With an 0.9 percent gain month-over-month, June pending sales slightly sparked, according to the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI)—but, on an annual basis, contracts still underwhelmed, down 2.5 percent.

From May to June, activity increased in all of the regions in the U.S.: 0.5 percent in the Midwest; 1.4 percent in the Northeast; 1.1 percent in the South; and 0.7 percent in the West. However—in line with the nation’s overall trend—activity was subdued year-over-year, down 2.1 percent in the Midwest, 4.1 percent in the Northeast, 0.3 percent in the South, and 5.6 percent in the West.

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http://rismedia.com/2018/07/30/contracts-flicker-june-pending-sales-underwhelm/?utm_source=newsletter&utm_medium=email&utm_campaign=eNews#close

Although home sales may actually drop in year-over-year comparisons over the next few months, that has more to do with low inventory than a lack of buyer interest. As lower days on market and higher prices persist year after year, one might rationally expect a change in the outlook for residential real estate, yet the current situation has proven to be remarkably sustainable likely due to stronger fundamentals in home loan approvals than were in place a decade ago.

Now is the time to sell at a premium price if you are on the fence about listing your home or not. Inventory is low and buyers are not finding what they need or want out there available.....feel free to give us a call today or email.

http://rismedia.com/2018/06/20/existing-home-sales-hit-snag/?utm_source=newsletter&utm_medium=email&utm_campaign=eNews#close