-
Pending Home Sales Fell 8.6% in June
Pending home sales decreased in June, following a slight increase in May, according to the National Association of REALTORS®. 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), a forward-looking indicator of home sales based on contract signings, dipped 8.6% to 91.0 in June. Year-over-year, transactions shrank 20.0%. An index of 100 is equal to the level of contract activity in 2001. "Contract signings to buy a home will keep tumbling down as long as mortgage rates keep climbing, as has happened this year to ... (full story)
-
Pending home sales fell 20% in June versus a year earlier, as mortgage rates soared
Signed contracts to purchase existing homes dropped 20% in June compared with the same month a year ago, the National Association of Realtors said Wednesday. On a monthly basis, pending home sales fell a wider-than-expected 8.6% in June. A Dow Jones survey of economists had predicted a 1% drop. The decline coincided with a sharp jump in mortgage interest rates. The average on the 30-year fixed loan crossed over 6% in the middle of June, according to Mortgage News Daily. It started the year around 3%. High rates and inflation in the general economy are hitting buyer sentiment hard. “Contract signings to buy a home ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Jul 27, 2022 10:05am Jul 27, 2022 10:05am
- keyaForex
- | Joined Jun 2022 | Status: Member | 67 Comments
- Comment #2
- Quote
- Jul 27, 2022 1:45pm Jul 27, 2022 1:45pm
- wchen21
- | Joined Jun 2022 | Status: Junior Member | 1 Comment
- Comment #3
- Quote
- Jul 27, 2022 1:54pm Jul 27, 2022 1:54pm
- loriflori
- | Joined May 2007 | Status: Member | 154 Comments