{"id":17515,"date":"2020-07-01T13:17:33","date_gmt":"2020-07-01T13:17:33","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=17515"},"modified":"2020-07-01T13:17:33","modified_gmt":"2020-07-01T13:17:33","slug":"home-sales-post-record-setting-rebound-in-may","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/home-sales-post-record-setting-rebound-in-may\/","title":{"rendered":"Home Sales Post Record-Setting Rebound in May"},"content":{"rendered":"

Home Sales Post Record-Setting Rebound in May<\/h1>\n

Following two consecutive months of declines, pending home sales came roaring back in May, the National Association of REALTORS\u00ae reported Monday. Every major region of the U.S. posted month-over-month increases, including the South, which also bested its levels from a year ago.<\/p>\n

Home buyers reemerged, ready to move quickly on purchases as states reopened in May. \u201cThis has been a spectacular recovery for contract signings and goes to show the resiliency of American consumers and their evergreen desire for homeownership,\u201d says NAR Chief Economist Lawrence Yun. \u201cThis bounce-back also speaks to how the housing sector could lead the way for a broader economic recovery.\u201d<\/p>\n

NAR\u2019s Pending Home Sales Index\u2014a forward-looking indicator based on contract signings\u2014jumped 44.3% to a reading of 99.6, the highest month-over-month gain in the index\u2019s history dating back to January 2001. An index of 100 is equal to the level of contract activity in 2001. However, overall contract signings are still down 5.1% year over year. \u201cMore listings are continuously appearing as the economy reopens, helping with inventory choices,\u201d Yun says. \u201cStill, more home construction is needed to counter the persistent underproduction of homes over the past decade.\u201d<\/p>\n

Yun says the outlook for real estate has significantly improved over the last month. New-home sales are expected to move higher than a year ago, and annual existing-home sales are projected to fall by less than 10%. The more upbeat forecast comes \u201ceven after missing the spring buying season due to the pandemic lockdown,\u201d Yun notes.<\/p>\n

NAR is projecting that existing home sales will reach 4.93 million units in 2020 and that new-home sales will reach 690,000. \u201cAll figures light up in 2021 with positive GDP, employment, housing starts, and home sales,\u201d Yun says. He also notes that in 2021, home sales are forecast to rise to 5.35 million units for existing homes and 800,000 for new homes.<\/p>\n

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Source:<\/div>\n
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\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Home Sales Post Record-Setting Rebound in May Following two consecutive months of declines, pending home sales came roaring back in May, the National Association of REALTORS\u00ae reported Monday. Every major region of the U.S. posted month-over-month increases, including the South, which also bested its levels from a year ago. Home buyers reemerged, ready to move … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-17515","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nHome Sales Post Record-Setting Rebound in May - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/home-sales-post-record-setting-rebound-in-may\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-sales-post-record-setting-rebound-in-may\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-sales-post-record-setting-rebound-in-may\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Home Sales Post Record-Setting Rebound in May\",\"datePublished\":\"2020-07-01T13:17:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-sales-post-record-setting-rebound-in-may\\\/\"},\"wordCount\":322,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-sales-post-record-setting-rebound-in-may\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-sales-post-record-setting-rebound-in-may\\\/\",\"name\":\"Home Sales Post Record-Setting Rebound in May - 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