Categories: RealEstate

Pending Home Sales Dip 1.8 Percent in August

The FINANCIAL — Pending home sales fell slightly in August and have now decreased on an annual basis for eight straight months, according to the National Association of Realtors.

ADVERTISEMENT

Yun pointed to year-over-year increases in active listings from data at realtor.com to illustrate a potential rise in inventory. Columbus, Ohio, Seattle-Tacoma-Bellevue, Wash., San Diego-Carlsbad, Calif., Providence-Warwick, RI-Mass. and Nashville, Tenn. saw the largest increase in active listings in August compared to a year ago.

Yun expects existing-home sales this year to decrease 1.6 percent to 5.46 million, and the national median existing-home price to increase 4.8 percent. Looking ahead to next year, existing sales are forecast to rise 2 percent and home prices around 3.5 percent.

August Pending Home Sales Regional Breakdown

SUPPORT OUR NEWS, DONATE $1

The PHSI in the Northeast dropped 1.3 percent to 92.7 in August, and is now 1.6 percent below a year ago. In the Midwest, the index slid back 0.5 percent to 101.6 in August and is also 1.1 percent lower than August 2017.

Pending home sales in the South dipped 0.7 percent to an index of 121.3 in August, however, that number is 1.3 percent higher than a year ago. The index in the West decreased 5.9 percent in August to 89.1 and plummeted 11.3 percent below a year ago.

The National Association of Realtors is America’s largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries.

 

The FINANCIAL

Recent Posts

Younger people twice as likely to access private healthcare, with most willing to pay using their own money or savings

Almost nine in ten (87%) UK adults believe people should have equivalent access to NHS…

13 hours ago

Why Bitcoin Got Interested With Georgia

Yearly this year, Sam Bankman-Fried, FTX founder met Georgia's Prime Minister Gharibashvili to discuss prospects…

13 hours ago

Killing In Kherson: A Self-Made Partisan Describes His Role In The Resistance To Russia’s Occupation

KHERSON, Ukraine -- For Vladyslav Nedostup, the eight-month occupation of his native city has receded…

15 hours ago

Casual Luxe & Upscale Fare Featured at Margaritaville Hollywood Beach Resort

Far underrated in comparison to its neighbors Miami and Fort Lauderdale, the city of Hollywood…

2 days ago

Getting ready for retirement

Getting ready for retirement can be both stressful and satisfying. As you get more and…

4 days ago

Macron says it’s up to Ukrainians to decide conditions for possible end of war and “sustainable peace”

French President Emmanuel Macron said he does not believe allies should push Ukrainians into a…

4 days ago