From GlobeNewswire: 2024-04-25 10:00:00

Pending home sales saw a 3.4% increase in March, with gains in the Northeast, South, and West, but a decline in the Midwest. The Northeast PHSI rose 2.7%, the Midwest fell 4.3%, the South improved by 7.0%, and the West rose 6.8%. NAR forecasts existing-home sales to rise by 9% in 2024 and another 13.2% in 2025. Median home prices are expected to increase by 1.8% in 2024 and another 1.8% in 2025. Lawrence Yun, the NAR Chief Economist, emphasizes the importance of declining mortgage rates and rising inventory for continued growth in the housing market.



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