{"id":7465,"date":"2015-01-30T18:19:46","date_gmt":"2015-01-30T18:19:46","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=7465"},"modified":"2015-01-30T18:19:46","modified_gmt":"2015-01-30T18:19:46","slug":"inventory-problems-stall-home-sales","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/inventory-problems-stall-home-sales\/","title":{"rendered":"Inventory Problems Stall Home Sales"},"content":{"rendered":"

Inventory Problems Stall Home Sales<\/h2>\n
\"Inventory<\/a>

Inventory Problems Stall Home Sales. Image courtesy of Stuart Miles \/ FreeDigitalPhotos.net<\/p><\/div>\n

Pending home sales dropped in December, despite interest rates being at the lowest levels in more than a year, the National Association of REALTOR\u00ae reports. All regions across the country posted declines in December.<\/p>\n

In December, pending home sales nationally fell 3.7 percent month-over-month. Still, NAR\u2019s Pending Home Sales Index, a forward-looking indicator based on contract signings, remained about 6 percent above year-over-year levels for the fourth consecutive month.<\/p>\n

Lawrence Yun, NAR\u2019s chief economist, says that inventory problems mixed with slightly higher home prices attributed to December\u2019s decline in contract signings.<\/p>\n

Total inventory dropped in December for the first time in 16 months, which left homebuyers with fewer choices of homes for-sale.<\/p>\n

\u201cWith interest rates at lows not seen since early 2013, the strength in existing-sales in upcoming months will largely depend on the willingness of current home owners to realize their equity gains from the past couple years and trade up,\u201d Yun says. \u201cMore jobs, increasing consumer confidence, less expensive mortgage insurance,\u00a0and new low down payment programs\u00a0coming into the marketplace will likely lead to more demand from first-time buyers.\u201d<\/p>\n

Regional Look<\/strong><\/p>\n

Across the country, here\u2019s how pending-home sales fared in December:<\/p>\n