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June sees Pull-Back in Pending Sales

Wednesday, July 29, 2015

Pending home sales dipped slightly in June, ending five straight months of increases.  The National Association of Realtors® (NAR) said today that pending sales were down 1.8 percent from May, a month that reached the highest level on NAR's Pending Home Sales Index (PHSI), 112.3, in over nine years. The PHSI was 110.3 in June, 8.2 percent above the June 2014 number of 101.9 and the third highest reading this year.  It was also the tenth consecutive year-over-year increase.

A sale is listed as pending when the contract has been signed but the transaction has not closed. The sale is typically finalized within one or two months of signing.

 

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