(Tiper Stock Exchange) – Pending home sales in the United States are decliningaccording to the numbers that emerge from the compromises for the purchase, an indicator of the prospective trend of the real estate and mortgage market.
In May 2023, the pending home sales index, published by the Association of Real Estate Operators (NAR), is dropped 2.7% MoMreaching 76.5 points from 78.6 in April (when there was a drop of 0.4%).
The figure compares with the 0.2% growth expected by the analysts.
“Despite the slowness of the pending contract signatures, the real estate market is resilient with about three bids for each listing,” said Lawrence Yun, chief economist at NAR. “The lack of housing inventory continues to impede the full realization of housing demand.”
(Photo: © Alexander Raths / 123RF)