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Pending home sales fell back slightly in June after a notable and unexpected 8.0 percent gain in May. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) dipped 1.9 percent from May to a reading of 112.8. This was also 1.9 percent lower than the index in June 2020. The PHSI is based on newly signed contracts to purchase existing single-family homes, townhouses, condos, and cooperative apartments. It is considered a leading indicator of those sales which are generally expected to close over the next one to two months. "Pending sales have seesawed since January, indicating a turning point for the market," said Lawrence Yun, NAR's chief economist. "Buyers are still interested and want to own a home, but record-high home prices are causing some to retreat.
Housing News
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Pending home sales fell back slightly in June after a notable and unexpected 8.0 percent gain in May. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) dipped 1.9 percent from May to a reading of 112.8. This was... (read more)
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Housing News
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The Board of Directors of the Conference of State Bank Supervisors (CSBS) has released model state regulatory prudential standards for nonbank mortgage servicers. CSBS is the national organization of bank regulators from all 50 states, the District o... (read more)
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Rob Chrisman
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Mission Statements are so passe. We now have “long term vision statements.” For some, great literature consists of the Bible, or Moby . For others of limited intelligence, like me, the pinnacle is National Lampoon’s 1964 Yearbook . ... (read more)
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National Associattion of Realtors
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