Pending Home Sales Flop

Pending home sales flopped in May as inventory continued to drag on the housing market, down 0.8 percent in the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI). The PHSI posted 108.5 in May, down from 109.4 in April. The Index is based on contract signings. “Monthly closings have recently been oscillating back […]

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Low Supply Undercuts Pending Home Sales in March

Pending home sales were undercut by low supply in March, ticking down 0.8 percent in the National Association of REALTORS® (NAR) recently released Pending Home Sales Index (PHSI). The PHSI posted 111.4 in March, down from 112.3 in February. “Home shoppers are coming out in droves this spring and competing with each other for the […]

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WATCH: Lawrence Yun Discusses March Pending Sales, Inventory and Lumber

After last week’s report of a solid 4.4 percent jump in existing-home sales in March, signed contracts to purchase homes split the other way, inching backward 0.8 percent. The reason, according to NAR Chief Economist Lawrence Yun, is simple: too few homes for sale to match the sizable demand this spring to buy a home. […]

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