Tag Archives: Pending Sales Index

“This recent low point in home sales activity is likely over,” said Lawrence Yun, NAR’s Chief Economist. “Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.”

As inventory slowly increases house hunters should begin to see more options in the coming months, economists report.

Year-over-year pending home sales indexes are down across the country in April for a second straight month due to a lack of inventory and an increase in prices. However, home sales activity still remains historically high, even during the downturn. Experts believe the market is still on track to post end-of-the-year increases, especially once real-estate investors decide to unload their rental properties.