{"id":18443,"date":"2021-02-03T14:35:52","date_gmt":"2021-02-03T14:35:52","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=18443"},"modified":"2021-02-03T14:35:52","modified_gmt":"2021-02-03T14:35:52","slug":"signings-surge-to-highest-rate-ever-in-december","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/signings-surge-to-highest-rate-ever-in-december\/","title":{"rendered":"Signings Surge to Highest Rate Ever in December"},"content":{"rendered":"

Signings Surge to Highest Rate Ever in December<\/h1>\n

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Pending home sales reached a record high for December last month as the unseasonable housing surge continued in markets across the country during the COVID-19 pandemic.<\/p>\n

Pending sales were up 21.4% year over year in December, reaching the highest reading for a December on the National Association of REALTORS\u00ae\u2019 Pending Home Sales Index. All major regions of the U.S. recorded double-digit increases annually.<\/p>\n

However, the index\u2014a forward-looking indicator of home sales based on contract signings\u2014did drop slightly, by three-tenths of a percentage point, in December compared to November. December\u2019s index reading was 125.5. (An index of 100 is equal to the level of contract activity in 2001.) The slight month-over-month decline was blamed on fewer contract signings in the Midwest, NAR said. In other regions, contract signings saw an uptick or stayed flat in December.<\/p>\n

Housing shortages continue to press on the housing market. \u201cPending home sales contracts have dipped during recent months, but I would attribute that to having too few homes for sale,\u201d said Lawrence Yun, NAR\u2019s chief economist. \u201cThere is a high demand for housing and a great number of would-be buyers, and therefore sales should rise with more new listings. This elevated demand without a significant boost in supply has caused home prices to increase and we can expect further upward pressure on prices for the foreseeable future.\u201d<\/p>\n

Yun projects that 2021 will see strong economic growth, supported by low mortgage rates and fiscal stimulus, that could help increase existing-home sales. He predicts the 30-year fixed-rate mortgage to stay near record lows, averaging 3%. He added that these low mortgage rates likely will help bolster existing-home sales to 6.49 million this year, which would be a 15% increase over the total 5.64 million sales in 2020.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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National Association of REALTORS\u00ae’ Pending Home Sales Index<\/a><\/div>\n
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\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Share this:<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Signings Surge to Highest Rate Ever in December   Pending home sales reached a record high for December last month as the unseasonable housing surge continued in markets across the country during the COVID-19 pandemic. Pending sales were up 21.4% year over year in December, reaching the highest reading for a December on the National … <\/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-18443","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":"\nSignings Surge to Highest Rate Ever in December - 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\/signings-surge-to-highest-rate-ever-in-december\/\" \/>\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\\\/signings-surge-to-highest-rate-ever-in-december\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/signings-surge-to-highest-rate-ever-in-december\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Signings Surge to Highest Rate Ever in December\",\"datePublished\":\"2021-02-03T14:35:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/signings-surge-to-highest-rate-ever-in-december\\\/\"},\"wordCount\":320,\"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\\\/signings-surge-to-highest-rate-ever-in-december\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/signings-surge-to-highest-rate-ever-in-december\\\/\",\"name\":\"Signings Surge to Highest Rate Ever in December - 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