Pending home sales in the U.S. fell by 2.1% in May, with regional variations
From GlobeNewswire: 2024-06-27 10:24:00
Pending home sales across the U.S. dropped by 2.1% in May, with the Midwest and South experiencing declines while the Northeast and West saw increases. Year-over-year, all regions reported a decrease in pending transactions. The National Association of Realtors® predicted a rise in existing-home sales to 4.26 million in 2024 and 4.92 million in 2025, along with a median existing-home price increase to $405,300 in 2024 and $412,000 in 2025. NAR Chief Economist Lawrence Yun stated that the market is experiencing rising inventory and lower demand, indicating easing home price appreciation in the coming months.
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