On July 29, 2015, National Association of Realtors® (NAR) reported that nationwide pending contract signed home sales were lower 1.8% to an index of 110.3 in June of 2015 from an index of 121.1 in May of 2015, but increased 8.2% to an index of 101.9 from June of 2014.
Pending home sales index in the Northeast was up 0.4% to an index of 94.3 in June of 2015 from May 2015, and jumped 12.0% from June of 2014. Pending home sales index in the Midwest dropped 3.0% to an index of 108.1 in June of 2015 from May 2015, but higher 5.0% from June of 2014. Pending home sales index in the South down 3.0% to an index of 123.5 in June of 2015 from May 2015, but gained 7.8% over from June of 2014. Pending home sales index in the West increased% to an index of 104.4 in June of 2015 from May 2015, and gained 10.4% from June of 2014, according to www.Realtor.org
Lawrence Yun, NAR chief economist, stated “Competition for existing houses on the market remained stiff last month, as low inventories in many markets reduced choices and pushed prices above some buyers' comfort level," he said. "The demand is there for more sales, but the determining factor will be whether or not some of these buyers decide to hold off even longer until supply improves and price growth slows."
For more complete information, on NAR's June of 2015 pending home sales report, please CLICK HERE
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