NAR reports 2.7% decrease in May pending home sales
The National Association of Realtors announced pending home sales decreased 2.7% in May 2023 when compared to April 2023.
NAR also found a 22.2% decrease in home sales from May 2022 compared to May 2023.
NAR’s April 2023 pending home sales numbers by region include:
- Northeast — 12.9% increase
- Midwest — 5.3% decrease
- South — 4.4% decrease
- West — 6.1% decrease
“Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing,” said Lawrence Yun, NAR chief economist. “The lack of housing inventory continues to prevent housing demand from being fully realized. It is encouraging that homebuilders have ramped up production, but the supply from new construction takes time and remains insufficient. There should be more focus on boosting existing-home inventory with temporary tax incentive measures.”
Julia Ross joined Berkshire Hathaway HomeServices C. Dan Joyner Realtors as a sales associate in the company’s Midtown Office.
Claudia Moore joined Marchant Real Estate as a Realtor.
She has also run a residential and commercial remodeling company with her husband, Lewis.
Moore is a graduate of Appalachian State University and has received advanced training in physical therapy from South College-Asheville.
