{"id":1789997,"date":"2022-12-29T06:08:08","date_gmt":"2022-12-29T11:08:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1789997"},"modified":"2022-12-29T15:49:33","modified_gmt":"2022-12-29T20:49:33","slug":"u-s-home-sales-fall-again-posts-second-lowest-monthly-reading-in-20-years","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-home-sales-fall-again-posts-second-lowest-monthly-reading-in-20-years\/","title":{"rendered":"U.S. Home Sales Drop Again. This is the Second-Lowest Monthly Reading in 20 years"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-home-sales-fall-again-posts-second-lowest-monthly-reading-in-20-years%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1789997&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p>According to the National Association of Realtors, U.S. pending home sales fell 4 percent in November<a href=\"https:\/\/www.nar.realtor\/research-and-statistics\/housing-statistics\/pending-home-sales\">NAR<\/a>). Although this is an increase from October&#8217;s 4.6 percent decline, it was still below the market estimate of a dip of 0.8 percent.<\/p>\n<p>Year-over-year, the decline in pending home sales was 37.8 percent. This is down from the previous month&#8217;s 37 percent drop. Trading Economics forecasted a negative 32 percent print.<\/p>\n<p>Pending home sales\u2014a crucial measurement of housing activity based on signed real estate contracts for existing residential properties\u2014recorded their second-lowest monthly figure in two decades, the NAR reported. This is also the fifth consecutive month of declines in pending homes sales.<\/p>\n<p>\u201cPending home sales in November 2022 recorded the second-lowest monthly reading in 20 years as interest rates climbed, drastically cutting into the number of contract signings to buy a home,\u201d Lawrence Yun, chief economist at NAR, said this in the report. \u201cWith <a href=\"https:\/\/www.theepochtimes.com\/t-mortgage-rates\">mortgage rates<\/a> falling throughout December, home-buying activity should inevitably rebound in the coming months and help economic growth.\u201d<\/p>\n<p>The NAR confirmed this last week <a href=\"https:\/\/www.nar.realtor\/research-and-statistics\/housing-statistics\/existing-home-sales\">existing home sales<\/a> The November plunge was 7.7 per cent, or 4.09 millions units. This was a decrease from November&#8217;s negative 5.9 percent performance and the tenth consecutive monthly decline.<\/p>\n<p> Looking ahead to 2023 <\/p>\n<p>The National Association of Home Builders, (NAHB) held their August conference. <a href=\"https:\/\/www.nahb.org\/blog\/2022\/08\/housing-recession-deepens\">declared a recession<\/a> The national real estate markets. Robert Dietz, NAHB&#8217;s chief economist, recently suggested that the housing sector could have hit a bottom. But the latest data suggests that nearly every sector has seen decade-low readings.<\/p>\n<p> <a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2021\/11\/16\/home-sale-1229723697-1200x804.jpg\"><\/a> A house\u2019s real estate for sale sign shows the home as being \u201cUnder Contract\u201d Washington, D.C., November 19, 2020 (Saul Loeb\/AFP via Getty Images). <\/p>\n<p>James Knightley, the chief international economist at ING, echoed this sentiment and stated that the \u201cU.S.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the National Association of Realtors, U.S. pending home sales fell 4 percent in NovemberNAR). Although this is an increase from October&#8217;s 4.6 percent decline, it was still below the market estimate of a dip of 0.8 percent. Year-over-year, the decline in pending home sales was 37.8 percent. This is down from the previous &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1790000,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[4237,5458,5053,5395,10176,3819,5219,12443,7238],"class_list":["post-1789997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-again","tag-bongino","tag-drop","tag-monthly","tag-reading","tag-report","tag-sales","tag-second-lowest","tag-u-s"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1789997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1789997"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1789997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1790000"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1789997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1789997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1789997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}