Pending Home Sales Soar 8.8% in August
The National Association of Realtors is reporting that pending home sales jumped 8.8% in August – marking four consecutive months of increases! The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) rose to 132.8 with every major region experiencing an increase in month-over-month contract activity. In addition, they reported that year-over-year contract signings were up 24.2%.
“While I did very much expect the housing sector to be stable during the pandemic-induced economic shutdowns, I am pleasantly surprised to see the industry bounce back so strongly and so quickly.” Said Lawrence Yun, NAR’s chief economist.
Click here to read the full report at the National Association of Realtors.
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