Pending Home Sales Up 16.6% in June

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The National Association of Realtors is reporting that pending home sales surged 16.6% in June – marking two consecutive months of increases.  The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) rose to 116.1 with every major region experiencing an increase in month-over-month contract activity.  In addition, they reported that year-over-year contract signings were up 6.3%.  Indeed….

“It is quite surprising and remarkable that, in the midst of a global pandemic, contract activity for home purchases is higher compared to one year ago,” said Lawrence Yun, NAR’s chief economist. “Consumers are taking advantage of record-low mortgage rates resulting from the Federal Reserve’s maximum liquidity monetary policy.”

Click here to read the full report at the National Association of Realtors.

 

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Director of Education & Outreach, National Real Estate Investors Association

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