29, 2023

LATEST INTERVIEWS

Lighting the path for sustainability in Georgia

Lighting the path for sustainability in Georgia

by The FINANCIAL
August 14, 2023
0

Toyota Plays a Crucial Role in Contributing to Georgia’s Zero Emissions Challenge

Toyota Plays a Crucial Role in Contributing to Georgia’s Zero Emissions Challenge

by The FINANCIAL
July 12, 2023
0

ESG stands for Environmental, Social, and Governance

ESG stands for Environmental, Social, and Governance

by The FINANCIAL
July 12, 2023
0

“EU membership might attract European banks and other financial institutions to enter Georgia”

“EU membership might attract European banks and other financial institutions to enter Georgia”

by The FINANCIAL
May 15, 2023
0

Main risks facing banks in 2023

Main risks facing banks in 2023

by The FINANCIAL
May 15, 2023
0

‘Russia cannot be treated as a reasonable and reliable trade partner

‘Russia cannot be treated as a reasonable and reliable trade partner

by The FINANCIAL
February 13, 2023
0

We should increase our joint efforts to assist the growing tech sector here in Georgia

We should increase our joint efforts to assist the growing tech sector here in Georgia

by The FINANCIAL
February 13, 2023
0

‘Georgia has much to offer to UK investors

‘Georgia has much to offer to UK investors

by The FINANCIAL
February 13, 2023
0

Newsletter

ADVERTISEMENT

GET IN TOUCH

E-mail your company news at:

news (at) financial.ge Letters to the Editor: editor (at) finchannel.com

Local Marketing contact:

(+99532) 2252 275 | 76 EXT: 1 (+995 558) 03 03 03 (mobile) marketing (at) finchannel.com

Requests from abroad:

(+99532) 2252 275 | 76 EXT: 7 (+995599) 96 52 52 Email: zviadi (@) finchannel.com Contact video editor: E-mail: video (at) financial.ge

Postal address: 17 Mtskheta str. Tbilisi, Georgia 0179 The FINANCIAL

RESOURCE

  • Work at the FINANCIAL
  • ePaper
  • Advertise in The FINANCIAL
  • Access ePaper
  • Guest posts
  • Contributed articles
  • AmericanStockNews
  • Coupon Codes
  • GLOSSY MAG
American Culture Center
ACC Partner

GUIDEBOOK

  • Meet our team
  • Invest in Georgia
  • Become contributor
  • Archive

FOLLOW US

  • Facebook
  • Twitter
  • Google+
  • Youtube
No Result
View All Result
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.