June Sees a Slight Decline in US Pending Home Sales

In a recent report by the National Association of Realtors (NAR), it was revealed that pending home sales in the United States experienced a slight decrease of 0.8% in June compared to the previous month. Year-over-year, the decline was more pronounced at 2.8%.

Regional Variations Highlight Market Dynamics

The Northeast stood out as the only region with a positive change, witnessing a 2.1% increase in pending home sales. Conversely, the Midwest and South saw modest declines of 0.8% and 0.7%, respectively, while the West faced the most significant drop of 3.9%.

Lawrence Yun, NAR's chief economist, noted, "Despite the overall increase in market inventory, contract signings continue to show slight declines. Interestingly, the Northeast's pending sales rose slightly, even as it leads the nation in home price growth."