Tag Archives: Contract Signings

"The small gain in contract signings shows the potential for further increases in light of the fact that many people have lost out on multiple home buying offers," said NAR Chief Economist Lawrence Yun.

According to a new report from the National Association of Realtors, pending home sales slipped nearly 3% in May, while contract signings jumped in the Northeast but decreased month-over-month in three major U.S. regions.

According to said NAR Chief Economist Lawrence Yun, “Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates, which climbed at one of the fastest paces on record this year, drastically cut into the number of contract signings to buy a home.”

“Mortgage rates may take longer to come down than many have expected, which means housing trends could continue to worsen as the economy adjusts to higher rates,” said Taylor Marr, Redfin’s Deputy Chief Economist.

The latest analysis from the National Association of Realtors revealed pending home sales slipped in September, down 10.2% from August, decreasing in all regions compared to 2021.

Watch this video to learn why contract signings declined across the country and what is on the horizon for pending home sales for the rest of the quarter.

Though they saw a slight uptick in June, contract signings remained below the sales recorded last year, according to recent data. What are the positive and negative factors impacting pending home sales?

Despite rising demand, pending home sales fell for the fifth straight month. Watch this video to learn the factors responsible for the lackluster performance of pending home sales.

February saw a growth in the number of sales contracts signed for homes with the Pending Home Sales Index data released by the National Association of Realtors (NAR) ...