Pending home sales declined 1.5% in April compared with March, according to the National Association of Realtors. Sales declined 2.0% compared with April 2018, making it the 16th consecutive month of year-over-year declines.
Pending home sales declined 1.5% in April compared with March, according to the National Association of Realtors. Sales declined 2.0% compared with April 2018, making it the 16th consecutive month of year-over-year declines.
NAR Chief Economist Lawrence Yun said he expects pending home sales to begin making gains again in the upcoming months.
“Though the latest monthly figure shows a mild decline in contract signings, mortgage applications and consumer confidence have been steadily rising,” Yun said in a statement. “It’s inevitable for sales to turn higher in a few months.”
Regionally, pending home sales fell 1.8% in the Northeast and West and 2.5% in the South. Pending home sales increased 1.3% in the Midwest.
