Jul
27
Pending Sales of U.S. Existing Homes Rise Less Than Forecast
By-
Gain led by rebound in Northeast after weakness in May
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Lack of supply, rising prices limiting demand, NAR’s Yun says
Contracts to purchase previously owned U.S. homes rose less than forecast in June as a lack of supply and rising prices offset the benefits from historically low mortgage rates, according to figures released Wednesday from the National Association of Realtors in Washington.
Key Points
- Pending home sales gauge rose 0.2 percent after falling 3.7 percent the prior period (median forecast in a Bloomberg survey of economists was 1.2 percent gain)
- Index saw a 0.3 percent rise compared to June 2015 on an unadjusted basis (forecast was 3 percent increase)
- Pending sales climbed 3.2 percent in the Northeast and 0.8 percent in the Midwest…
Pending Sales of U.S. Existing Homes Rise Less Than Forecast
