According to the National Association of Realtors, the pending property collapsed in December 2021, meaning two consecutive crashes. All four major U.S. states reduced their monthly and annual declines.
Leading real estate indicator The Pending Home Sales Index fell 3.8% to 117.7 points in December. Compared to the previous year, trade decreased by 6.9%. The 100 index corresponds to the number of contracts concluded in 2001.
“Real estate is waiting for the end of 2021 because the housing shortage has left consumers less choice,” said Lawrence Yun, chief economist at NAR. “Banking rules have risen sharply in recent weeks, which is unfortunate that foreign customers are finally being pushed aside.”
Although the deal fell in December, Yun said last year was a good time to stay on top of Pending home sales and value prices.
“The market is likely to tolerate a small drop in sales as fractional prices continue to rise,” he added.
Yun predicts a 30-year adjustment rate of 3.9% in the fourth quarter and a 2.8% decline in existing housing to 5.95 million.
As December is the third consecutive month of building, Yun hopes construction will continue to improve and contribute to the decline in house prices by 2022. It forecasts housing prices to rise to $ 1.65 million and Pending house prices to rise 5.1%.
“Integrating increased demand and rising costs will lead to better housing prices in line with wage growth,” Yun said.
Data on Realtor.com’s hottest housing market in December showed that 40 meters of the most developed market last year were Orlando-Kissimmee-Sanford, Fla.; Tampa-St. St. Petersburg, Fla .; Jacksonville, Fla .; Dallas-Fort Worth-Arlington, Texas; and Denver-Aurora-Lakewood, Colo.
Name Awaiting sale of property for destruction
Measured every month, Northeast PHSI fell 1.2% to 98.2 in December from 10.5% a year earlier. In the Midwest, the index fell 3.7 percent last month to 112.8 points, down 1.2 percent from December 2020.
Expected housing sales in the South fell by 1.8% in December to 145.2, which is 3.9% less than in December 2020. In the West, the index fell by 10.0% to 95.0 in December, which is 16.2% less than last year.