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After dipping in January, the index for pending home sales rose 1.6% in February, according to data from the National Association of Realtors (NAR) released Thursday. The reading of 75.6 was the ...
Pending sales activity in the South increased 7% and was down just 1.5% from the previous year. Meanwhile, contract signings in the Midwest fell 4.3% in March but remained just 1% above 2023 levels.
Pending sales in the South jumped 12% in December, rising 1.5% from the previous year. Meanwhile, the West recorded a 14% uptick in pending transactions, up 1.5% from December 2022.
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Despite the March gain, pending home sales are still “in a fairly narrow range over the last 12 months without a measurable breakout,” NAR’s chief economist, Lawrence Yun, said in a release.
In the West, pending home sales registered an uptick of 0.5% but were down 7% from a year earlier. Pending transactions in the Northeast increased 0.8% last month but were 5.5% below year-ago levels.
Pending sales slid 8.1% in the Northeast, 10.7% in the Midwest, and 8.0% in the West. Only the South registered a monthly increase in March of 0.2%. Versus a year ago, pending home sales dropped ...
US pending home sales dropped 7.1% in August from the month prior as mortgage rates surging over 7% in August to levels not seen in 20 years packed a punch.