The National Association of Realtors is reporting that pending home sales in November, 2023 were virtually the same as October’s numbers. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 71.6 in November. The NAR says pending home sales dropped in all four U.S. regions compared to one year ago.
“Although declining mortgage rates did not induce more homebuyers to submit formal contracts in November, it has sparked a surge in interest, as evidenced by a higher number of lockbox openings,” said Lawrence Yun, NAR chief economist.
Click here to read the full report at the National Association of Realtors.
