Pending home sales increased by 4.8% in June in all U.S. regions, signaling positive market growth.

From GlobeNewswire: 2024-07-31 10:00:00

Pending home sales rose 4.8% in June, with gains in all U.S. regions. Year-over-year, Northeast, Midwest, and South saw declines, while the West improved. The Pending Home Sales Index reached 74.3 in June, down 2.6% from last year. Lawrence Yun, NAR Chief Economist, noted increasing housing inventory leading to more signings. Expected market growth could lead to more listings in the upcoming months. Northeast saw a small gain due to housing shortages, prompting stronger price gains. The index, a leading indicator for housing, helps predict upcoming sales closings. Variations in time from pending contracts to sale can affect final sales figures.



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