The National Association of Realtors is reporting that pending home sales were up 0.3% in June, 2023. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 76.8 in June. The NAR says this is the first increase since February with sales only growing in the Northeast and Midwest regions.
“The recovery has not taken place, but the housing recession is over…The presence of multiple offers implies that housing demand is not being satisfied due to lack of supply. Homebuilders are ramping up production and hiring workers.” Said the NAR’s Chief Economist, Lawrence Yun.
Click here to read the full report at the National Association of Realtors.
