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Pending home sales rebound, rise 8.1% in August
Yahoo Finance
Pending home sales rebound, rise 8.1% in August
Amanda Fung · Editor
Wed, September 29, 2021, 10:00 AM
The housing market showed little signs of slowing down at the end of this summer.
Pending home sales, a leading indicator of the health of the housing market, rose in August, reversing two straight months of declines. The National Association of Realtors’ (NAR) Pending Home Sales Index, which tracks the number of homes that are under contract to be sold, rose 8.1% in August to a seven-month high from the previous month. The results outpaced the expected 1.3% increase in sales, according to Bloomberg analysts’ consensus estimates. Contract signings rose in all four regions of the U.S.
“Rising inventory and moderating price conditions are bringing buyers back to the market,” said Lawrence Yun, NAR’s chief economist, in a press statement. “The more moderately priced regions of the South and Midwest are experiencing stronger signing of contracts to buy, which is not surprising. This can be attributed to some employees who have the flexibility to work from anywhere, as they choose to reside in more affordable places.”
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Pending home sales rebound, rise 8.1% in August
Amanda Fung · Editor
Wed, September 29, 2021, 10:00 AM
The housing market showed little signs of slowing down at the end of this summer.
Pending home sales, a leading indicator of the health of the housing market, rose in August, reversing two straight months of declines. The National Association of Realtors’ (NAR) Pending Home Sales Index, which tracks the number of homes that are under contract to be sold, rose 8.1% in August to a seven-month high from the previous month. The results outpaced the expected 1.3% increase in sales, according to Bloomberg analysts’ consensus estimates. Contract signings rose in all four regions of the U.S.
“Rising inventory and moderating price conditions are bringing buyers back to the market,” said Lawrence Yun, NAR’s chief economist, in a press statement. “The more moderately priced regions of the South and Midwest are experiencing stronger signing of contracts to buy, which is not surprising. This can be attributed to some employees who have the flexibility to work from anywhere, as they choose to reside in more affordable places.”
{snip}
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