Pending Homes Sales Unchanged in April

Pending home sales were stable in April, unchanged from a level of 78.9 on the National Association of Realtors Pending Home Sales Index.

Compared with April 2022, pending home sales dropped 20.3%.

“Affordability challenges certainly remain and continue to hold back contract signings, but a sizeable increase in housing inventory will be critical to get more Americans moving,” NAR Chief Economist Lawrence Yun said in a statement.

Regionally, month-over-month, pending home sales fell 11.3% in the Northeast and increased 3.6% in the Midwest, 0.1% in the South and 4.7% in April. Year-over-year, pending home sales declined in every region.

The full NAR report can be found here.