More than expected…deferred housing sales increased in America

Data issued by the US National Association of Real Estate Developers revealed that deferred home sales in the United States rose more than expected last month.
The index, which measures the movement of deferred sales, rose by 2.2% during the past month to 79 points, after rising by 1.8% to 77.3 points during the previous month, according to the revised data.

Deferred housing sales in America

Analysts had expected the index to rise by only 0.7%, and the index continued to rise for the fourth month in a row, reaching its highest level since February of last year.
Deferred sales are those in which an initial contract is signed between the two parties without completing the deal, which usually takes place within a period of 4 to 6 weeks from signing the contract.
“Consumers appear to be reassessing their expectations for mortgage benefits and trying to take advantage of excess supply,” Lawrence Yun, chief economic analyst at the National Association of Real Estate Developers, said in a statement.

Real estate financing in America

The average real estate financing interest over the past 24 months was more than 6%, and buyers are no longer waiting or expecting a significant decrease in interest.”
The National Federation of Real Estate Developers report indicated that the larger-than-expected increase in sales came thanks to their rise in the American South, where they increased there by 5.2%.
It also increased in the West by 0.5% and in the Midwest by 0.4%, while it decreased in the Northeast by 1.3% over the past month.

New home sales in America

Last week, the US Department of Commerce published a report that showed a significant rise in new home sales during November.
The ministry said that sales increased last month by 5.9% to the equivalent of 664,000 homes annually.
This is after a decline of 14.8% to the equivalent of 627 thousand homes annually during the previous month.