NAR

A gauge of pending home sales fell for the third consecutive month in November, suggesting higher prices and limited inventory are slowing momentum in the housing market despite record-low borrowing costs.

Sales of previously owned homes fell in November for the first time in six months, suggesting that surging prices and a record-low supply are constraining red-hot demand.

A gauge of contract signings to purchase previously owned homes unexpectedly declined for a second month in October as higher prices and a limited number of listings impeded momentum in the housing market.

Closed sales of single-family homes in the Hartford region increased 36.31% in October compared to a year ago, the Greater Hartford Association of Realtors reported.

“What Realtors did was an outrage to our morals and our ideals,” the incoming president of the National Association of Realtors, Charlie Oppler said Thursday.

The remarks from the National Association of Realtors’ incoming president followed a vote by its board to ban “harassing or hate speech” within its code of conduct.

A gauge of pending home sales unexpectedly declined in September for the first time in five months, a sign elevated asking prices and lean supply are tempering the boom in housing despite the record-low interest rates.

Sales of previously owned homes rose more than expected in September to the highest level in 14 years as a desire for more space and record-low mortgage rates continue to support demand.

Pending home sales rose more than expected in August, reaching the highest level on record as low mortgage rates fuel a housing rally.

Sales of previously owned homes remained brisk in August as low mortgage rates and demand for space in the suburbs sustained strength in a housing market that’s a bright spot for the economy.