The National Association of Realtors is reporting that pending home sales were up 1.5% in March and down 1.1% year over year. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 73.7 in March. They say sales improved slightly, with sales rising in the Northeast and South, and declining in the Midwest and West.
“Contract signings rose in March despite higher mortgage rates, pointing to pent-up housing demand…A greater supply of inventory will help translate that demand into more home sales.” Said the NAR’s Chief Economist, Lawrence Yun.
Click here to read the full report at the NAR.
Discover more from Real Estate Investing Today
Subscribe to get the latest posts sent to your email.
