Pending Home Sales Drop 5.5% in July
✉️ Want to forward this article? Click here.
Pending home sales fell in July as high home prices and borrowing costs hampered demand.
The National Association of Realtors (NAR) announced Wednesday that home contract signings fell 5.5% last month compared to June.
story continues below
loading...story continues above
“A sales recovery did not occur in midsummer,” said NAR Chief Economist Lawrence Yun. “The positive impact of job growth and higher inventory could not overcome affordability challenges and some degree of wait-and-see related to the upcoming U.S. presidential election.”
With an expected rate cut in September, it will be interesting to see if the sales momentum comes back in the fall.
See other articles related to: pending home sales
This article originally published at https://dc.urbanturf.com/articles/blog/pending_home_sales_drop_55_in_july/22662.
Most Popular... This Week • Last 30 Days • Ever

Today, UrbanTurf takes a look at the latest with the residential (and some of the com... read »

The mortgage interest deduction allows homeowners who itemize their taxes to reduce t... read »

Canal House, a Tribute Portfolio hotel, will open near the C&O Canal later this month... read »

While tariffs are often discussed in the context of their effects on manufacturing, a... read »

The new project will be located at a site that the developer purchased several years ... read »
- Jose Andres, Heating Plants And The 10 Developments Coming To Georgetown
- How Does The Mortgage Interest Deduction Work?
- Marriott Set To Open 105-Room Boutique Hotel in Georgetown This Month
- How Will New Tariffs Affect The Housing Market
- Jair Lynch Pitches 8-Story, 203-Unit Development For Arlington's Barcroft Neighborhood
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