Economic National Real Estate Update ~ Pending home sales, a forward-looking indicator rose 0.4% in April – following a 3.4% increase in March. On a year-over-year basis, April pending home sales were down 9.2% overall in the US.
The Standard & Poor’s/Case-Shiller 20-city housing price index (the most recognized index nationally) on a seasonally adjusted basis – rose 0.9% in March after a flat reading in February 2014. On a year-over-year basis, prices have risen 12.4% when compared with March 2013.
The Mortgage Bankers Association (MBA) said its seasonally adjusted composite index of mortgage applications for the week ending May 23, 2014 fell 1.2% from the previous week. Purchase volume fell 1%. Refinancing applications decreased 1% as well.
That is all for now…