Pending Home Sales Down 2.6% in November – Real Estate Investing Today

The National Association of Realtors is reporting that pending home sales declined 2.6% in November, 2020.  The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) fell slightly to 125.7, the third straight month of declines.  In addition, they report that year-over-year contract signings were up 16.4%, with all regions reaching double-digit year-over-year increases.  Once again, we find a lack of inventory influencing the market….

“The latest monthly decline is largely due to the shortage of inventory and fast-rising home prices,” said Lawrence Yun, NAR’s chief economist. “It is important to keep in mind that the current sales and prices are far stronger than a year ago.”

Click here to read the full report at the National Association of Realtors.


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