Upending Sales News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The National Association of Realtors (NAR) releases two widely followed home sales reports.  Existing Home Sales measure transactions of homes other than new construction (i.e. previously owned and occupied homes).  The Pending Sales index is an advance indicator for Existing Homes.  It measures contract signings but not closed sales. Through a combination of historically low affordability and inventory, both metrics have been operating at the lowest levels in more than a decade (not including the temporary drop in pending sales seen at the onset of pandemic lockdowns). Today's pending sales update kept the index perfectly unchanged at those long term lows. There were small regional variations as follows: Northeast. +0.8% versus last month (down 6.4% from last year) Midwest .. +0.5% versus last month (down 2.2% from last year) South... -2.3% versus last month (down 6.5% from last year) West.... +

Lawrence yunNational association of realtorsNational associationExisting home salesUpending salesEconomist lawrence yun