Burnt-out Lawns and July Heat Could Not Slow Down Single-Family Pending Home Sales

pendingsales_gradientFBThere was no slowing down in the number of accepted offers being made in July as pending home sales rose again over eight percent from last year, while condominium pending sales were also up. Prices for both property types continue to go up. The strong market was reflected in a high Realtor® Market Confidence Index, while Price Confidence was essentially flat.

July Pending Sales:

Single-Family July 2016 July 2015 %Change
Sales 5,863 5,406 8.5%
Median Price $379,000 $364,000 4.1%
  • Pending sales have been up 40 of last 41 months
Condominium July 2016 July 2015 %Change
Sales 2,082 1,955 6.5%
Median Price $360,000 $340,000 5.9%
  • Pending sales have been up for 11 of last 12 months

July2016PendingChart

Confidence Index July 2016 July 2015 %Change
Market 79.02 76.42 3.4%
Price 72.57 72.74 -0.2%
  • The RMCI was up for the 17th straight month
  • The RPCI was down for the seventh time in 12 months
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition

Read the full July 2016 Future Indicators Report release.

Momentum Continues into the Summer as Single Family Home Pending Sales Go Up Again in June

pendingsales_gradientFBPending home sales rose again over six percent from last year, while condominium pending sales slowed for the first time in 15 months. Prices also rose incrementally over last year. The strong market was reflected in a high Realtor® Market Confidence Index, while Price Confidence ticked down.

June Pending Sales:

Single Family June 2016 June 2015 % Change
Sales 6,813 6,407 6.3%
Median Price $380,000 $372,000 2.2%
  • Pending sales have been up 39 of last 40 months
Condominium June 2016 June 2015 % Change
Sales 2,507 2,517 -0.4%
Median Price $349,000 $330,000 6.0%
  • Pending sales down for the first time in 15 months

REALTOR® Market and Price Confidence Indexes:

Confidence Index June 2016 June 2015 %Change
Market 80.97 78.47 3.2%
Price 73.87 74.48 -0.8%
  • The Realtor® Market Confidence Index was up for the 16th straight month
  • The Realtor® Price Confidence Index was down for the seventh time in 12 months
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition    

Read the full June 2016 Future Indicators Report release.

Confidence in Market Very High as Pending Home Sales Hits Another Record for the Month of April

pendingsales_gradientFBHome sales momentum from the winter has continued into the spring, as April pending home sales increased just over 30 percent from last year. Realtors® confidence in the market increased to the highest level since May 2013 after a year of steady increases.

April Pending Sales:

Single Family April 2016 April 2015 % Change
Sales 7,139 5,477 30.3%
Median Price $350,688 $325,000 7.9%
  • Pending sales have been up 37 of last 38 months
  • Most pending sales in the month of April since 2004

 

Condominium April 2016 April 2015 % Change
Sales 2,782 2,448 13.6%
Median Price $329,628 $305,000 8.1%
  • Pending sales have been up 37 of the last 38 months

 

REALTOR® Market and Price Confidence Indexes:

Confidence Index April 2016 April 2015 %Change
Market 82.88 82.28 0.73%
Price 76.71 80.66 -4.89%
  • The Realtor® Market Confidence Index was up for the 13th straight month
  • The Realtor® Price Confidence Index was down for the fifth time in 12 months
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition

Read the full April 2016 Future Indicators Report release.

Mild Weather, Low Mortgage Rates and Moderating Home Prices Lead to Record Number of Pending Sales for a February

pendingsales_gradientFB

Homebuyers took advantage of mild winter weather, moderating home prices and mortgages rates hitting a 12-month low (3.695%*) to push pending home sales up to their highest level in the month of February since MAR began recording this data in 2004. Unsurprisingly, Realtors® confidence in the market was positive again in February.

February Pending Sales:

Single-Family February 2016 February 2015 %Change
Sales 4,531 2,578 75.8%
Median Price $308,750 $316,000 -2.3%
  • Pending sales have been up 35 of the last 36 months
Condominium February 2016 February 2015 %Change
Sales 1,809 1,118 61.8%
Median Price $285,000 $293,250 -2.8%
  • Pending sales have been up 35 of the last 36 months

pendingFeb16

Confidence Index February 2016 February 2015 %Change
Market 68.66 54.48 26%
Price 75.70 76.35 -1%
  • The RMCI was up for the 11th straight month
  • The RPCI was down for the first time in six months
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition

Read the full February 2016 Future Indicators Report release.

More Warm Weather Allows for a Strong Start to the Year in Pending Sales

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Buyers benefited from a mild-weather month in January to push pending home sales up almost 40 percent from last year. Realtors® confidence in the market was positive again in January. This month’s “Hot Topic” question finds that the majority of listings Realtors® saw in the past six months did not have any “smart home” features, like a thermostat or security system controlled via internet-connected devices.

January Pending Sales:

Single-Family January 2016 January 2015 %Change
Sales 3,914 2,802 39.7%
Median Price $330,000 $329,700 0.1%
  • Pending sales have been up 34 of the last 35 months
Condominium January 2016 January 2015 %Change
Sales 1,480 1,103 34.2%
Median Price $309,438 $311,860 -0.8%
  • Pending sales have been up 34 of the last 35 months

Jan16pendingchart

Confidence Index January 2016 January 2015 %Change
Market 66.98 63.34 6%
Price 73.58 73.32 0%
  • The RMCI was up for the tenth straight month
  • The RPCI was up or flat for the fourth fifth month
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition

Read the full January 2016 Future Indicators Report release.

An Unseasonably Warm December Kept Market Hot as Pending Home Sales Were Up Again

Dec_pending_blogtitleA record mild December allowed for increased buyer activity last month as pending home sales were up 34 percent from the same month last year.

Median prices increased slightly year over year, while condo prices remained flat. Year-end data showed that overall pending home sales were up in 2015 over last year despite the low number of homes for sale.

Realtors’® confidence in the market was positive again in December.

December Pending Sales:

Single-Family December 2015 December 2014 %Change
Sales 3,537 2,635 34.2%
Median Price $345,000 $330,000 4.5%
  • Pending sales have been up 33 of the last 34 months
Condominium December 2015 December 2014 %Change
Sales 1,217 936 30.0%
Median Price $319,000 $320,000 -0.0%
  • Pending sales have been up 33 of the last 34 months
    pendingDec15
Confidence Index December 2015 December 2014 %Change
Market 59.76 50.00 20%
Price 70.43 70.25 0%
  • The RMCI was up for the ninth straight month
  • The RPCI was up or flat for the fourth straight month
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition

Read the full December 2015 Future Indicators Report release.