NAR reports 0.9% increase in July pending home sales, 14% national decrease from 2022
The National Association of Realtors announced pending home sales rose 0.9% in July 2023 when compared to June 2023.
NAR also found pending home sales decreased 14% nationally from 2022 to 2023.
NAR’s July 2023 pending home sales numbers by region include:
- Northeast — 5.8% decrease
- Midwest — 0.4% decrease
- South — 2% increase
- West — 6.2% increase
“The small gain in contract signings shows the potential for further increases in light of the fact that many people have lost out on multiple home-buying offers,” said Lawrence Yun, NAR chief economist. “Jobs are being added and, thereby, enlarging the pool of prospective home buyers. However, rising mortgage rates and limited inventory have temporarily hindered the possibility of buying for many. Interestingly, the West region experienced a meaningful price decline in the past year and buyers are quickly returning as a result.”
Photo provided by Berkshire Hathaway HomeServices C. Dan Joyner RealtorsMaria Areiza joined Berkshire Hathaway HomeServices C. Dan Joyner Realtors as a sales associate in the company’s Midtown Office.
Photo provided by Berkshire Hathaway HomeServices C. Dan Joyner RealtorsEdward Foldes joined Berkshire Hathaway HomeServices C. Dan Joyner Realtors as a sales associate in the company’s Anderson office. He is a former Navy senior chief.
