Tuesday, 16 August 2022 | The Latest Buzz for the Appraisal Industry

Pending Home Sales Eked Out an Increase in May

Despite rising mortgage interest rates, pending home sales increased slightly in May, rising 0.7% compared with April, according to the National Association of Realtors (NAR).

The increase follows six straight months of decreases.

Regionally, and month over month, contract signings jumped 15.4% in the Northeast, however, they fell 1.7% in the Midwest, 0.2% in the South, and 5.0% in the West.

Year over year, pending home sales saw double digit decreases in three out

Responses

Welcome

Need Help?

Our knowledge base will help you and find the answers you're looking for.