Monday, October 2, 2023 | The Latest Buzz for the Appraisal Industry

NAR Reports Pending Home Sales Dropped Nearly Nine Percent in June

National Association of Realtors (NAR) reports pending home sales decreased in June, following a slight increase in May. All four major regions posted month-over-month and year-over-year pullbacks, the largest of which occurred in the West. The Pending Home Sales Index (PHSI) dipped 8.6% to 91.0 in June. Year-over-year, transactions shrank 20%. An index of 100 is equal to the level of contract activity in 2001.

“Contract signings to buy a home will keep tumbling

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