Pending Home Sales Up 0.3% in December

national association of realtors logoThe National Association of Realtors is reporting that pending home sales were up slightly in December, 2020.  The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) fell slightly to 125.5, the fourth straight month of declines.  In addition, they report that year-over-year contract signings were up 21.4% with all regions seeing double-digit year-over-year increases.  Once again, like a broken record, we find a lack of inventory influencing the market….

“Pending home sales contracts have dipped during recent months, but I would attribute that to having too few homes for sale,” said Lawrence Yun, NAR’s chief economist. “There is a high demand for housing and a great number of would-be buyers, and therefore sales should rise with more new listings.”

Pending Home Sales December 2020

Click here to read the full report at the National Association of Realtors.

 

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