On June 27, 2018, National Association of Realtors® (NAR) reported that nationwide pending contract signed home sales dropped 0.5% to an index of 105.9 in May of 2018 from an index of 106.4 in April of 2018.
Pending home sales index in the Northeast gained 2.0% to an index of 92.4 in May of 2018 from April 2018, but down 4.8% from May of 2017.
Pending home sales index in the Midwest increased 2.9% to an index of 2.9 in May of 2018 from April 2018, and fell 2.5% from May of 2017.
Pending home sales index in the South decreased 3.5% to an index of 122.9 in May of 2018 from April 2018, but unchanged 0.0% from May of 2017.
Pending home sales index in the West up 0.6% to an index of 94.7 in May of 2018 from April 2018, but lower 4.1% from May of 2017, according to Jane Dollinger of NAR.
Lawrence Yun, NAR chief economist, stated “Realtors® in most of the country continue to describe their markets as highly competitive and fast moving, but without enough new and existing inventory for sale, activity has essentially stalled.”
For more complete information, on National Association of Realtors's May of 2018 pending home sales report, please click HERE
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