Pending Home Sales Index

Pending home sales rose for an eighth consecutive month in September. NAR’s pending home sales registered a reading of 110.1 – a 6.1% increase from August’s level of 103.8 and
its highest level since December of 2006. September’s index was 21.2% higher than a year earlier and was the largest annual increase on record.  Read more >

Existing-Home Sales

Existing-home sales increased 9.4% in September, posting a seasonally adjusted annualized rate of 5.57 million units. Resales were up 9.2% from September of 2008. The stronger sales activity helped draw down housing inventory 7.5% to a 7.8 month supply at the current sales pace. The national median home price in September was $174.900 – down 8.5% from a year ago.  Read more >

New-Home Sales

New home sales declined slightly in September, registering 402,000 seasonally adjusted annualized units – a 3.6% decrease from August and 7.8% below the rate in September of 2008. The number of new homes available for sale continued to decline, although the 7.5-month supply (at the current sales rate) was unchanged from the previous month.  Read more > 

Housing Starts

Housing starts rose slightly in September to 590,000 units – a 0.5% increase. But starts were still off by double digits (28.2%) compared with year ago figures. Single-family starts rose 3.9% from August. Housing permits, generally a reliable indicator of future starts, slipped 1.2% to 573,000, 28.9% below the September level of 806,000.  Read more > 

Housing Affordability

Housing affordability continued at very high levels. NAR’s Housing Affordability Index stood at 162.7 in September – an increase from August’s revised reading of 159.5 and well ahead of the 137.6 index posted in September of 2008. The rise in affordability reflects decreases in all the major components used in calculating the index. Read more > 

Mortgage Rates

The average rate on 30-year fixed mortgages fell to its third lowest level this year reaching 4.95% in October. Low mortgage rates are supporting the housing market. The latest existing-home sales figures showed a record month-to month gain which no doubt reflects both the first-time buyer
tax credit and these historic low rates.  Read more > 

Employment

The U.S. economy lost 190,000 jobs in October – more than most analysts expected but down from the 219,000 jobs shed in the previous month. Despite some positive signs in the economy, the job market continues to lag; the unemployment rate rose to 10.2% – its highest level since 1983.<br>
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Economic Growth

Economic growth was in positive territory in the 3rd quarter of 2009. Growth in Real Gross Domestic Product (GDP) posted 3.5%, compared to -0.7% in the 2nd quarter and -6.5% in the 1st. This is the first estimate of 3rd quarter GDP growth based on preliminary figures. The 3.5% GDP figure reflects growth in spending for personal consumption, private investment and federal government, although the growth in federal spending decelerated.  Read more >