+4.8%
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Pending home sales in June rose 4.8%, with all four regions of the U.S. posting monthly gains in transactions. Year-over-year, pending home sales declined in all four regions of the country.
According to NAR Chief Economist Lawrence Yun, "The rise in housing inventory is beginning to lead to more contract signings. Multiple offers are less intense, and buyers are in a more favorable position."
Next release: Pending Home Sales for July 2024 will be released on Thursday, August 29, 2024 at 10 a.m. Eastern.
The Pending Home Sales Index (PHS), a leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos, and co-ops. Because a home goes under contract a month or two before it is sold, the Pending Home Sales Index generally leads Existing-Home Sales by a month or two.