11月成屋签约销售指数攀升至79，创下2023年2月以来的最高水平。In November, the USA's existing home sales Index has increased for the fourth consecutive month on a month-on-month basis. NAR's Chief Economist Lawrence Yun stated that consumers seem to have readjusted their expectations for mortgage rates and are taking advantage of more available inventory. Buyers are no longer waiting or expecting a significant drop in mortgage rates.
On Monday, data released by the National Association of Realtors (NAR) in the USA showed that the Index for existing home sales contracts in November reached its highest level since the beginning of 2023, with a month-on-month increase exceeding expectations. This marks the fourth consecutive month of month-on-month growth for the Index.
In the USA, the Index for existing home sales contracts increased by 2.2% month-on-month in November, compared to an expected increase of 0.8%, and the previous value for October was an increase of 2%. The unadjusted year-on-year Index for existing home sales contracts in the USA for November rose by 5.6%, while the expectation was a 7.9% increase, and the previous value for October was an increase of 6.6%.
The Index for existing home sales contracts climbed to 79 in November, marking the highest level since February 2023.
Regionally, the South led with a monthly increase of 5.2%, while the increases in the West and Midwest were smaller, and the Northeast region saw a decline.
NAR Chief Economist Lawrence Yun stated in a message:
Consumers seem to have readjusted their expectations for mortgage rates and are leveraging more available inventory. Buyers are no longer waiting for or expecting a significant drop in mortgage rates.
The financial blog Zerohedge commented that considering the lag in the home buying process, it is doubtful that this hopeful rebound in home sales will be very brief, also doubting that more rate cuts by the Federal Reserve would help.
Media analysis indicates that high home prices in the USA and rising borrowing costs continue to put pressure on housing affordability. Federal Reserve officials have stated after the December policy meeting that they expect the pace of rate cuts to slow in 2025, which means homebuyers will not have a breather in the short term.
The Pending Home Sales Index is viewed as a leading indicator of existing home sales because properties typically enter into contract one to two months before they are sold.
