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.
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A new report from the National Association of Realtors shows pending home sales numbers improving on a monthly basis for the first time in six months. Click through to read Chief Economist Lawrence Yun’s thoughts on the matter.
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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.
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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.
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