The National Association of Realtors is reporting that pending home sales dropped 5.5% in in July, 2024. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 70.2 in July – the lowest reading since the index began tracking in 2001.
“A sales recovery did not occur in midsummer…The positive impact of job growth and higher inventory could not overcome affordability challenges and some degree of wait-and-see related to the upcoming U.S. presidential election.” Said the NAR’s Chief Economist, Lawrence Yun.
Click here to read the full report at the National Association of Realtors.
