The National Association of Realtors is reporting that pending home sales were unchanged (from March) in April, 2023. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) remained at 78.9 in April. However, the NAR says three U.S. regions posted monthly gains while the Northeast decreased. Once again, limited inventory is the prime culprit.
“Not all buying interests are being completed due to limited inventory…Affordability challenges certainly remain and continue to hold back contract signings, but a sizeable increase in housing inventory will be critical to get more Americans moving.” Said the NAR’s Chief Economist, Lawrence Yun.
Click here to read the full report at the National Association of Realtors.
