Pending Home Sales Rose Nearly 5% in June
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Pending home sales increased in June, as more inventory came on the market.
The National Association of Realtors (NAR) announced Wednesday that home contract signings rose 4.8% last month, compared to May.
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“The rise in housing inventory is beginning to lead to more contract signings,” said NAR Chief Economist Lawrence Yun. “Multiple offers are less intense, and buyers are in a more favorable position.”
With an expected rate cut in September, it will be interesting to see if the sales momentum continues into the fall.
See other articles related to: pending home sales
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/pending_home_sales_rose_nearly_5_in_june/22576.
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