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
The National Geographic Society has big plans for its downtown DC campus.... read »
UrbanTurf is re-publishing an article with updated links that is a step-by-step way t... read »
UrbanTurf takes a look at the options DC homeowners and residents have to take advant... read »
The DC Council passed a bill on Tuesday that could bring thousands of new electric ca... read »
MRP Realty and Florida Rock have plans in the works for two large new residential bui... read »
- National Geographic To Open Museum, 400-Seat Theater In Downtown DC
- How to Obtain a Basic Business License For Your DC Rental
- A Solar Panel Primer for DC Residents
- DC Council Passes Bill That Would Bring Thousands Of New EV Stations To The City
- Plans For 600 Apartments Next To Nats Park Heads To Zoning Commission
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