From GlobeNewswire: 2024-05-30 10:00:00

Pending home sales decreased by 7.7% in April according to the National Association of Realtors®. Contract signings dropped in all regions compared to the previous month and one year ago, with the Midwest and West experiencing the largest declines. The Pending Home Sales Index fell to 72.3 in April, down 7.4% from last year. NAR Chief Economist Lawrence Yun cited escalating interest rates as a factor, but anticipates improved conditions with a Federal Reserve rate cut. Despite record high home prices, Yun believes the pace of gains will slow as more supply enters the market.



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