The National Association of Realtors is reporting that pending home sales rose 0.6% in in August, 2024. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 70.6 in August.
“A slight upward turn reflects a modest improvement in housing affordability, primarily because mortgage rates descended to 6.5% in August…However, contract signings remain near cyclical lows even as home prices keep marching to new record highs.” Said the NAR’s Chief Economist, Lawrence Yun.
Click here to read the full report at the National Association of Realtors.
