In February 2024, the U.S. housing market showed signs of improvement with existing-home sales increasing by 9.5% from January to a seasonally adjusted annual rate of 4.38 million, as reported by the National Association of Realtors (NAR). Additionally, pending home sales grew by 1.6%, driven by modest inventory increases and job gains. Despite the monthly growth, pending home sales were down 7.0% year-over-year. The Midwest and South regions experienced gains in transactions, while the Northeast and West saw losses. The Pending Home Sales Index (PHSI) rose to 75.6. This performance comes amid a backdrop of rising mortgage rates and an increase in existing-home inventory, suggesting a cautious optimism in the housing market's resilience.
Pending sales of previously-owned homes in the US recovered last month after declining at the start of the year, adding to evidence that the housing market is gradually improving. https://t.co/upECPkW5nh
February pending home sales +1.6% month/month vs. +1.5% est. & -4.7% prior https://t.co/UDKqf1crM6
Pending home sales increased 1.6% in February, slightly more than the expected 1.5%. Pending home sales are still down 7 percent compared to one year ago. Even though mortgage rates increased in February, so too did existing-home inventory. You can only buy what's for sale!… https://t.co/3NQtOBRpcG
Pending home sales increased 1.6% in February, slightly more than the expected 1.4%. Pending home sales are still down 7 percent compared to one year ago. Even though mortgage rates increased in February, so too did existing-home inventory. You can only buy what's for sale!… https://t.co/GyX44H1wY5
The February reading of Pending Home Sales is +1.6% month on month. This was expected to be +1.5%.
Pending Home Sales Hover Near Record Lows In February https://t.co/4JiM8skQge
Pending home sales in February grew 1.6%. The Midwest and South posted monthly gains in transactions while the Northeast and West recorded losses. https://t.co/lUQEZiL97u
NAR: Pending Home Sales Increase 1.6% in February; Down 7.0% Year-over-year https://t.co/2I7gArTXVv
The Pending Home Sales Index (PHSI) increased to 75.6 in February. Year over year, pending transactions were down 7.0%. #NARPHS
⚠️ U.S. PENDING HOME SALES INCREASE MODERATELY, NAR SAYS Full Story → https://t.co/0DPFrcRvQc Pending home sales in the U.S. rose 1.6% in February, spurred by modest inventory increases and job gains, a report on Thursday said.
Pending home sales in February grew 1.6%, according to the National Association of Realtors®. The Midwest and South posted monthly gains in transactions while the Northeast and West recorded losses. #NARPHS https://t.co/x17Pa1jseN
NAR released a summary of existing-home sales data showing that housing market activity this February increased 9.5% from January 2024. February's existing-home sales reached a 4.38 million seasonally adjusted annual rate. #NAREHS https://t.co/iXVUtgpUJv