NAR: Pending Home Sales Drop in April
The National Association of Realtors (NAR) reported today that pending home sales fell 11.6 percent in April, after increases in February and March. The pending sales index measures homes that have gone under contract but not yet closed and so can’t be considered sold. The index is out of a score of 100, with 100 being the average level of contract activity in 2001. In April, it was 81.9.
NAR Chief Economist Lawrence Yun on the drop in pending sales:
“The pullback in contract signings is disappointing and implies a slower than expected market recovery in upcoming months. The economy hit a soft patch in April from sharply rising oil prices, widespread severe weather with the heaviest precipitation in 20 years, and a sudden rise in unemployment claims.”
See other articles related to: national association of realtors, pending home sales
This article originally published at https://dc.urbanturf.com/articles/blog/nar_pending_home_sales_drop_in_april/3563.
Most Popular... This Week • Last 30 Days • Ever
This week's Best New Listings includes a four-bedroom home in Hyattsville, a chic Dup... read »
When Dan and Tanya Snyder couldn't sell their 30,000 square foot home , the former ow... read »
Cash-out refinancing is a popular financial strategy that allows homeowners to conver... read »
DC continues to get close to meeting Mayor Muriel Bowser's goal of producing 36,000 n... read »
For years, UrbanTurf has reported on the hefty profits that DC-area home sellers have... read »
- Best New Listings: 140 Years in Hyattsville, 100 Years in Bethesda
- Dan Snyder Gave His Potomac Home Away, And Now It's Coming Back On The Market
- How Does Cash-Out Refinancing Work?
- 34,000 And Counting: DC Is 96% of Way Towards Meeting 2025 Housing Production Goals
- As Profits Rise, Capital Gains Tax Hits More DC Home Sellers
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro