{"id":19735,"date":"2021-12-01T13:31:02","date_gmt":"2021-12-01T13:31:02","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19735"},"modified":"2021-12-01T13:31:02","modified_gmt":"2021-12-01T13:31:02","slug":"home-buyers-eager-to-act-sooner-rather-than-later","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/home-buyers-eager-to-act-sooner-rather-than-later\/","title":{"rendered":"Home Buyers Eager to Act Sooner Rather Than Later"},"content":{"rendered":"

Home Buyers Eager to Act Sooner Rather Than Later<\/h1>\n

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Contract signings climbed 7.5% in October, and home sales for 2021 are on pace to hit a 15-year high, the National Association of REALTORS\u00ae reported Monday. Pending home sales rebounded after a decline in September.<\/p>\n

Despite rising mortgage rates<\/a>, home buyers appear undeterred by higher financing costs and home prices. Contract activity increased month over month in all four major regions of the U.S. NAR\u2019s Pending Home Sales Index is a forward-looking indicator of home sales based on contract signings.<\/p>\n

\u201cMotivated by fast-rising rents and the anticipated increase in mortgage rates, consumers that are on strong financial footing are signing contracts to purchase a home sooner rather than later,\u201d says Lawrence Yun, NAR\u2019s chief economist. \u201cThis solid buying is a testament to demand still being relatively high, as it is occurring during a time when inventory is still markedly low.\u201d<\/p>\n

Yun notes that the gain in October assures that total existing-home sales in 2021 will exceed 6 million. That will mark the top performance in home sales in 15 years, Yun says.<\/p>\n

He does forecast, however, home prices will increase at a \u201cgentler pace\u201d over the next several months and expects demand to be milder as mortgage rates increase. The 30-year fixed-rate mortgage averaged 3.10% last week, up from a 2.72% average a year ago, Freddie Mac reports.<\/p>\n

Last month, contract signings increased at the strongest pace in the Midwest and South regions. The Northeast increased 6.9% in October, but contract signings are still down 10% from a year ago. The Midwest saw contract signings climb 11.8% in October; pending home sales are up 5.1% from a year ago.<\/p>\n

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

Home Buyers Eager to Act Sooner Rather Than Later   Contract signings climbed 7.5% in October, and home sales for 2021 are on pace to hit a 15-year high, the National Association of REALTORS\u00ae reported Monday. Pending home sales rebounded after a decline in September. Despite rising mortgage rates, home buyers appear undeterred by higher … <\/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-19735","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 Buyers Eager to Act Sooner Rather Than Later - 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-buyers-eager-to-act-sooner-rather-than-later\/\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-buyers-eager-to-act-sooner-rather-than-later\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-buyers-eager-to-act-sooner-rather-than-later\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Home Buyers Eager to Act Sooner Rather Than Later\",\"datePublished\":\"2021-12-01T13:31:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-buyers-eager-to-act-sooner-rather-than-later\\\/\"},\"wordCount\":293,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-buyers-eager-to-act-sooner-rather-than-later\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/magazine.realtor\\\/sites\\\/default\\\/files\\\/styles\\\/asset_image_full_content\\\/public\\\/assets\\\/images\\\/NAR_PHS_OCT%202021.png?itok=teNONa9L\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-buyers-eager-to-act-sooner-rather-than-later\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-buyers-eager-to-act-sooner-rather-than-later\\\/\",\"name\":\"Home Buyers Eager to Act Sooner Rather Than Later - 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