News & Information: Real Estate News

Nation's pendings increase 9 percent

Tuesday, August 7, 2012  
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An increase in the nation's pending home sales has marked 14 consecutive months of year-over-year gains, according to the National Association of REALTORS®. The June 2012 Pending Home Sales Index is 9.5 percent higher than June 2011.

Lawrence Yun, NAR chief economist, said inventory shortages are a factor. "Buyer interest remains strong but fewer home listings mean fewer contract signing opportunities,” Yun says. "We’ve been seeing a steady decline in the level of housing inventory, which is most pronounced in the lower price ranges popular with first-time buyers and investors.”

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