On December 28, 2018, National Association of Realtors® (NAR) reported that nationwide pending contract signed home sales declined 0.7% to an index of 101.4 in November of 2018 from an index of 102.1 in October of 2018, and decreased 7.7% from November of 2017.
Pending home sales index in the Northeast higher 2.7% to an index of 95.1 in November of 2018 from October 2018, but lower 3.5% from November of 2017.
Pending home sales index in the Midwest down 2.3% to an index of 98.1 in November of 2018 from October 2018, and dropped 7.0% from November of 2017.
Pending home sales index in the South lost 2.7% to an index of 115.7 in November of 2018 from October 2018, and fell 7.4% from November of 2017.
Pending home sales index in the West increased 2.8% to an index of 87.2 in November of 2018 from October 2018, and declined 12.2% from November of 2017, according to Quintin Simmons of NAR
Lawrence Yun, NAR chief economist, stated “Land cost is expensive, and zoning regulations are too stringent. Therefore, local officials should consider ways to boost local supply; if not, they risk seeing population migrating to neighboring states and away from the West Coast.”
For more complete information, on National Association of Realtors's November of 2018 pending home sales report, please click HERE
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