Tag Archives: PHSI

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."

NAR’s latest report reveals pending home sales were down across the U.S. on a year-over-year basis. Click through to find out what else the report revealed.

However, while monthly numbers show a short-term improvement, the National Association of Realtors found the market to be down nearly 25% year-over-year.

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.

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.

Pending home sales inched higher in May, ending a six-month streak of declines, according to the National Association of Realtors. Regionally, month-over-month results were mixed as the Northeast and South experienced increases while the Midwest and West posted decreases. Year-over-year ...