US Pending Home Sales Collapse To Record Lows
Completing the triumvirate of turmoil in the US housing market, pending home sales joined new- and existing-home sales prints with a big decline in January.
Pending home sales tumbled 4.6% MoM in January (after dropping 4.2% MoM in December), dramatically worse than the 0.9% MoM decline expected and dragging YoY sales down 5.2%…
Source: Bloomberg
This drop pushed pending home sales index to its all-time lows…
Source: Bloomberg
Contract signings tumbled 9.2% in the South – the biggest home-selling region in the country – parts of which experienced historic snowfall. That marked the biggest drop since the start of the Covid-19 pandemic.
Worse still, home prices continue to rise and squeeze would-be buyers.
National home prices rose 3.9% in December from a year earlier, up from the 3.7% annual gain seen a month earlier, according to data from S&P CoreLogic Case-Shiller.
The median sale price of a previously owned home in the US was $396,900 last month, according to NAR data, up 49% from five years earlier.
Of course, there is always an excuse:
“It is unclear if the coldest January in 25 years contributed to fewer buyers in the market, and if so, expect greater sales activity in upcoming months,” NAR Chief Economist Lawrence Yun said in a statement.
“However, it’s evident that elevated home prices and higher mortgage rates strained affordability.”
what!? No!? Cold weather in winter!!!! No one told the analysts who forecast just a small decline?
Finally, bear in mind that pending-homes sales tend to be a leading indicator for previously owned homes, as houses typically go under contract a month or two before they’re sold.
Tyler Durden Thu, 02/27/2025 – 10:34
Source: https://freedombunker.com/2025/02/27/us-pending-home-sales-collapse-to-record-lows/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Online: | |
| Visits: | 1,682,401,057 |
| Stories: | 8,372,176 |
Whistler Blowers, Insiders
