The National Association of Realtors is reporting that pending home sales were up 1.4% in April and up 3.2% year over year. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 74.8 in April. They say buyers have cautious optimism:
“Buyers are coming out with cautious optimism despite increasing economic uncertainty and a slight rise in mortgage rates…Demand will easily be even higher once mortgage rates retreat to the levels they were at earlier this year.” Said the NAR’s Chief Economist, Lawrence Yun.
Click here to read the full report at the NAR.
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