The National Association of Realtors is reporting that pending home sales were up 0.9% in July, 2023. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 77.6 in July. The NAR says all four U.S. regions saw year-over-year declines in transactions.
“Jobs are being added and, thereby, enlarging the pool of prospective home buyers. However, rising mortgage rates and limited inventory have temporarily hindered the possibility of buying for many.” Said the NAR’s Chief Economist, Lawrence Yun.
Click here to read the full report at the National Association of Realtors.
