Pending Home Sales and Consumer Demand

February 27, 2015

by Mike Simonsen

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So far this year, home sales volume is about 10% higher than 2014.

Today’s Pending Home Sales release from NAR is starting to show the moderately healthy housing demand we’ve been talking about for the past few months.

Altos Research had already anticipated this trend because of strength in weekly readings of our proprietary Estimated Sales number (which takes into account failed deals and other churn in the active market).

You can see the trough of sales volume each January 1 (red line). Recall from the previous few posts, that inventory is still low, and 2015 will be a supply-constrained market yet again. The yellow line below is the smoothed 90-day rolling average which will start climbing in March on the spring schedule.

More on how you can use Altos data here.

pending Home Sales Pending Home Sales as predicted by Altos Research Estimated Sales metric. Single Family Homes. Altos 20-City National Composite

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