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发帖数: 11530 | 1 Sales of Existing U.S. Homes Unexpectedly Declined in August
[Bloomberg]
Sho Chandra
September 22, 2016
Sales of previously owned U.S. homes unexpectedly declined to a six-month
low in August, signaling buyers are getting discouraged by a limited
selection of properties that’s kept prices high, National Association of
Realtors data showed Thursday.
Key Points
Contract closings fell 0.9 percent to a 5.33 million annual rate (
forecast was 5.45 million)
Sales rose 7.3 percent from August 2015 before seasonal adjustment
Median price of an existing home increased 5.1 percent from August 2015
to $240,200
Inventory of available properties fell 10.1 percent from a year earlier
to 2.04 million, the fewest homes since March
Big Picture
A shortage of available properties for sale continues to hinder the market,
the report showed, with inventories on a year-over-year basis falling for a
15th straight month in August. Even with the moderation in purchase activity
last month, the repeat sales market is expected to grow this year amid
steady hiring and borrowing costs that are still near record lows. Faster
wage growth along with more listings and construction of entry-level
properties would help provide a bigger boost to the housing recovery.
More from Bloomberg.com: Tiger Cub Citrone Sees Market in Biggest Correction
Since 2008
Economist Takeaways
The slowdown “is somewhat surprising given the broader economy is creating
jobs,” Lawrence Yun, chief economist at the Realtors group in Washington,
told reporters as the figures were released. “Inventories is the key factor
that is missing in this housing market recovery.” If more inventory comes
back on line with the help from builders, the housing recovery can move
forward, he said.
“The underlying pace is relatively steady,” said Omair Sharif, senior U.S.
economist at Societe Generale in New York. Low inventory, low credit
availability and tough affordability for first-time buyers remain “
headwinds for the housing market, and it’s hard to see home sales
accelerating a whole lot from here.”
More from Bloomberg.com: Divided Fed Holds Fire, Signals 2016 Rate Increase
Still Likely
“Given the inventory shortage in most markets, new listings at affordable
prices are receiving multiple offers and going under contract almost
immediately,” NAR president Tom Salomone, a broker-owner of Real Estate II
Inc. in Coral Springs, Florida, said in a statement.
The Details
Sales dropped in three of four regions, including a 2.7 percent decrease
in the South and a 1.6 percent decline in the West
At the current pace, it would take 4.6 months to sell the houses on the
market, down from 4.7 months in July; the Realtors group has said that less
than a five months’ supply represents a tight market
Properties were on the market for 36 days, compared with 47 days a year
ago
Single-family home sales decreased 2.3 percent to an annual rate of 4.7
million while purchases of condominium and co-op units rose 10.5 percent to
a 630,000 pace
First-time buyers accounted for 31 percent of all sales, compared with
32 percent the prior month | u******n
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【在 W***n 的大作中提到】
: Sales of Existing U.S. Homes Unexpectedly Declined in August
: [Bloomberg]
: Sho Chandra
: September 22, 2016
: Sales of previously owned U.S. homes unexpectedly declined to a six-month
: low in August, signaling buyers are getting discouraged by a limited
: selection of properties that’s kept prices high, National Association of
: Realtors data showed Thursday.
: Key Points
: Contract closings fell 0.9 percent to a 5.33 million annual rate (
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