Pending Home Sales Rise In June Helped By Western Gains

Dated: 08/08/2019

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Pending Home Sales Drop To Lowest Level In Three Years


Pending home sales rose in June, with activity particularly brisk in the western part of the U.S., a trade group said Tuesday.


The National Association of Realtors® said pending home sales climbed 2.8%, with gains in each of the four major regions, including a 5.4% jump in the West.


Compared to 12 months ago, sales rose 1.6%, the first year-over-year gain in 17 months.


The NAR attributed the gain to strong job growth, a near-record stock market, rising home values and low mortgage rates.


The Case-Shiller home-price report also released Tuesday showed moderating gains in prices in key Western cities, and in Seattle’s case, an outright year-over-year decline.


A sale is listed as pending when the contract has been signed but the transaction has not closed. The pending-home-sales index typically represents about 20% of the transactions for existing home sales.


Source


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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

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