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Making Sense of Home Sales

 

Video Spotlight February saw a minor drop in pending home sales. In this video spotlight, National Association of Realtors Chief Economist Lawrence Yun discusses how to make sense of the decline.

“In January, pending contracts were up close to 5 percent, so this month’s 1 percent drop is not a significant concern,” Yun said. “As a whole, these numbers indicate that a cyclical low in sales is in the past but activity is not matching the frenzied pace of last spring.”

According to Yun, sales in the West are below 2018's activity depite recent growth.

“There is a lack of inventory in the West and prices have risen too fast," Yun stated. "Job creation in the West is solid, but there is still a desperate need for more home construction.”

Watch the video here.

 

About Author: Seth Welborn

Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer.
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