Tag Archives: Contract Signings

A new report from the National Association of Realtors revealed contract signings rose in July, as pending home sales also increased for the second month in a row, according to NAR's latest Pending Home Sales Index.

"Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing," said NAR Chief Economist Lawrence Yun. "The lack of housing inventory continues to prevent housing demand from being fully realized."

Pending home sales recorded the second-lowest monthly reading in 20 years as pending transactions dropped by nearly 40% year-over-year, while contract signings also slipped from October.

According to a new report from Redfin, one-third fewer homes went under contract in October compared to last year.

The National Association of Realtors’ latest Pending Home Sales Index showed transactions sliding by 31% year-over-year. Contract signings also pulled back in all four major U.S. regions, with inflated mortgage rates continuing to hinder homebuyers from purchasing a home.

A fast-moving competitive market didn’t help pending home sales that came in at the second-lowest level in the past year. This video explains the headwinds facing home sales this season.