Pending home sales based on contract signings in September increased 6% from the year before, according to the National Association of Realtors. The index is based on signed sales of existing single-family homes, condos and co-ops. The transactions have yet to close, making it a forward-looking projection from the trade group. Pending home sales were down 4.6% from the month before, but that is a typical seasonal drop. NAR Chief Economist Lawrence Yun blamed a combination of weaker consumer confidence and tighter requirements from banks. The index showed the highest increase from last year in the Midwest, with pending sales there 12.3% higher than they were last year. The area, however, showed the sharpest monthly decrease at 6.2%. Pending sales in the Northeast were 4% above the year before, the smallest increase. Write to Jon Prior. Follow him on Twitter @JonAPrior.
Pending home sales up 6% from last year
Most Popular Articles
Latest Articles
Download these 9 real estate prospecting letter templates that actually work
Build your business with direct mail using these expert-written real estate prospecting letter templates.
-
14 powerful tips to master networking as an introvert in real estate
-
Fintech startup Hitch rolls out white-label HELOC product
-
6 best real estate schools in Washington (WA) for 2024
-
Rick Roque departs CrossCountry Mortgage to join Sierra Pacific
-
Brokerage executives double down on their lead generation strategies