Robert Besser
07 May 2025, 02:15 GMT+10
WASHINGTON, D.C.: More people signed contracts to buy previously owned homes in the U.S. in March than in any month in over a year, helped by lower mortgage rates.
The National Association of Realtors (NAR) said its Pending Home Sales Index, which tracks signed contracts, rose by 6.1 percent to 76.5. This was the most significant jump since December 2023.
Experts had expected only a 1.0 percent increase. However, the number of pending sales was still 0.6 percent lower than the same time last year.
NAR's chief economist, Lawrence Yun, said buyers react quickly to even small changes in mortgage rates. He added that the rise in signed contracts suggests many people are ready to buy, thanks to steady job growth.
Mortgage rates dropped to 6.65 percent in March, down from 7.04 percent in mid-January, according to Freddie Mac.
Get a daily dose of Dublin News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Dublin News.
More InformationNEW YORK, New York - U.S. stock markets retreated on Tuesday, with major indices posting losses amid renewed economic concerns, while...
WASHINGTON, D.C.: More people signed contracts to buy previously owned homes in the U.S. in March than in any month in over a year,...
BEIJING, China: Homeowners in China are slashing prices to attract buyers as a growing number of resale properties flood the market....
TOKYO, Japan: Toyota is taking a fresh step toward autonomous driving by teaming up with Waymo to co-develop new vehicle platforms...
NEW YORK, New York - U.S. stocks were volatile Monday as the focus remained on tariffs, and the perceived lack of trade deals despite...
SEATTLE, Washington: Amazon.com is ramping up its delivery game in rural America, announcing a US$4 billion investment to grow its...
DUBLIN, Ireland: April 2025 marked the third-warmest April in Ireland since records began in 1900, according to Met Eireann, which...
DUBLIN, Ireland - Two men have been charged and appeared before the Criminal Courts of Justice in Dublin on Monday following Friday's...
TEL AVIV, Israel - Lieutenant General Ingo Gerhartz, Chief of the German Air Force, visited Israel this week in his final official...
DUBLIN, Ireland: Ryanair has issued a sharp warning: if U.S. tariffs under President Donald Trump's trade policies raise the cost of...
DUBLIN, Ireland: April 2025 saw a slight improvement in the labor market, with the seasonally adjusted unemployment rate dropping to...
ATLANTA, Georgia: United Parcel Service is cutting 20,000 jobs and closing dozens of facilities, marking one of its biggest shakeups...