Pending Home Sales End on a High Note

Homes for sale newberg


PENDING HOME SALES CLOSE SUMMER ON A HIGH NOTE. After falling in June and July, pending home sales rose 4.0% month-over-month in August and 3.8% year-over-year, according to the National Association of Realtors (NAR). Regionally, the level of contract signing was up month-over-month in the Midwest (8.7%), South (3.1%), and West (5.0%), and down slightly in the Northeast (1.1%). All four regions posted annual increases (Midwest +6.7%, South +4.2%, Northeast +2.6% and West +0.2%). Economists cite purchase mortgage application data from September as an indication that this momentum may continue.


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