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17.06.26 - 17:24
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"Late Spring Buyer Rush": US Pending Home Sales Just Surged By The Most In Almost 2 Years (ZeroHedge)
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"Late Spring Buyer Rush": US Pending Home Sales Just Surged By The Most In Almost 2 Years
Pending home sales in the US were expected to rise for the fourth straight month in May and they did with a huge beat (+3.8% MoM vs +0.9% MoM exp - above the highest analysts estimate), which was slightly offset by a downward revision for April (from +1.4% to +0.3%).
That is the best monthly improvement in pending home sales since Sept 2024 and that lifted sales by just over 2% YoY.
“A late spring buyer rush - even with mortgage rates not budging - is an indication of pent-up housing demand and consumers' acceptance of above-6% mortgage rates as the new normal,” NAR Chief Economist Lawrence Yun said in a release.
The Pending Home Sales Index is now at its highest since Nov 2025, after bouncing back from record lows in January...
There has been a notable decoupling between rates and pending sales with the recent rise in rates coinciding with a rise in sales (but of course, sales are lagged r...
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16.06.26 - 14:54
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US Housing Starts Collapsed In May To Lowest Since COVID (ZeroHedge)
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US Housing Starts Collapsed In May To Lowest Since COVID
With housing inventories at recent highs, the US housing market just suffered another sentiment setback as Housing Starts crashed by 15.4% MoM in May (far worse than 2% drop expected and worse since March 2024)), following a revised 8.5% MoM drop in April. Building Permits slipped 0.7% MoM (in line with expectations)...
Source: Bloomberg
That pulls the Housing Starts SAAR to its lowest since COVID (after reaching the highest since 2024 in April)...
Source: Bloomberg
Under the hood, it was multi-family (rental) starts that collapsed:
Housing Starts single-family drop from 899K (revised lower from 930K) to 882K
Housing Starts multi-family drop from 486K (revised lower from 529K) to 284K
Source: Bloomberg
Did 'renter nation' just die?
Multifamily permits also fell...
Housing Permits single-family rise from 881K (revised higher from 872K) to 886K
Housing Permits multi-family drop from 491K (revised lower from 514K) to 474K
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15.06.26 - 22:30
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US Property Foreclosure Filings Increase 14% Year Over Year (ZeroHedge)
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US Property Foreclosure Filings Increase 14% Year Over Year
Authored by Naveen Athrappully via The Epoch Times,
There were a total of 40,355 U.S. properties with foreclosure filings in May—down 5 percent month-over-month but up by 14 percent compared to the same period in 2025.
“The increase marks the continuation of a trend of rising foreclosure activity on an annual basis,” real estate analytics company ATTOM said in a June 11 statement.
In April, foreclosure filings were up 18 percent from a year back. And in the first quarter of 2026, filings were up 26 percent compared to Q1 of 2025.
“Lenders repossessed 4,092 U.S. properties through completed foreclosures (REOs) in May 2026, down 20 percent from the previous month but up 6 percent from a year ago,” ATTOM said.
Foreclosure is a legal process by which a mortgage lender repossesses a property due to borrower's failure to make mortgage payments. The lender initially issues a notice of default when payments are missed for 90 days....
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09.06.26 - 17:42
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US Existing Home Sales Unexpectedly Jumped In May, Inventories Surge (ZeroHedge)
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US Existing Home Sales Unexpectedly Jumped In May, Inventories Surge
With the Spring selling season in tatters, existing home sales were expected to rebound in May very modestly (+1.1% MoM) off recent record lows, but instead they outperformed, rising at 3.2% MoM (and April's 0.2% MoM rise was revised higher to a +0.7% MoM rise). That lifted existing home sales up 3.22% YoY - the strongest since September 2025...
Source: Bloomberg
That beat lifted existing home sales SAAR to its highest level of the year (but not exactly signaling a trend)...
Source: Bloomberg
“More Americans are on the move, with home sales rising to the highest level since December,” Lawrence Yun, NAR's chief economist, said in a statement.
“This is great news for the housing market and the economy.”
Sellers are giving up some ground on price and “meeting buyers where they are,” Realtor.com said.
In May, the median sales price of an existing home climbed 1.3% from a year ago to $429,300, NAR data show.
Meanti...
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