The National Association of Realtors is reporting that pending home sales rose 1.1% in September, 2023. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 72.6 in September. The NAR says all four U.S. regions saw year-over-year declines in transactions.
“Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years…Furthermore, inventory remains tight, which hinders sales but keeps home prices elevated..” Said the NAR’s Chief Economist, Lawrence Yun.
Click here to read the full report at the National Association of Realtors.
