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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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