U.S. pending home sales decline in June
Source: Reuters
JULY 29, 2021 10:03 AM UPDATED 6 HOURS AGO
U.S. pending home sales decline in June
By Evan Sully
2 MIN READ
July 29 (Reuters) - Contracts to purchase previously owned U.S. homes declined in June in step with a spike in home prices after rebounding strongly in the prior month.
The National Association of Realtors (NAR) said on Thursday its Pending Home Sales Index, based on contracts signed last month, fell 1.9% to 112.8. Economists polled by Reuters had forecast pending home sales would increase 0.3%.
Pending home sales for May were revised to show an increase of 8.3% instead of the 8.0% gain previously reported.
Pending home contracts are seen as a forward-looking indicator of the health of the housing market because they become sales one to two months later.
“Pending sales have seesawed since January, indicating a turning point for the market,” Lawrence Yun, NAR’s chief economist, said in a statement. “Buyers are still interested and want to own a home, but record-high home prices are causing some to retreat.”
Compared with one year ago, pending home sales were down 1.9%.
Read more: https://www.reuters.com/article/usa-economy-housing/us-pending-home-sales-decline-in-june-idUSL1N2P42UX
Hat tip, OANN. You don't have to like it, but that's where I read about this. They're the source, and I have to give them attribution.
One America News Retweeted
https://twitter.com/OANN
#MORE Pending sales by region:
Northeast: +0.5% in June, +8.7% year-over-year
Midwest: +0.6% monthly, -2.4% annually
South: -3% monthly, -4.7% from June 2020
West: -3.8% monthly, -2.6% annually
Link to tweet
#NEW Pending home sales fall in June as buyers pull back from hot market
@nardotrealtor
reports number of purchase contracts signed fell 1.9% last month and 1.9% year-over-year
Data from
@realtordotcom
shows the number of newly listed homes in June rose 5.5% year-over-year
Link to tweet
= new reply since forum marked as read
