On June 27, 2022, National Association of Realtors® (NAR) reported that nationwide pending contract signed home sales increased 0.7% to an index of 99.9 in May of 2022 from an index of 106.2 in April of 2022, but fell 13.6% from May of 2021.
Pending home sales index in the Northeast gained 15.4% to an index of 86.7 in May of 2022 from April of 2022, but dropped 11.9% from May of 2021.
Pending home sales index in the Midwest down 1.7% to an index of 98.6 in May of 2022 from April of 2022, and declined 13.8% from May of 2021.
Pending home sales index in the South up 0.2% to an index of 119.0 in May of 2022 from April of 2022, but decreased 13.8% from May of 2021.
Pending home sales index in the West lower 5.0% to an index of 81.6 in May of 2022 from April of 2022, and fell 19.8% from May of 2021.
Lawrence Yun, NAR chief economist, stated "The better way to balance the market is through increased supply, which also helps the broader economy."
Fore complete information, on National Association of Realtors's May of 2022 pending home sales report, please click HERE
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