NAR: Pending Home Sales Fell Nearly 9% in June
The Pending Home Sales Index (PHSI) dipped 8.6% to 91.0 for the month of June.
The Pending Home Sales Index (PHSI) dipped 8.6% to 91.0 for the month of June.
Lack of inventory continues to support growth in prices, which have increased year over year for 124 straight months.
Sales have declined for five straight months.
The increase to nearly $60 billion breaks a three-year-long streak of decline.
Lack of supply & housing affordability cited as biggest hurdles in latest NAR survey.
Year-over-year, contract activity slid in all four major regions.
National Association of Realtors also reports that median sales price tops $400,000 for the first time
Our Way Home, a government housing initiative program, unveiled on Wednesday with the goal to close the gap on housing availability and affordability.