Pending home sales rebounded by 5.3% in June, according to the National Association of Realtors (NAR), against expectations that the index would fall by 1.0%. The bounce is better than the most optimistic forecasts and follows a downwardly revised 4.9% drop in the prior month.
This is the second unexpected bounce in the past three months. April's index rebounded 7.1% after the seven-year index hit an all-time low in March.
What does this mean? Not really much unless the trend continues. However, during the times of real estate lull and incapication, its definitely a welcome stat that hopefully, yes....hopefully will segue into something greater. Only time will tell. In the mean time, we need to stick to basics, invest in our clients, build rapport, serve and get our name out there. I don't generally post on just numbers, but this number are indicative of better things to come....
Let's hope so.
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