The Home Buyer's Korner

Information presented should be used for educational purposes only.

September 29th, 2015

Guy looking up in color

Pending Home Sales for August 2015

Homes Sales

The Pending Home Sales report is a forward-looking gauge of U.S. home and last month we saw that sales slipped in August. It’s further evidence that the surge we had seen in the first half of the year is slowing. Home sales typically close within a couple months after signing.

The National Association of Realtors said last week with the release of its pending home sales index, which is based on signings for purchases of previously owned homes, that sales declined 1.4 percent to a seasonally-adjusted figure of 109.4 in August, from a reading of 110.9 in July. The association blamed the dip on rising prices and a limited supply of homes on the market.

The report suggests home sales could soften in the third quarter.

Housing economists had expected a 0.4 percent rise in August. Sales are still well above where they were a year ago. The index rose 6.1 percent in August from a year earlier, the 12th consecutive annual increase.

Even with existing-housing supply barely budging all summer and no relief coming from new construction, contract activity is still higher than earlier this year and a year ago.

Other recent data point to steady demand in the housing market this summer. Sales of new, single-family home sales, which account for about 10 percent of the market, rose by 5.7 percent last month and the pace of completed existing-home sales has returned to its pre-recession levels, although sales slipped in August after a strong start to the year. Despite the recent weakness evident in the data on the existing home sales market, housing economist maintain upbeat on the housing market.

Despite a large increase in sales, new construction of single-family homes only increased 8.7 percent from a year ago in August, according to data from the Commerce Department. But builder sentiment is the highest it has been in nearly a decade, according to a survey of home builders.

Stronger job gains have also helped build momentum in the housing market. Interest rates also remain at historical lows. The average interest rate for a 30-year fixed-rate mortgage was 3.91% in August, according to Freddie Mac, the lowest it has been since May.

According to Monday’s report, pending home sales rose modestly in the West, but declined in every other region.


FHA 203K

Your Home Purchasing or Refinancing & Renovation Tool

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase


The Conventional Alternative to FHA 203K

Great for Real Estate Investors and Second Home Renovations

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase


Up to $10K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase


Organizing your home shopping experience affords a wise decision-making process.

This simple home inspection tool makes your ultimate buying decision a smart one.

To print this document click on “Open in New Window” located at the lower right corner;

click on “File”; then click on “Print”. In the center of the screen, you will have the option

to “Create A Printable PDF of the Presentation”.


The Home Buyer's Korner

Real Estate Marketing Blogs and Coaching

Mortgage Lenders Social Media Marketing Blogs

General Contractors Renovation Network




Facebook Group 2

The Home Buyer's Korner Fan page

Facebook Fan Page Honolulu

Join us at Real Estate Social

Comments are closed.