Pending home sales continued their second consecutive month of increases, growing 2.8% in June, according to the National Association of Realtors (NAR).
Sales are up 1.6% compared with June 2018.
“Job growth is doing well, the stock market is near an all-time high and home volumes are consistently increasing,” NAR Chief Economist Lawrence Yun stated. “When you combine that with the incredibly low mortgage rates, it is not surprising to now see two straight months of increases.”
Every region saw an increase in pending home sales during the month, with the Northeast rising 2.7%; the Midwest 3.3%; the South 1.3%; and the West 5.4%.
The full NAR report can be found here.
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