Category: Home News

Surprise drop in September home sales as buyers get priced out

A Sale Pending sign is seen in front of a home in Miami, Florida.

Joe Raedle | Getty Images

Potential homebuyers may be hitting the limit of what they can afford. Pending home sales, a measure of signed contracts on existing homes, fell 2.2% in September compared with August, according to the National Association of Realtors.

It was the first monthly decline in 4 months. Analysts had expected a small monthly gain. Pending sales were 20.5% higher annually.

The Northeast, which is seeing distinct urban flight from New York City amid the coronavirus pandemic, was the only region to post


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Home prices see biggest gains in more than 2 years: S&P Case Shiller

Strong demand and a limited supply of homes have caused home price gains to accelerate dramatically.

Prices beat expectations, rising 5.7% annually in August, up from 4.8% in July, according to the S&P CoreLogic Case-Shiller National Home Price Index.

The 10-City Composite posted a 4.7% gain, up from 3.5% in the previous month. The 20-City Composite rose 5.2% year-over-year, up from 4.1% in July. Detroit was not included in the findings, due to insufficient data reporting. All 19 cities for which data was reported rose monthly and annually, with all 19 seeing larger annual gains than in July.

“A trend


Why At Home Group Dropped 20% Today

What happened

Shares of specialty retailer At Home Group (NYSE:HOME) are down more than 20% today after the company released preliminary third-quarter earnings results. Expected net sales growth of 47% compared to the year-ago period apparently wasn’t enough. 

But the reaction isn’t new for shareholders of the home decor retailer. Shares have been on a see-saw ride since the company released preliminary second-quarter results on July 29, then actual second-quarter results on Sept. 1, and through today. 

HOME Chart

HOME data by YCharts

So what

Today’s news release said comparable-store sales are expected to be up approximately 44% for


September existing home sales jump 9.4%

Pedestrians walk past a home with a “Sold” sign in San Francisco.

David Paul Morris | Bloomberg | Getty Images

Sales of existing homes rose a higher-than-expected 9.4% in September to a seasonally adjusted annualized rate of 6.54 million units, according to the National Association of Realtors. Sales were up 20.9% annually.

Sales could be more robust if there were more homes available. The inventory of homes for sale fell 19.2% annually to just 1.47 million homes for sale at the end of September. At the current sales pace that represents a 2.7-month supply. That is the lowest since the