National Association of Realtors (NAR) reports pending home sales decreased in June, following a slight increase in May. All four major regions posted month-over-month and year-over-year pullbacks, the largest of which occurred in the West. The Pending Home Sales Index (PHSI) dipped 8.6% to 91.0 in June. Year-over-year, transactions shrank 20%. An index of 100 is equal to the level of contract activity in 2001.
“Contract signings to buy a home will keep tumbling
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