A glimpse at the current state of the housing market.

Despite strong buyer interest, continuing inventory shortages led to a dip in closed sales in February. NAR Chief Economist Lawrence Yun says higher interest rates are also putting pressure on some would-be buyers. In a positive sign going into summer, NAR’s forward-looking pending home sales index showed contract signings moving higher in February.

 

The referenced media source is missing and needs to be re-embedded.

 

 

The referenced media source is missing and needs to be re-embedded.
Smoother Financing

The percentage of transactions delayed because of financing problems has steadily improved over the last two years, suggesting buyers are finding mortgage loans easier to close.

Financing-related snags remain the top transaction problem, accounting for 30 percent of all delays. Appraisal issues, at 22 percent, are the next biggest reported holdup.


Source: NAR Research

Advertisement