AKA, dead cat bounce in the real estate market is over. According to the National Association of Realtors, pending home sales index “unexpectedly” fell 0.8% in February and 10.5% from a year ago level. This should not be unexpected to the readers of this blog. In fact, I have predicted that the housing market is topping out and rolling over as far back as September of 2013. If you would like to get a complete real estate report and learn exactly what will happen over the next few years, please read my comprehensive report. Real Estate Collapse 2.0 Why, How & When
Did you enjoy this article? If so, please share our blog with your friends as we try to get traction. Gratitude!!!
Click here to subscribe to my mailing list
Real Estate Mirage Breaks Down Google
WSJ Reports: Vital Signs: Housing’s Recovery Is Losing Momentum
The National Association of Realtor’s pending home sales index unexpectedly slipped 0.8% in February, pushing the index 10.5% below its year-ago level. And with the January index revised down, pending home sales have fallen for eight consecutive months.
The downtrend foreshadows weakness in future existing home sales. (The pending sales index is based on contract signings, while sales are counted after closings.) While weather may have caused some buyers to hold off from housing hunting, affordability is becoming more of a challenge. Price increases and higher mortgage rates are pricing some potential buyers out of the market.
The NAR forecasts existing-home sales will total 5.0 million this year, down slightly from nearly 5.1 million in 2013.
Comments are closed.