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Home Sales: Waiting for Good News?

Contract signings declined 9.8 percent year-over-year in December marking the twelfth straight month of annual decreases, according to a report on pending home sales by the National Association of Realtors (NAR). Pending home sales also saw a month over month decrease of 2.2 percent from November 2018, the report indicated.

While many factors were responsible for the decline in contract signings in December, the partial government shutdown was not one of them, according to Lawrence Yun, Chief Economist at NAR. “Seventy-five percent of Realtors® reported that they haven’t yet felt the impact of the government closure. However, if another government shutdown takes place, it will lead to fewer homes sold,” Yun said. He added that as the government reopens more mortgage options would become available for consumers.

Watch this video to see what other factors impacted pending home sales in December:

About Author: Radhika Ojha

Radhika Ojha is an independent writer and editor. A former Online Editor and currently a reporter for MReport, she is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.
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